Journal Article
Central bank tools and liquidity shortages
Cecchetti, Stephen G.; Disyatat, Piti (2010-08)
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.
Economic Policy Review , Volume 16 , Issue Aug , Pages 29-42