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http://dspace.mediu.edu.my:8181/xmlui/handle/10419/19506Full metadata record
| DC Field | Value | Language |
|---|---|---|
| dc.creator | Fecht, Falko | - |
| dc.creator | Tyrell, Marcel | - |
| dc.date | 2004 | - |
| dc.date.accessioned | 2013-10-16T07:05:21Z | - |
| dc.date.available | 2013-10-16T07:05:21Z | - |
| dc.date.issued | 2013-10-16 | - |
| dc.identifier | http://hdl.handle.net/10419/19506 | - |
| dc.identifier | ppn:477279619 | - |
| dc.identifier | RePEc:zbw:bubdp1:2917 | - |
| dc.identifier.uri | http://koha.mediu.edu.my:8181/xmlui/handle/10419/19506 | - |
| dc.description | In a framework closely related to Diamond and Rajan (2001) we characterize different financial systems and analyze the welfare implications of different LOLR-policies in these financial systems. We show that in a bank-dominated financial system it is less likely that a LOLR-policy that follows the Bagehot rules is preferable. In financial systems with rather illiquid assets a discretionary individual liquidity assistance might be welfare improving, while in market-based financial systems, with rather liquid assets in the banks' balance sheets, emergency liquidity assistance provided freely to the market at a penalty rate is likely to be efficient. Thus, a "one size fits all"-approach that does not take the differences of financial systems into account is misguiding. | - |
| dc.language | eng | - |
| dc.relation | Discussion paper Series 1 / Volkswirtschaftliches Forschungszentrum der Deutschen Bundesbank 2004,39 | - |
| dc.rights | http://www.econstor.eu/dspace/Nutzungsbedingungen | - |
| dc.subject | D52 | - |
| dc.subject | E44 | - |
| dc.subject | G21 | - |
| dc.subject | E52 | - |
| dc.subject | E58 | - |
| dc.subject | ddc:330 | - |
| dc.subject | Financial Crises | - |
| dc.subject | Lender of Last Resort | - |
| dc.subject | Comparing Financial Systems | - |
| dc.subject | Lender of Last Resort | - |
| dc.subject | Finanzmarkt | - |
| dc.subject | Wirtschaftspolitische Wirkungsanalyse | - |
| dc.title | Optimal lender of last resort policy in different financial systems | - |
| dc.type | doc-type:workingPaper | - |
| Appears in Collections: | EconStor | |
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