connectedness and contagion protecting the financial system from panics mit press

Download Book Connectedness And Contagion Protecting The Financial System From Panics Mit Press in PDF format. You can Read Online Connectedness And Contagion Protecting The Financial System From Panics Mit Press here in PDF, EPUB, Mobi or Docx formats.

Connectedness And Contagion

Author : Hal S. Scott
ISBN : 9780262034371
Genre : Business & Economics
File Size : 82. 63 MB
Format : PDF, ePub
Download : 807
Read : 1314

Get This Book


An argument that contagion is the most significant risk facing the financial system and that Dodd¬Frank has reduced the government's ability to respond effectively.

Financial Crisis Corporate Governance And Bank Capital

Author : Sanjai Bhagat
ISBN : 9781107170643
Genre : Business & Economics
File Size : 86. 90 MB
Format : PDF, ePub, Docs
Download : 385
Read : 862

Get This Book


In the aftermath of the 2007-8 crisis, senior policymakers and the media have blamed excessive risk-taking undertaken by bank executives, in response to their compensation incentives, for the crisis. The inevitable follow-up to this was to introduce stronger financial regulation, in the hope that better and more ethical behaviour can be induced. Despite the honourable intentions of regulation, such as the Dodd-Frank Act of 2010, it is clear that many big banks are still deemed too big to fail. This book argues that by restructuring executive incentive programmes to include only restricted stock and restricted stock options with very long vesting periods, and financing banks with considerably more equity, the potential of future financial crises can be minimized. It will be of great value to corporate executives, corporate board members, institutional investors and economic policymakers, as well as graduate and undergraduate students studying finance, economics and law.

Ending Government Bailouts As We Know Them

Author : Kenneth E. Scott
ISBN : 9780817911232
Genre : Business & Economics
File Size : 47. 3 MB
Format : PDF, ePub
Download : 171
Read : 1238

Get This Book


This book examines the dangers of continuing government bailouts and offers alternative strategies designed to produce growth based on the vigor of the private sector with inflation under control. The expert authors show that it is indeed possible to explain the causes of the crisis in understandable terms and clarify why resolving the bailout problem is essential to preventing future crises.

Bankruptcy Not Bailout

Author : Kenneth E. Scott
ISBN : 9780817915162
Genre : Political Science
File Size : 29. 24 MB
Format : PDF, ePub, Mobi
Download : 913
Read : 630

Get This Book


This book introduces and analyzes a new and more predictable bankruptcy process designed specifically for large financial institutions—Chapter 14—to achieve greater financial stability and reduce the likelihood of bailouts. The contributors identify and compare the major differences in the Dodd-Frank Title II and the proposed new procedures and outline the reasons why Chapter 14 would be more effective in preventing both financial crises and bailouts.

The Money Problem

Author : Morgan Ricks
ISBN : 9780226330464
Genre : Business & Economics
File Size : 55. 49 MB
Format : PDF, ePub
Download : 229
Read : 682

Get This Book


Years have passed since the world experienced one of the worst financial crises in history, and while countless experts have analyzed it, many central questions remain unanswered. Should money creation be considered a ‘public’ or ‘private’ activity—or both? What do we mean by, and want from, financial stability? What role should regulation play? How would we design our monetary institutions if we could start from scratch? In The Money Problem, Morgan Ricks addresses all of these questions and more, offering a practical yet elegant blueprint for a modernized system of money and banking—one that, crucially, can be accomplished through incremental changes to the United States’ current system. He brings a critical, missing dimension to the ongoing debates over financial stability policy, arguing that the issue is primarily one of monetary system design. The Money Problem offers a way to mitigate the risk of catastrophic panic in the future, and it will expand the financial reform conversation in the United States and abroad.

Central Banking In Turbulent Times

Author : Francesco Papadia
ISBN : 9780192528889
Genre : Business & Economics
File Size : 84. 13 MB
Format : PDF, ePub, Docs
Download : 426
Read : 1228

