Role of A Central Bank as Lender of Last Resort Introduction Nowadays, monetary and central bank policy become more and more important. Besides, many references are regularly made to the function of central bank as lender of last resort(LOLR). LOLR contributes a lot to solve the financial crises. As central banks are independent from government, …
Abstract This dissertation analyses monetary policy of the European Central Bank (ECB) and investigates the effect of monetary policy rule of the European Central Bank on the economic performance of European monetary union (EMU). The stated goal of the ECB price stability given by annual inflation of at or below 2% is an indicator that …
