Book Chapters
Lender of Last Resort: a Review of the Literature
Authors
Freixas, Xavier; Giannini, Curzio; Hoggarth, Glenn; Soussa, Farouk
UPF authors
Type
Book Chapters
Book Authors
Goodhart, C. A. E. (ed.); Illing, Gerhard (ed.)
Book title
Financial crises, contagion, and the lender of last resort: a reader
Publisher
Oxford University Press
Publication year
2002
Pages
-
ISBN
978-0-19-924720-2
Abstract
The maintenance of financial stability is facilitated by well-designed `safety net¿ arrangements aimed at limiting the risk of disruption in the financial system (crisis prevention) and the consequences of disruption if it arises (crisis management). An important element of crisis management is the lender of last resort (LOLR) function. This article reviews the main ideas on LOLR reflected in the academic literature, going back to Henry Thornton almost two hundred years ago
Complete citation
Freixas, Xavier; Giannini, Curzio; Hoggarth, Glenn; Soussa, Farouk. Lender of Last Resort: a Review of the Literature. In: Goodhart, C. A. E. (ed.); Illing, Gerhard (ed.). Financial crises, contagion, and the lender of last resort: a reader. 1 ed. Oxford University Press; 2002.
