文章基本信息

标题：PERANAN THE LENDER OF LAST RESORT (LOLR) TERHADAP PEREKONOMIAN: Suatu Kajian Empiris Terhadap Bantuan Likuiditas Bank Indonesia (BLBI)
本地全文：下载
作者：Iman Sugema ; Iskandar Simorangkir
期刊名称：Bulletin Ekonomi Moneter dan Perbankan
印刷版ISSN：1410-8046
电子版ISSN：2460-9196
出版年度：2004
卷号：7
期号：1
页码：53-88
DOI：10.21098/bemp.v7i1.98
出版社：Bank Indonesia
摘要：The role of central bank as the lender of last resort (LOLR) has been well known since 19th century. LOLR is a lending facility to non liquid bank to avoid systemic financial crisis on banking. In Indonesia Central Bank of Indonesia provides this facility, namely Bantuan Likuiditas Bank Indonesia (BLBI). Using macro-econometric model to run two simulations; with and without BLBI, we find that BLBI can avoid national output fall while the existence of BLBI, the cost of liquidity crisis will be less. Our result also shows that BLBI tend to overshoot exchange rate by money printing to support non liquid bank which in turn increase the probability of systemic crisis.