Journal Article

Averting Financial Crises: Advice from Classical Economists

Abstract: Editor's Note: The story of how central banks handled the global financial crisis in 2007-2008 is now familiar: They bent the traditional rules of lending to provide emergency funds to a wide array of institutions that lacked short-term financing, hoping to keep the institutions alive and minimize recession and job loss.

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Bibliographic Information

Provider: Federal Reserve Bank of Richmond

Part of Series: Econ Focus

Publication Date: 2014

Issue: 4Q

Pages: 5-9