A Model of the Lender of Last Resort photograph

A Model Of The Lender Of Last Resort

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Originally published March 1999
Authors Charles Goodhart
Haizhou Huang
Date of Reg.
Date of Upd.
ID1428135
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About A Model Of The Lender Of Last Resort


This paper develops a model of the lender of last resort. It provides an analytical basis for “too big too fail” and a rationale for “constructive ambiguity”. . . .

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