Get This Book


Central banks came out of the Great Recession with increased power and responsibilities. Indeed, central banks are often now seen as 'the only game in town', and a place to put innumerable problems vastly exceeding their traditional remit. These new powers do not fit well, however, with the independence of central banks, remote from the democratic control of government. Central Banking in Turbulent Times examines fundamental questions about the central banking system, asking whether the model of an independent central bank devoted to price stability is the final resting point of a complex development that started centuries ago. It dissects the hypothesis that the Great Recession has prompted a reassessment of that model; a renewed emphasis on financial stability has emerged, possibly vying for first rank in the hierarchy of objectives of central banks. This raises the risk of dilemmas, since the Great Recession brought into question implicit assumptions that the pursuit of price stability would also lead to financial stability. In addition, the border between monetary and fiscal policy was blurred both in the US and in Europe. Central Banking in Turbulent Times asks whether the model prevailing before the Great Recession has been irrevocably altered. Are we entering, as Charles Goodhart has hypothesized, into the 'fourth epoch' of central banking? Are changes to central banks part of a move away from the global liberal order that seemed to have prevailed at the turn of the century? Central Banking in Turbulent Times seeks to answer these questions as it examines how changes can allow for the maintenance of price stability, while adapting to the long-term consequences of the Great Recession.

International Finance

Author : Hal S. Scott
ISBN : 1609301854
Genre : Law
File Size : 48. 96 MB
Format : PDF, Kindle
Download : 760
Read : 1102

Get This Book


This nineteenth edition on international finance includes the continuing responses to the 2007–2009 global financial crisis and the ongoing Eurozone crisis, and reflects the reality of the Dodd-Frank Act, which has spawned hundreds of rule-making proceedings. Chapter 2 now deals with the newly enacted Jumpstart Our Business Startups (JOBS) Act of 2012. Chapter 5 deals with the Euro and Eurozone crisis, the multiple responses to which have been the major focus of international finance in the past year. Chapter 7 discusses the continued formation and implementation of the Basel III rules, as well as the expanding use of stress tests. Chapter 15 addresses the vast regulatory changes in regulation for the over-the-counter derivatives market. Chapter 16 deals with new regulatory proposals for money market and hedge funds.

The Maze Of Banking

Author : Gary B. Gorton
ISBN : 9780190204853
Genre : Business & Economics
File Size : 51. 97 MB
Format : PDF
Download : 914
Read : 252

Get This Book


After the financial crisis of 2007-2008, analysts continue to question the security of banking sectors in nations in Europe, Latin America, Asia, and Africa. Why do such crises recur? What is it about the accumulation of bank debt that potentially jeopardizes national and global banking systems? There is no one better-equipped to answer such questions than Gary Gorton, who has been studying financial crises since his PhD thesis in 1983. The Maze of Banking contains a collection of his academic papers on the subjects of banks, banking, and financial crises. The papers in this volume span almost 175 years of U.S. banking history, from pre-U.S. Civil War private bank notes issued during the U.S. Free Banking Era (1837-1863), followed by the U.S. National Banking Era (1863-1914) before there was a central bank, through loan sales, securitization, and the financial crisis of 2007-2008. Banking changed profoundly during these 175 years, yet it did not change in fundamental ways. The forms of money changed, resulting in associated changes in the information structure of the economy. Bank debt evolved as an instrument for storing value, smoothing consumption, and transactions, but its fundamental nature did not change. In all its forms, it is vulnerable to bank runs without government intervention. Comprehensive and informative, the collection is the definitive volume on the history of the U.S. banking system. These papers provide the framework for understanding how the financial crisis of 2007-2008 developed and steps to promote a stable banking industry, thereby preventing future economic crises. The Maze of Banking is essential reading material for students and academics with an interest in economics, finance, and the history of banking.

Lehman Brothers

Author : Oonagh McDonald
ISBN : 9781526100504
Genre : Business & Economics
File Size : 56. 36 MB
Format : PDF, Kindle
Download : 458
Read : 414

Get This Book


Using extensive documentary evidence and interviews with former Lehman employees, Oonagh McDonald reveals the decisions that led to Lehman's collapse, investigates why the government refused a bail-out and whether the implications of this refusal were fully understood. In clear and accessible language she demonstrates both the short and long term effects of Lehman's collapse

Cross Border Banking In Europe

Author : Franklin Allen
ISBN : 9781907142369
Genre : Banks and banking
File Size : 30. 69 MB
Format : PDF, Docs
Download : 230
Read : 457

Get This Book


This report argues that policy reforms in micro- and macro-prudential regulation and macroeconomic policies are needed for Europe to reap the important diversification and efficiency benefits from cross-border banking, while reducing the risks stemming from large cross-border banks.Available online as pdf at: http: //www.cepr.org/pubs/books/CEPR/cross-border_banking.pd

Top Download:

Best Books