Comment on: “Floating a “lifeboat”: The Banque de France and the crisis of 1889” by P.C. Hautcoeur, A. Riva, and E.N. White

Abstract : • Bagehot argued that lifeboats are always suboptimal. • Assessing systemicness is difficult. • Too much information is required to offset undesirable distributional effects. • Optimal lifeboats might be impossible to implement.
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Stefano Ugolini. Comment on: “Floating a “lifeboat”: The Banque de France and the crisis of 1889” by P.C. Hautcoeur, A. Riva, and E.N. White. Journal of Monetary Economics, Elsevier, 2014, 65, pp.120-123. ⟨10.1016/j.jmoneco.2014.04.009⟩. ⟨hal-01293759⟩

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