The Promise and Performance of the Federal Reserve as Lender of Last Resort 1914-1933
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Prepared for the Federal Reserve Bank of Atlanta Conference Commemorating the 100th Anniversary of the Jekyll Island Conference, Jekyll Island, Georgia, November 5-6, 2010. The authors thank Will Roberds, Ellis Tallman, and Eugene White for comments on a previous version of this paper. Views expressed in this paper are not necessarily official positions of the Federal Reserve Bank of St. Louis, the Federal Reserve System, or the National Bureau of Economic Research.