{"id":"https://openalex.org/W3121785232","doi":null,"title":"Financial crises, payment system problems, and discount window lending","display_name":"Financial crises, payment system problems, and discount window lending","publication_year":1996,"publication_date":"1996-01-01","ids":{"openalex":"https://openalex.org/W3121785232","mag":"3121785232"},"language":"en","primary_location":{"id":"mag:3121785232","doi":null,"is_oa":false,"landing_page_url":"https://econpapers.repec.org/article/fipfedgpr/y:1996:p:804-831.htm","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"RePEc: Research Papers in Economics","raw_type":null},"volume":null,"type":"preprint","indexed_in":[],"open_access":{"is_oa":false,"oa_status":"closed","oa_url":null,"any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5056561611","display_name":"Mark Jeffrey Flannery","orcid":"https://orcid.org/0000-0003-2546-6598","observed_orcids":["https://orcid.org/0000-0003-2546-6598"]},"institutions":[{"id":"https://openalex.org/I33213144","display_name":"University of Florida","ror":"https://ror.org/02y3ad647","country_code":"US","type":"education","lineage":["https://openalex.org/I33213144"]}],"countries":["US"],"is_corresponding":true,"raw_author_name":"Mark J. Flannery","raw_affiliation_strings":[],"raw_orcid":"https://orcid.org/0000-0003-2546-6598","affiliations":[]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":1,"corresponding_author_ids":["https://openalex.org/A5056561611"],"corresponding_institution_ids":["https://openalex.org/I33213144"],"apc_list":null,"apc_paid":null,"fwci":null,"has_fulltext":false,"cited_by_count":124,"citation_normalized_percentile":null,"cited_by_percentile_year":null,"biblio":{"volume":null,"issue":null,"first_page":"804","last_page":"831"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10127","display_name":"Banking stability, regulation, efficiency","score":0.98580002784729,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10127","display_name":"Banking stability, regulation, efficiency","score":0.98580002784729,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T12137","display_name":"Economic theories and models","score":0.004900000058114529,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10503","display_name":"Global Financial Crisis and Policies","score":0.004800000227987766,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/financial-crises","display_name":"financial crisis","score":1.0},{"id":"https://openalex.org/keywords/payment-systems","display_name":"payment systems","score":0.9779999852180481},{"id":"https://openalex.org/keywords/discount-window-lending","display_name":"discount window lending","score":0.9729999899864197},{"id":"https://openalex.org/keywords/lender-of-last-resort","display_name":"lender of last resort","score":0.9190000295639038},{"id":"https://openalex.org/keywords/central-bank-liquidity-provision","display_name":"central bank liquidity provision","score":0.7289999723434448},{"id":"https://openalex.org/keywords/private-credit-markets","display_name":"private credit markets","score":0.9480000138282776},{"id":"https://openalex.org/keywords/credit-crunch","display_name":"credit crunch","score":0.5609999895095825},{"id":"https://openalex.org/keywords/social-welfare-welfare-economics","display_name":"social welfare (welfare economics)","score":0.6179999709129333},{"id":"https://openalex.org/keywords/financial-risk-assessment","display_name":"financial risk assessment","score":0.4359999895095825}],"concepts":[{"id":"https://openalex.org/C183582576","wikidata":"https://www.wikidata.org/wiki/Q184783","display_name":"Market liquidity","level":2,"score":0.6957261562347412},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.6273202300071716},{"id":"https://openalex.org/C145097563","wikidata":"https://www.wikidata.org/wiki/Q1148747","display_name":"Payment","level":2,"score":0.6023247838020325},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.5515482425689697},{"id":"https://openalex.org/C73283319","wikidata":"https://www.wikidata.org/wiki/Q1416617","display_name":"Financial system","level":1,"score":0.537439227104187},{"id":"https://openalex.org/C2778137410","wikidata":"https://www.wikidata.org/wiki/Q2732820","display_name":"Government (linguistics)","level":2,"score":0.493434339761734},{"id":"https://openalex.org/C100243477","wikidata":"https://www.wikidata.org/wiki/Q12002092","display_name":"Welfare","level":2,"score":0.4420989453792572},{"id":"https://openalex.org/C2776983043","wikidata":"https://www.wikidata.org/wiki/Q986008","display_name":"Payment