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Can a Lender of Last Resort Stabilize Financial Markets? Lessons from the Founding of the Fed

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NBER2008-10-01 更新2025-01-04 收录
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https://www.nber.org/papers/w14422
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We use the founding of the Federal Reserve as a historical experiment to provide some insight into whether a lender of last resort can stabilize financial markets. Following the Panic of 1907, Congress passed two measures that established a lender of last resort in the United States: (1) the Aldrich
提供机构:
美国国家经济研究局
创建时间:
2008-10-01
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