Central bank tools and liquidity shortages
Abstract: Bank for International Settlements researchers Stephen Cecchetti and Piti Disyatat consider the implications of recent financial developments for the ?lender-of-last-resort? function of central banks and whether traditional policymaking tools remain effective in the face of modern liquidity crises. Presented at \"Central Bank Liquidity Tools and Perspectives on Regulatory Reform\" a conference sponsored by the Federal Reserve Bank of New York, February 19-20, 2009.
File(s): File format is application/pdf https://www.newyorkfed.org/medialibrary/media/research/epr/10v16n1/1008cecc.pdf
Provider: Federal Reserve Bank of New York
Part of Series: Economic Policy Review