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The lender of last resort : alternative views and historical experience

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  • Michael D. Bordo

Abstract

Four views on the proper role of the lender of last resort are defined. Historical evidence is given on the causes of banking panics in the U.S. and other countries and the roles lenders of last resort played in resolving them.

Suggested Citation

  • Michael D. Bordo, 1990. "The lender of last resort : alternative views and historical experience," Economic Review, Federal Reserve Bank of Richmond, vol. 76(Jan), pages 18-29.
    • Handle: RePEc:fip:fedrer:y:1990:i:jan:p:18-29:n:v.76no.1
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    References listed on IDEAS

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