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What is the idea behind the beggar-thy-neighbor

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Reference no: EM131548205

Economic Essay

Length: 1000 words.

Also related to this topic of the Business Cycle, we have studied the role of the lender of last resort. Please refereeing to chapters 12 and 13 (Aliber & Kindleberger) explain:

1. According to Bagehot: to whom, based on what, when and how much should a bank grant loans.

2. What is the importance of Timing?

In chapter 13 we have explained the role of the international lender of last resort. Based on this chapter explain:

1. what is the idea behind the "beggar-thy-neighbor"

2. What are the main difference between the national and international lender of last resort?

You can only use the materials that I uploaded in the attachment. You can't use other sources like Google. You can directly cite from the materials but please leave the page number after every citation so I can find where you cited.

Text Book: Manias, Panics, and Crashes: A History of Financial Crises (Wiley Investment Classics) by Robert Z. Aliber and Charles P. Kindleberger, Seventh Edition.

Reference no: EM131548205

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