منابع مشابه
A European System of Central Banks: Observations from Abroad
Throughout history, nations have devised many institutions to carry out these same tasks, often relying primarily on the private sector and market discipline, and giving governments a minimal role. Today, central banks, functioning as extensions of governments and issuing fiat currencies, attempt to ensure monetary stability. However, we have come to call upon central banks to perform many oper...
متن کاملWhy do Banks Fail ?
Banks advance loans in the absence of precise knowledge in relation to the outcome of borrowers’ projects. Consequently, uncertainty in relation to loan repayment emerges. Thus, banks introduce the ‘credit standard’ as insurance against loans, so that should borrowers’ projects fail, borrowers have an alternative means of honouring their debt obligations. It is argued in this paper that in the ...
متن کاملHow Nearly Do Arriving Customers
Customers arriving at a queue do not usually see its time-average behavior unless arrivals occur according to a Poisson process. In this article we study how nearly customers see time-average behavior. We give total variation error bounds for comparing the distance between the timeand customer-average distributions of a queueing system in terms of properties of the interarrival distribution. So...
متن کاملWhat Should Central Banks Do?
I the last twenty years, there has been substantial rethinking about how central banks should do their job. This rethinking has led to major changes in how central banks operate, and we are now in an era in which central banks in many countries throughout the world have had notable success—keeping inflation low, while their economies experience rapid economic growth. In this lecture, I outline ...
متن کاملWhy do UK banks securitize?
The eight years from 2000 to 2008 saw a rapid growth in the use of securitization by UK banks. We aim to identify the reasons that contributed to this rapid growth. The time period (2000 to 2010) covered by our study is noteworthy as it covers the pre- nancial crisis creditboom, the peak of the nancial crisis and its aftermath. In the wake of the nancial crisis, many governments, regulators a...
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ژورنال
عنوان ژورنال: Financial Markets, Institutions and Instruments
سال: 1998
ISSN: 0963-8008,1468-0416
DOI: 10.1111/1468-0416.00021