Results 1 - 1 of 1 for PRIME [Author: Charles W. Calomiris]
Is the Discount Window Necessary? A Penn-Central Perspective - Review
Policymakers generally regard the discount window as an essential tool for preventing the spread of financial crises, but some critics have argued that it is an unnecessary—and costly—policy instrument. The arguments against the discount window emphasize that it may unwisely postpone bank failures or undermine the Fed’s control over the supply of reserves.
research.stlouisfed.org/.../1994/05/01/is-the-discount-window-necessary-a-penn-central-perspective
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