EUI Working Paper: SPSEuropean University Institute, 1996 - Europe |
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Page 25
... lending of last resort ( central banking ) . A central bank could guarantee the liquidity of bank assets by ... lending of last resort with the same equanimity . In fact , one can say that until 1900 , there was an almost inverse ...
... lending of last resort ( central banking ) . A central bank could guarantee the liquidity of bank assets by ... lending of last resort with the same equanimity . In fact , one can say that until 1900 , there was an almost inverse ...
Page 30
... loans to the stock market . 40 The profit motive had three consequences with respect to last - resort lending . First , the bank was most dis- inclined to extend a liquidity guarantee to other banks , making it instead a matter of ...
... loans to the stock market . 40 The profit motive had three consequences with respect to last - resort lending . First , the bank was most dis- inclined to extend a liquidity guarantee to other banks , making it instead a matter of ...
Page 37
... lending of last resort in times of crisis.62 Moreover , the joint stock banks ' activities were early on rigorously regulated by the government to make them safe for shareholders and ( agrarian ) depositors . Sweden introduced bank ...
... lending of last resort in times of crisis.62 Moreover , the joint stock banks ' activities were early on rigorously regulated by the government to make them safe for shareholders and ( agrarian ) depositors . Sweden introduced bank ...
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adopt central banking agrarian periphery Arpád SZAKOLCZAI assets Australia Austria Austria-Hungary Banca Commerciale Italiana Banco Bank of England bank's banking structures banking system Banque Belgium Bouvier Britain business cycle Canada capital and reserves capital scarcity central bank Chlepner commercial banks competition corporatism corporatist corporatist regimes countries Crédit Lyonnais Crédit Mobilier Denmark denominator includes deposit banking deposit market depositors Dépôts Development discount Economic History equity equity-liability ratio European University Institute finance fiscal-military model France function Germany Gerschenkron Giandomenico MAJONE GNP per capita Goodhart groups information asymmetry insolvency investment banks Italy joint stock banks last resort lending of last liabilities liquidity guarantee market fragmentation mixed banking moderate corporatism National Monetary Commission Netherlands nonprofit banking nonprofit sector Norway note-issuing monopoly Oxford University Press paper percent pluralist Policy private bankers profit proxy rediscount Reichsbank rents representation savings banks Social Société Générale solvency specialized banking Sweden Teichova territorial Tortella universal banking