Unintended Consequences of LOLR Facilities: The Case of Illiquid Leverage
收藏NBER2013-12-01 更新2025-01-04 收录
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https://www.nber.org/papers/w19773
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资源简介：
While the direct effect of lender-of-last-resort (LOLR) facilities is to forestall the default of financial firms that lose funding liquidity, an indirect effect is to allow these firms to minimize deleveraging sales of illiquid assets. This unintended consequence of LOLR facilities manifests itself
提供机构：
美国国家经济研究局
创建时间：
2013-12-01
