Question: True/False/Uncertain - Briefly explain. No credit without an explanation (8 marks each). The Lender of Last Resort (LOLR) function of the central bank for the

True/False/Uncertain - Briefly explain. No credit without an explanation (8 marks each).

  1. The Lender of Last Resort (LOLR) function of the central bank for the banking sector is needed to prevent monetary union fragility.
  2. A country in a monetary union cannot use internal devaluation as an adjustment tool.
  3. Central bank independence is good for economic outcomes.
  4. The COVID-19 pandemic poses no problem for euro-zone monetary policy.
  5. The main problem with common euro bonds is that they cannot help against permanent asymmetric shocks.

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