The Lender of Last Resort and the Run on the Savings and Loans
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Speculative runs on asset price fixing schemes are most often attributed either to an inexplicable mass hysteria or to a sudden, unpredictable random disturbance. Such attribution places runs and panics outside of the realm of scientific inquiry. Alternatively, in this paper I define the notion of a
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美国国家经济研究局创建时间：
1981-12-01
