IMF too sluggish to be global lender of last resort, say Allen and Moessner
Fed took action during financial crisis but IMF was too slow
The IMF's sluggish and inadequate response to the financial crisis, though unsurprising, highlights the implausibility of the fund assuming the role of a global lender of last resort, according to William Allen and Richhild Moessner.
Allen is an honorary visiting senior fellow at the Cass Business School, and Moessner is a senior policy adviser at the Netherlands Bank and an honorary visiting fellow at the Cass Business School.
Writing in the latest edition of the Central Banking Journal, Allen
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