Stability of the Financial System

Illusion or Feasible Concept?

Inbunden, Engelska, 2013

3 849 kr

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In the aftermath of the financial crisis, new financial market regulation is being implemented, and increasing numbers of countries are establishing new legislation for macroprudential oversight. Against this backdrop, this thought provoking book provides a platform for the leading international experts to discuss and encourage future debate on financial stability.The breadth and scope of the issues addressed reflect the challenge of developing and consistently implementing a coherent set of financial reforms to promote financial stability. The book advocates the development of financial reforms that are effective in striking the optimal balance between realizing the enormous benefits of efficient financial intermediation, capital allocation and risk management on the one hand, and controlling systemic risks and maintaining financial stability on the other.Making an important contribution to deepening our understanding of the many facets of financial stability, this book will prove a challenging read for policy makers, regulators and central bankers as well as for researchers and scholars in the fields of economics, money, finance and banking.Contributors include: P. Angelini, S.N. Altimari, L. Bini Smaghi, M. Blessing, C.M. Buch, M.C. Burda, J.M. Campa Fernandez, M. Carney, J. Caruana, A. Dombret, W.P. Gaglianone, P. Hildebrand, V. Hofstätter, A. Ittner, K.H.W. Knot, U. Körner, C. Lagarde, J.-P. Landau, S. Lautenschläger, D.T. Llewellyn, O. Lucius, Y. Mersch, H. Nakaso, E. Nowotny, L.A. Pereira da Silva, W. Rothensteiner, A. Soares Sales, N. Sheets, P. Tucker, G. Tumpel-Gugerell, H. van Voorden, I. Visco

Produktinformation

Utgivningsdatum2013-04-30
Mått156 x 234 x undefined mm
FormatInbunden
SpråkEngelska
FörlagEdward Elgar Publishing Ltd
ISBN9781782547839

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Contents:PrefaceStability of the Financial System – An IntroductionMark CarneyPART I: ABOUT FINANCIAL STABILITY1. Financial and Fiscal Stability Beyond the Crisis Years: Two Paradigm Shifts and their ConsequencesMartin Blessing2. Criteria for Financial Stability – The European ViewAndreas Dombret3. Criteria for Financial Stability – A US ViewNathan Sheets4. Financial Stability in BrazilLuiz Awazu Pereira da Silva, Adriana Soares Sales and Wagner Piazza Gaglianone5. From the Stability Pact to ESM – What Next?Claudia M. Buch6. Economic Convergence – The Need for Economic Cooperation and CoordinationWalter Rothensteiner and Valentin Hofstätter7. Banking System and Financial StabilityAndreas Ittner8. Competition, the Pressure for Returns, and StabilityPaul Tucker9. Measuring Systemic RiskJaime CaruanaPART II: THE CONSEQUENCES OF FINANCIAL INSTABILITY10. Sovereign RiskLorenzo Bini Smaghi11. Default of Systemically Important Financial Intermediaries: Short-Term Stability vs. Incentive CompatibilityYves Mersch12. Systemically Important Banks – Possible Options for Policy MakersKlaas H.W. Knot and Hanne van Voorden13. A Paradigm Shift: Resolution of BanksJean-Pierre Landau14. Consequences of Financial Shocks for the Real EconomyHiroshi Nakaso PART III: PREVENTION OF FINANCIAL INSTABILITY15. The Economics of Financial RegulationEwald Nowotny16. A Strategic Approach to Post Crisis Regulation – The Need for Pillar 4David T. Llewellyn17. Regulation of Banks and the ‘Level Playing Field’ – The Case of Shadow BankingOtto Lucius18. Enhancing Financial Stability – A Global Bank’s PerspectiveUlrich Körner19. Stable Liquidity and Funding FlowsJosé Manuel Campa Fernández20. How to Avoid Contagion and Spillover Effects in the Euro Zone?Michael C. Burda21. The New European Supervisory System – Harmonisation and Macroprudential OversightSabine Lautenschläger22. Macroprudential, Microprudential and Monetary Policies: Conflicts, Complementarities and Trade-OffsPaolo Angelini, Sergio Nicoletti-Altimari and Ignazio Visco 23. Why Central Banks need a Macroeconomic ToolkitPhilipp M. Hildebrand24. Lender of Last Resort – Which Institution Could Best Fulfil this Function?Gertrude Tumpel-GugerellStability of the Financial System: Illusion or Feasible Concept? An EpilogueChristine LagardeIndex