Macroeconomic Stability and Financial Regulation: Key Issues for the G20

Mathias Dewatripont, Xavier Freixas, Richard Portes, 2 March 2009

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Table of Contents

About the Contributors
Acknowledgements 

Introduction, main policy proposals and summary

Global Imbalances
Richard Portes

The Global Crisis and Capital Flows to Emerging Markets
Philip Lane

The Risk of Deflation
Stefan Gerlach

Zero Interest Rate Policies and Quantitative Easing
Takatoshi Ito

Fiscal Sustainability
Willem Buiter

Financial Crises: Mechanisms, Prevention and Management
Markus Brunnermeier

Mitigating the Procyclicality of Basel II 
Rafael Repullo, Jesús Saurina and Carlos Trucharte

The Regulation of Credit Derivative Markets 
Hendrik Hakenes and Isabel Schnabel

Credit Ratings Failures: Causes and Policy Options 
Marco Pagano and Paolo Volpin

The Treatment of Distressed Banks 
Mathias Dewatripont and Jean Charles Rochet

Corporate Governance and the Credit Crisis 
Marco Becht

Professor at ECARES, Université Libre de Bruxelles and CEPR Research Director

Dean of the Undergraduate School of Economics and Business Administration and Professor at the Universitat Pompeu Fabra; CEPR Research Fellow

Professor of Economics at London Business School and President of CEPR