A Model Of The Lender Of Last Resort
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Originally published | March 1999 |
Authors | Charles Goodhart |
Haizhou Huang | |
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Date of Upd. | |
ID | 1428135 |
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”. . . .