endure 发表于 2025-3-27 00:27:11
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Irena Łącka if there is no lender of last resort? For one thing, for most of the financial crises covered from 1720 to 1988, both national and international, a lender of last resort did swing into action in response to the pressures of the market—though often protesting all the way. The role was not always dis猛击 发表于 2025-3-27 14:53:38
Miriam Jankalovaand credit. One can look back at particular manias followed by crashes or panics and see what went wrong. The tulipmania, part of speculative excitement over many objects, was fattened on personal credit.. John Law had his Banque Générale, later the Banque Royale; the South Sea Company, the Sword Bl冷峻 发表于 2025-3-27 19:11:20
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trading partners, because the price of its currency would decline in response to a temporary surge in import payments or a shortfall in export earnings. This decline would transmit deflationary pressure to its trading partners, both when the price of its parity was reduced and when the price of its山间窄路 发表于 2025-3-28 07:51:24
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