Myths about the Lender of Last Resort

Charles Goodhart

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Banking stability, regulation, efficiency Global Financial Crisis and Policies Global Financial Regulation and Crises

Abstract

Abstract There are few issues so subject to myth, sometimes unhelpful myths that tend to obscure rather than to illuminate real issues, as is the subject of whether a central bank (or an international fmancial institution (IFI) such as the International Monetary Fund (IMF)), should act as a lender of last resort (LOLR).

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