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EconStor >
ifo Institut – Leibniz-Institut für Wirtschaftsforschung an der Universität München >
CESifo Working Papers, CESifo Group Munich >
Please use this identifier to cite or link to this item:
http://hdl.handle.net/10419/26331
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Full metadata record
| DC Field | | Value | | Language |
| dc.contributor.author | | Freixas, Xavier | | en_US |
| dc.contributor.author | | Parigi, Bruno Maria | | en_US |
| dc.date.accessioned | | 2008-05-02 | | en_US |
| dc.date.accessioned | | 2009-07-28T08:30:33Z | | - |
| dc.date.available | | 2009-07-28T08:30:33Z | | - |
| dc.date.issued | | 2008 | | en_US |
| dc.identifier.uri | | http://hdl.handle.net/10419/26331 | | - |
| dc.description.abstract | | During 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.iso | | eng | | en_US |
| dc.publisher | | CESifo München | | en_US |
| dc.relation.ispartofseries | | CESifo working paper 2286 | | en_US |
| dc.subject.jel | | E58 | | en_US |
| dc.subject.ddc | | 330 | | en_US |
| dc.subject.keyword | | lender of last resort | | en_US |
| dc.subject.keyword | | systemic risk | | en_US |
| dc.subject.keyword | | contagion | | en_US |
| dc.subject.keyword | | bank closure | | en_US |
| dc.subject.keyword | | liquidity | | en_US |
| dc.subject.keyword | | discount window | | en_US |
| dc.subject.stw | | Lender of Last Resort | | en_US |
| dc.subject.stw | | Bankenaufsicht | | en_US |
| dc.subject.stw | | Bankinsolvenz | | en_US |
| dc.subject.stw | | Bankenliquidität | | en_US |
| dc.subject.stw | | Bankenkrise | | en_US |
| dc.subject.stw | | Theorie | | en_US |
| dc.title | | Lender of last resort and bank closure policy | | en_US |
| dc.type | | Working Paper | | en_US |
| dc.identifier.ppn | | 564826510 | | en_US |
| dc.rights | | http://www.econstor.eu/dspace/Nutzungsbedingungen | | - |
| Appears in Collections: | | CESifo Working Papers, CESifo Group Munich
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