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Author Info
Tucker, Paul
Abstract

In this paper, I shall briefly discuss five issues: (1) the [`]collective action' problem, whereby bankers have an incentive to herd together; (2) the provision of central bank liquidity insurance; notably the time consistency and stigma concerns; (3) clarifying the objectives of central bank operations; (4) whether to [`]lean against the wind' of credit cycles; (5) the macro-economic backdrop and preconditions for financial-system stabilisation.

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File URL: http://www.sciencedirect.com/science/article/B7CRR-4THSX5H-B/2/e86ece367d09fde623bf0da88e3f86f0
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Publisher Info
Article provided by Elsevier in its journal Journal of Financial Stability.

Volume (Year): 4 (2008)
Issue (Month): 4 (December)
Pages: 359-363
Download reference. The following formats are available: HTML (with abstract), plain text (with abstract), BibTeX, RIS (EndNote, RefMan, ProCite), ReDIF
Handle: RePEc:eee:finsta:v:4:y:2008:i:4:p:359-363

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Web page: http://www.elsevier.com/locate/jfstabil

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Related research
Keywords: Central bank operations Herding problems Liquidity Time consistency Collateral;

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