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The Lender of Last Resort; A Historical Perspective


  • Thomas H. Humphrey
  • Robert E. Keleher


No abstract is available for this item.

Suggested Citation

  • Thomas H. Humphrey & Robert E. Keleher, 1984. "The Lender of Last Resort; A Historical Perspective," Cato Journal, Cato Journal, Cato Institute, vol. 4(1), pages 275-321, Spring/Su.
  • Handle: RePEc:cto:journl:v:4:y:1984:i:1:p:275-321

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    References listed on IDEAS

    1. David Laidler, 1981. "Adam Smith as a Monetary Economist," Canadian Journal of Economics, Canadian Economics Association, vol. 14(2), pages 185-200, May.
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    Cited by:

    1. David L. Mengle, 1998. "The discount window," Monograph, Federal Reserve Bank of Richmond, number 1998td.
    2. O'Driscoll, Gerald P., 1984. "Safety-net mechanisms: the case of international lending," Working Papers 8404, Federal Reserve Bank of Dallas.
    3. Marvin Goodfriend & Jeffrey M. Lacker, 1999. "Limited commitment and central bank lending," Economic Quarterly, Federal Reserve Bank of Richmond, issue Fall, pages 1-27.
    4. Laurent Le Maux & Laurence Scialom, 2013. "Central banks and financial stability: rediscovering the lender-of-last-resort practice in a finance economy," Cambridge Journal of Economics, Oxford University Press, vol. 37(1), pages 1-16.
    5. Marvin Goodfriend & Robert G. King, 1988. "Financial deregulation, monetary policy, and central banking," Economic Review, Federal Reserve Bank of Richmond, issue May, pages 3-22.
    6. Toporowski, Jan, 2006. "Open market operations : beyond the new consensus," Research Discussion Papers 14/2006, Bank of Finland.
    7. Charles Goodhart, 1999. "Myths About the Lender of Last Resort," FMG Special Papers sp120, Financial Markets Group.
    8. Marie-Laure Djelic & Joel Bothello, 2013. "Limited liability and its moral hazard implications: the systemic inscription of instability in contemporary capitalism," Sciences Po publications info:hdl:2441/153e5es3a89, Sciences Po.
    9. E Philip Davis, 2008. "Liquidity, Financial Crises and the Lender of Last Resort – How Much of a Departure is the Sub-prime Crisis?," RBA Annual Conference Volume,in: Paul Bloxham & Christopher Kent (ed.), Lessons from the Financial Turmoil of 2007 and 2008 Reserve Bank of Australia.
    10. Walker F. Todd, 1993. "FDICIA's emergency liquidity provisions," Economic Review, Federal Reserve Bank of Cleveland, issue Q III, pages 16-23.
    11. Andreas Dombret & Otto Lucius (ed.), 2013. "Stability of the Financial System," Books, Edward Elgar Publishing, number 15454.
    12. Vincent Bignon & Marc Flandreau & Stefano Ugolini, 2012. "Bagehot for beginners: the making of lender‐of‐last‐resort operations in the mid‐nineteenth century," Economic History Review, Economic History Society, vol. 65(2), pages 580-608, May.
    13. Gertrude Tumpel-Gugerell, 2013. "Lender of Last Resort - Which Institution Could Best Fulfill this Function?," Chapters,in: Stability of the Financial System, chapter 24 Edward Elgar Publishing.
    14. Vitor Gaspar, 2014. "The Making of a Continental Financial System; Lessons for Europe from Early American History," IMF Working Papers 14/183, International Monetary Fund.
    15. Vincent Bignon & Marc Flandreau & Stefano Ugolini, 2009. "Bagehot for beginners: The making of lending of last resort operations in the mid-19th century," Working Paper 2009/22, Norges Bank.
    16. Stanley Fischer, 1999. "On the Need for an International Lender of Last Resort," Journal of Economic Perspectives, American Economic Association, vol. 13(4), pages 85-104, Fall.
    17. Maurice Obstfeld, 2014. "Never Say Never: Commentary on a Policymaker’s Reflections," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 62(4), pages 656-693, November.

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    JEL classification:

    • R00 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General - - - General
    • Z0 - Other Special Topics - - General


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