What is a lender of last resort and what does it do, Macroeconomics

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What is a lender of last resort and what does it do

Problem

What is a lender of last resort and what does it do? If a central bank acts as a lender of last resort under a fixed exchange rate regime, why are reserves at risk?

The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.

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Macroeconomics: What is a lender of last resort and what does it do

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