Panel comments

Paul Tucker

Journal of Financial Stability, 2008, vol. 4, issue 4, 359-363

Abstract: In this paper, I shall briefly discuss five issues: (1) the 'collective action' problem, whereby bankers have an incentive to herd together; (2) the provision of central bank liquidity insurance; notably the time consistency and stigma concerns; (3) clarifying the objectives of central bank operations; (4) whether to 'lean against the wind' of credit cycles; (5) the macro-economic backdrop and preconditions for financial-system stabilisation.

Keywords: Central; bank; operations; Herding; problems; Liquidity; Time; consistency; Collateral (search for similar items in EconPapers)
Date: 2008
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Persistent link: https://EconPapers.repec.org/RePEc:eee:finsta:v:4:y:2008:i:4:p:359-363

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