Bordo, Michael D. (contributor) - 2008
nationwide
banking system, a central bank which could act as a lender of last resort, and credible
adherence to the classical … panics in an environment without a
central bank or any other effective lender of last resort. Booms were also often … circumstances in the advanced lending countries (such
as a rise in the Bank of England’s Bank rate in reaction to a decline in its …