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Point sur la fourniture de liquidié publique

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  • Anne-Marie Rieu-Foucault

Abstract

This paper link the theory and practice of providing public liquidity. Starting from the theory of insurance as a justification for the provision of public liquidity, it shows that in practice the response to the financial crisis has been made to curb contagion and amplification and that liquidity storage can intervene for strategic reasons. Central banks through liquidity allocations and macroprudential measures respond collectively to the phenomena of the crisis. The reactions are innovative in the form of a systemic lender of last resort and large-scale interventions but do not use the theory of systemic liquidity insurance.

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  • Anne-Marie Rieu-Foucault, 2017. "Point sur la fourniture de liquidié publique," EconomiX Working Papers 2017-27, University of Paris Nanterre, EconomiX.
    • Handle: RePEc:drm:wpaper:2017-27
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    More about this item

    Keywords

    Liquidity – financial crisis – Lender of last resort – Macroprudential.;

    JEL classification:

    • D78 - Microeconomics - - Analysis of Collective Decision-Making - - - Positive Analysis of Policy Formulation and Implementation
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • G01 - Financial Economics - - General - - - Financial Crises

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