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The New Lombard Street : How the Fed Became the Dealer of Last Resort /
Walter Bagehot's Lombard Street, published in 1873 in the wake of a devastating London bank collapse, explained in clear and straightforward terms why central banks must serve as the lender of last resort to ensure liquidity in a faltering credit system. Bagehot's book set down the princip...
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| Format: | Electronic eBook |
| Language: | Inglés |
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Princeton, N.J. :
Princeton University Press,
2011.
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| Series: | Book collections on Project MUSE.
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| Online Access: | Texto completo |
| Summary: | Walter Bagehot's Lombard Street, published in 1873 in the wake of a devastating London bank collapse, explained in clear and straightforward terms why central banks must serve as the lender of last resort to ensure liquidity in a faltering credit system. Bagehot's book set down the principles that helped define the role of modern central banks, particularly in times of crisis--but the recent global financial meltdown has posed unforeseen challenges. The New Lombard Street lays out the innovative principles needed to address the instability of today's markets and to rebuild our financial system. |
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| Physical Description: | 1 online resource (192 pages): illustrations |
| ISBN: | 9781400836260 |