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The First Credit Market Turmoil Of The 21St Century : Implications For Public Policy.
Since the summer of 2007, credit markets in almost all industrial countries have been in substantial turmoil and this has become the focus of intense policy debates. The papers in this volume are contributed by the world's leading financial experts and constitute a thorough examination of the f...
| Clasificación: | Libro Electrónico |
|---|---|
| Formato: | Electrónico eBook |
| Idioma: | Inglés |
| Publicado: |
World Scientific
2009.
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| Temas: | |
| Acceso en línea: | Texto completo |
MARC
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| 245 | 0 | 4 | |a The First Credit Market Turmoil Of The 21St Century : |b Implications For Public Policy. |
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| 505 | 0 | |a Cover13; -- Contents -- Preface -- Acknowledgements -- I. Special Addresses -- Central Banks and the Financial Turmoil Jos233; Manuel Gonz225;lez-P225;ramo, European Central Bank -- 1. Introduction1 -- 2. The Separation Between Monetary Policy Formulation and its Implementation -- 3. The Impact of the Turmoil on the Monetary Transmission Mechanism -- 4. The Role of Uncertainty -- 5. Conclusion -- The Implications of the Credit Crisis for Public Policy Charles H. Dallara, Institute of International Finance -- Where Are Our Leaders? Kenneth W. Dam, University of Chicago -- Trust and Financial Markets Paola Sapienza, Northwestern University -- 1. Trust and Finance -- 2. Does It Matter Who You Trust? -- 3. What Determines Trust? -- 4. Trust and Regulation -- References -- II. What Happened, Where? -- A View of the U.S. Subprime Crisis Robert DiClemente, Citigroup, and Kermit Schoenholtz, New York University -- 1. Introduction -- 2. The Setting -- 3. The Policy Response -- 4. The Role of Financial Conditions -- 5. Where Do We Go from Here? -- References -- What Has Happened in Europe? Monetary Policy, Lending Cycles, Banking Competition, Risk-Taking, and Regulation Jes250;s Saurina, Banco de Espa241;a -- 1. Introduction -- 2. What Has Happened in Europe? -- 3. Why Has It Happened? Some Potential Explanations -- 4. What Can Be Done? Countercyclical Regulation -- 5. Lessons for Bank Regulation/Supervision -- 6. Conclusion -- References -- The Subprime Crisis Effects in the Rest of the World Laura E. Kodres, International Monetary Fund -- 1. Before and Now -- 2. Why? -- 3. Who? Linkages Known and Unknown -- 4. Whats Next? -- 5. What Can Anyone Do about It? -- III. How Serious is the Damage? -- Bank Failures: The Limitations of Risk Modeling Patrick Honohan, Trinity College and Center for Economic Policy Research -- 1. Introduction and Summary -- 2. Four Failure Categories -- 3. Conclusion -- References -- Comments: How Serious is the Damage? Christopher Kent, Reserve Bank of Australia -- 1. Overview 8212; Lessons from Australias History of Financial Turmoil -- 2. Patrick Honohan 8212; Bank Failures: The Limitations of Risk Modelling -- 3. David Greenlaw 8212; Costs for the Real Economy of Balance Sheet Problems -- 4. S. 8220;Vish8221; Viswanathan 8212; Damage to Financial Markets -- 5. Concluding Remarks -- References -- IV. Why did It Go Undetected/Underestimated for So Long? -- Cliff Risk and the Credit Crisis Joseph R. Mason, Louisiana State University -- 1. Introduction -- 2. How to Post Record Profits with Negative Cash Flows -- 3. How to 8220;Sell8221; Without Transferring Responsibility -- 4. Without Risk Transfer There Can be No True Sale -- 5. Summary and Conclusion: Everything Old is New Again -- References -- The Credit Crunch of 2007: What Went Wrong? Why? What Lessons Can be Learned? John C. Hull, University of Toronto, Canada -- Abstract -- 1. Introduction -- 2. The U.S. Housing Market -- 3. Securitization -- 4. Lessons -- 5. Conclusions -- References -- Overdependence on Credit Ratings was a Primary Cause of the Crisis Frank Partnoy, University of San Diego School of Law -- 1. Introduction -- 2. Some Background and Theory: Reputation versus Regulatory Licenses -- 3. The Growth of 8220;Second-Level8221; Mortgage Securitization -- 4. Credit Ratings as Drivers of Second-Level Securitiz. | |
| 520 | |a Since the summer of 2007, credit markets in almost all industrial countries have been in substantial turmoil and this has become the focus of intense policy debates. The papers in this volume are contributed by the world's leading financial experts and constitute a thorough examination of the first credit market turmoil of the 21st Century. They provide an overview of the main causes, transmission mechanisms and economic implications of what by now has become a major systemic financial crisis. They assess the most important policy considerations and conclude about how to stabilize financial s. | ||
| 590 | |a ProQuest Ebook Central |b Ebook Central Academic Complete | ||
| 650 | 0 | |a Global Financial Crisis, 2008-2009 |v Congresses. | |
| 650 | 0 | |a Credit control |x History |y 21st century |v Congresses. | |
| 650 | 0 | |a International finance |v Congresses. | |
| 650 | 6 | |a Crise financière mondiale, 2008-2009 |v Congrès. | |
| 650 | 6 | |a Crédit |x Politique gouvernementale |x Histoire |y 21e siècle |v Congrès. | |
| 650 | 7 | |a Credit control |2 fast | |
| 650 | 7 | |a International finance |2 fast | |
| 647 | 7 | |a Global Financial Crisis |d (2008-2009) |2 fast |0 (OCoLC)fst01755654 |1 https://id.oclc.org/worldcat/entity/E39Qhp4vBbr3T8xBMDbJhDhGmm | |
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