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Central Bank as a Lender of Last Resort: New Issues of the Monetary Policy Theory
https://doi.org/10.32609/0042-8736-2010-12-70-81
Abstract
The article considers the problem of realization of central banks function of the lender of last resort in the situation of liquidity deficit. It shows that the classic definition of the last resort credits principles is not adequate to the tasks which central banks have to solve during liquidity crisis.
About the Authors
S. Andryushin
Financial University under the Government of the Russian Federation; Institute of Economics, Russian Academy of Sciences
Russian Federation
Russian Federation
V. Kuznetsova
Lomonosov Moscow State University; Institute of Economics, Russian Academy of Sciences
Russian Federation
Russian Federation
References
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Review
For citations:
Andryushin S., Kuznetsova V. Central Bank as a Lender of Last Resort: New Issues of the Monetary Policy Theory. Voprosy Ekonomiki. 2010;(12):70-81. (In Russ.) https://doi.org/10.32609/0042-8736-2010-12-70-81
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