Statement 1: A lender of last resort (LOLR) is necessary for the stability of the financial system and managing risk. Statement 2: A lender of last resort (LOLR) is detrimental for the stability of the financial system and managing risk. Double check that your university ID number is odd.

Write an 800-word essay defending statement 1 and opposing statement 2. I am looking for a synthesis of the economic theory and history covered in this course so far, not a generic essay on the LOLR. The title of your essay should be “Statement 1”. Make sure to write your name, university ID number, and the word count above the title. Read steps 4 and 5 before you start writing. 4. Also bear in mind that short essays are more challenging. You have to make sure that every word counts. Do not waste them by recounting unnecessary, unimportant, irrelevant information or detail. 5. Note that assignment of the statements is random. Make sure that you support and defend the assigned statement. If not you will lose 50% of the full grade automatically

#lender #resort #LOLR #stability

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