system","level":3,"score":0.43544429540634155},{"id":"https://openalex.org/C2779465119","wikidata":"https://www.wikidata.org/wiki/Q1817463","display_name":"Lender of last resort","level":4,"score":0.4269661605358124},{"id":"https://openalex.org/C2992735868","wikidata":"https://www.wikidata.org/wiki/Q66344","display_name":"Central bank","level":3,"score":0.3347020149230957},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.31473487615585327},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.31227558851242065},{"id":"https://openalex.org/C126285488","wikidata":"https://www.wikidata.org/wiki/Q178476","display_name":"Monetary policy","level":2,"score":0.2992037534713745},{"id":"https://openalex.org/C34447519","wikidata":"https://www.wikidata.org/wiki/Q179522","display_name":"Market economy","level":1,"score":0.11198949813842773},{"id":"https://openalex.org/C41895202","wikidata":"https://www.wikidata.org/wiki/Q8162","display_name":"Linguistics","level":1,"score":0.0},{"id":"https://openalex.org/C138885662","wikidata":"https://www.wikidata.org/wiki/Q5891","display_name":"Philosophy","level":0,"score":0.0}],"mesh":[],"locations_count":2,"locations":[{"id":"mag:3121785232","doi":null,"is_oa":false,"landing_page_url":"https://econpapers.repec.org/article/fipfedgpr/y:1996:p:804-831.htm","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"RePEc: Research Papers in Economics","raw_type":null},{"id":"pmh:oai:RePEc:mcb:jmoncb:v:28:y:1996:i:4:p:804-24","doi":null,"is_oa":false,"landing_page_url":"http://links.jstor.org/sici?sici=0022-2879%28199611%2928%3A4%3C804%3AFCPSPA%3E2.0.CO%3B2-6&origin=bc","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"article"}],"best_oa_location":null,"sustainable_development_goals":[],"sustainable_development_goals_aurora":[{"display_name":"Decent work and economic growth","score":0.41999998688697815,"id":"https://metadata.un.org/sdg/8"}],"study_designs":[],"awards":[],"funders":[],"has_content":{"pdf":false,"grobid_xml":false},"content_urls":null,"referenced_works_count":0,"referenced_works":[],"related_works":["https://openalex.org/W1559120295","https://openalex.org/W2127273327","https://openalex.org/W7221034404","https://openalex.org/W1521356820","https://openalex.org/W2026645280","https://openalex.org/W6989817318","https://openalex.org/W3124445594","https://openalex.org/W6990528996","https://openalex.org/W4378365219","https://openalex.org/W2576143570"],"abstract_inverted_index":{"In":[0,91],"a":[1,41,61,68,71,95],"developed":[2],"economy,":[3],"financial":[4,81],"crises":[5],"are":[6],"rapidly":[7],"conveyed":[8],"to":[9,15,50,53,79],"the":[10,29],"payment":[11],"system,":[12],"which":[13,66],"tends":[14],"rely":[16],"on":[17],"private":[18,47,64],"credit":[19,48],"extensions":[20],"in":[21],"most":[22],"countries.":[23],"While":[24],"many":[25],"authors":[26],"recommend":[27],"that":[28],"central":[30],"bank":[31],"do":[32],"no":[33],"more":[34],"than":[35],"provide":[36],"adequate":[37],"aggregate":[38],"liquidity":[39,52],"during":[40],"crisis,":[42],"this":[43],"policy":[44],"requires":[45],"well-functioning":[46],"markets":[49],"channel":[51],"solvent,":[54],"but":[55],"illiquid,":[56],"firms.":[57],"This":[58],"paper":[59],"presents":[60],"model":[62],"of":[63,98],"lending":[65],"defines":[67],"crisis":[69],"as":[70],"time":[72],"when":[73],"lenders":[74],"become":[75],"uncertain":[76],"about":[77],"how":[78],"assess":[80],"risks":[82],"and,":[83],"therefore,":[84],"rationally":[85],"withdraw":[86],"from":[87],"making":[88],"new":[89],"loans.":[90],"such":[92],"an":[93],"environment,":[94],"government":[96],"lender":[97],"last":[99],"resort":[100],"can":[101],"improve":[102],"social":[103],"welfare.":[104],"Copyright":[105],"1996":[106],"by":[107],"Ohio":[108],"State":[109],"University":[110],"Press.":[111]},"counts_by_year":[{"year":2023,"cited_by_count":1},{"year":2021,"cited_by_count":3},{"year":2020,"cited_by_count":3},{"year":2019,"cited_by_count":1},{"year":2018,"cited_by_count":5},{"year":2017,"cited_by_count":5},{"year":2016,"cited_by_count":7},{"year":2015,"cited_by_count":8},{"year":2014,"cited_by_count":18},{"year":2013,"cited_by_count":5},{"year":2012,"cited_by_count":12}],"updated_date":"2026-10-12T09:40:04.860316","created_date":"2021-02-01T00:00:00"}