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dc.contributor.authorFreixas, Xavieren_US
dc.contributor.authorParigi, Bruno Mariaen_US
dc.date.accessioned2008-05-02en_US
dc.date.accessioned2009-07-28T08:30:33Z-
dc.date.available2009-07-28T08:30:33Z-
dc.date.issued2008en_US
dc.identifier.urihttp://hdl.handle.net/10419/26331-
dc.description.abstractDuring the last decades a consensus has emerged that it is impossible to disentangle liquidity shocks from solvency shocks. As a consequence the classical lender of last resort rules, as defined by Thornton and Bagehot, based on lending to solvent illiquid institutions appear ill-suited to this environment. We summarize here the main contributions that have developed considering this new paradigm and discuss how institutional features relating to bank closure policy influences lender of last resort and other safety net issues. We devote particular emphasis to the analysis of systemic risk and contagion in banking and the role of the lender of last resort to prevent it.en_US
dc.language.isoengen_US
dc.publisherCESifo Münchenen_US
dc.relation.ispartofseriesCESifo working paper 2286en_US
dc.subject.jelE58en_US
dc.subject.ddc330en_US
dc.subject.keywordlender of last resorten_US
dc.subject.keywordsystemic risken_US
dc.subject.keywordcontagionen_US
dc.subject.keywordbank closureen_US
dc.subject.keywordliquidityen_US
dc.subject.keyworddiscount windowen_US
dc.subject.stwLender of Last Resorten_US
dc.subject.stwBankenaufsichten_US
dc.subject.stwBankinsolvenzen_US
dc.subject.stwBankenliquiditäten_US
dc.subject.stwBankenkriseen_US
dc.subject.stwTheorieen_US
dc.titleLender of last resort and bank closure policyen_US
dc.typeWorking Paperen_US
dc.identifier.ppn564826510en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
Appears in Collections:CESifo Working Papers, CESifo Group Munich

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