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The Lender of Last Resort: A 21th Century Approach

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Author Info
Freixas, Xavier
Parigi, Bruno
Rochet, Jean-Charles

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Paper provided by Institut d'Économie Industrielle (IDEI), Toulouse in its series IDEI Working Papers with number 215.

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Date of creation: 2003
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Publication status: Published in Journal of the European Economic Association, vol. 2, n°6, décembre 2004, p. 1085-1115.
Handle: RePEc:ide:wpaper:594

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Leonardo Bartolini & Alessandro Prati, 2003. "The execution of monetary policy: a tale of two central banks," Staff Reports 165, Federal Reserve Bank of New York. [Downloadable!]
    Other versions:
  2. Philippe Aghion, Patrick Bolton & Steven Fries, 1999. "Optimal Design of Bank Bailouts: The Case of Transition Economies," Journal of Institutional and Theoretical Economics (JITE), Mohr Siebeck, Tübingen, vol. 155(1), pages 51-, March.
  3. Furfine, Craig H, 2001. "Banks as Monitors of Other Banks: Evidence from the Overnight Federal Funds Market," Journal of Business, University of Chicago Press, vol. 74(1), pages 33-57, January. [Downloadable!] (restricted)
  4. Gary Gorton & Lixin Huang, 2002. "Bank Panics and the Endogeneity of Central Banking," Center for Financial Institutions Working Papers 02-29, Wharton School Center for Financial Institutions, University of Pennsylvania. [Downloadable!]
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  5. Charles M. Kahn & João A. C. Santos, 2001. "Allocating bank regulatory powers: lender of last resort, deposit insurance and supervision," BIS Working Papers 102, Bank for International Settlements. [Downloadable!]
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  6. Pagano, Marco & Jappelli, Tullio, 1993. " Information Sharing in Credit Markets," Journal of Finance, American Finance Association, vol. 48(5), pages 1693-1718, December. [Downloadable!] (restricted)
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  7. George A. Akerlof & Paul M. Romer, 1993. "Looting: The Economic Underworld of Bankruptcy for Profit," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 24(1993-2), pages 1-74. [Downloadable!]
  8. Jean-Charles Rochet & Jean Tirole, 1996. "Interbank lending and systemic risk," Proceedings, Board of Governors of the Federal Reserve System (U.S.), pages 733-765.
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  9. Freixas, Xavier & Parigi, Bruno & Rochet, Jean Charles, 1999. "Systemic Risk, Interbank Relations and Liquidity Provision by the Central Bank," CEPR Discussion Papers 2325, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
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  10. Padoa-Schioppa, Tommaso, 1999. "EMU and Banking Supervision," International Finance, Blackwell Publishing, vol. 2(2), pages 295-308, July. [Downloadable!] (restricted)
  11. Diamond, Douglas W & Dybvig, Philip H, 1983. "Bank Runs, Deposit Insurance, and Liquidity," Journal of Political Economy, University of Chicago Press, vol. 91(3), pages 401-19, June. [Downloadable!] (restricted)
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  12. Mitchell, Janet, 2001. "Bad Debts and the Cleaning of Banks' Balance Sheets: An Application to Transition Economies," Journal of Financial Intermediation, Elsevier, vol. 10(1), pages 1-27, January. [Downloadable!] (restricted)
  13. Luigi Zingales & Raghuram G. Rajan, 2003. "Banks and Markets: The Changing Character of European Finance," NBER Working Papers 9595, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  14. Rafael Repullo, 2000. "Who should act as lender of last resort? an incomplete contracts model," Proceedings, Federal Reserve Bank of Cleveland, pages 580-610.
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  15. Furfine, Craig, 2001. "The reluctance to borrow from the Fed," Economics Letters, Elsevier, vol. 72(2), pages 209-213, August. [Downloadable!] (restricted)
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Pablo Druck & Mario Dehesa, 2008. "The Eastern Caribbean Central Bank: Challenges to an Effective Lender of Last Resort," IMF Working Papers 08/214, International Monetary Fund. [Downloadable!]
  2. Martin Hellwig, 2005. "Market Discipline, Information Processing, and Corporate Governance," Working Paper Series of the Max Planck Institute for Research on Collective Goods 2005_19, Max Planck Institute for Research on Collective Goods. [Downloadable!]
    Other versions:
  3. Rochet, Jean-Charles & Vives, Xavier, 2004. "Coordination Failures and the Lender of Last Resort : Was Bagehot Right After All?," IDEI Working Papers 294, Institut d'Économie Industrielle (IDEI), Toulouse. [Downloadable!]
    Other versions:
  4. Raphael H. Solomon, 2005. "Pocket Banks and Out-of-Pocket Losses: Links between Corruption and Contagion," Working Papers 05-23, Bank of Canada. [Downloadable!]
  5. Miguel A. Kiguel & Alain Ize & Eduardo Levy Yeyati, 2005. "Managing Systemic Liquidity Risk in Financially Dollarized Economies," IMF Working Papers 05/188, International Monetary Fund. [Downloadable!]
  6. Alain Ize & Miguel Kiguel & Eduardo Levy Yeyati, 2005. "Managing Systemic Liquidity Risk in Financially Dollarized Economy," Business School Working Papers managsystrisk, Universidad Torcuato Di Tella. [Downloadable!]
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