Have we solved 'too big to fail'?
Andrew G Haldane, 17 January 2013
Bank governance and regulation
Luc Laeven, 25 October 2011
Regulations for banks are being rewritten in response to the global financial crisis. The Basel III framework is being adopted, capital requirements are being increased, and safety nets have expanded in scope and size, all with the aim of making banks safer.
Do not be detoured by bankers and their friends; our future financial salvation lies in the direction of Basel
Avinash Persaud, 23 September 2011
For the past decade I have been a trenchant critic of the international banking rules developed in Basel. Nine years ago, I wrote an editorial in The Financial Times1 highlighting the perverse irony of bankers capturing their regulators and yet fashioning international banking regulation in a way that would lead them to systemic collapse.
Tax banks to discourage systemic-risk creation, not to fund bailouts
Enrico Perotti, 7 February 2010
The burning issue of funding the bailout has finally led to the first policy action on financial taxation. The good news is that it is not a Tobin tax on all financial transactions, which would be a very crude and distortionary solution.
Sudden financial arrest
Ricardo Caballero, 17 November 2009
“Sudden cardiac arrest (SCA) is a condition in which the heart suddenly and unexpectedly stops beating. When this happens, blood stops flowing to the brain and other vital organs…. SCA usually causes death if it’s not treated within minutes….”
– US National Institute of Health
Liquidity risk charges as a macro-prudential tool
Enrico Perotti, Javier Suarez, 7 November 2009
The recent financial crisis was unprecedented in scale and speed of propagation. The original housing shock was severely compounded by banks’ extreme funding fragility (Brunnermeier 2009). Banks’ risk-absorbing capacity had been reduced not just by lower capital buffers but also by extremely short-term funding.
Mitigating the procyclical effects of bank capital regulation
Rafael Repullo, Jesús Saurina, Carlos Trucharte, 24 September 2009
The G20 April 2009 London Summit put forward recommendations “to mitigate procyclicality, including a requirement for banks to build buffers of resources in good times that they can draw down when conditions deteriorate.” Many proposals have been published since. On 3 September 2009, the US Treasury stated that the principal options were adopting either
Financial innovation, regulation, and reform
Charles W Calomiris, 12 February 2009
Banking on the average: A new way to regulate banks
Hans Gersbach, 7 September 2011
Editor's Note: This column was originally posted on 8 January 2009. It proposes a novel solution to the current bank-regulation debate.
Jon Danielsson, 29 September 2008
Uncertainty about asset values is a key factor in the wave of financial institutions failures we have been experiencing. It used to be that banks became insolvent because their loans went sour. Now it is the complexity of assets that lets them down.
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CEPR Policy Research
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- How the EZ crisis is permanently changing EU institutionsMicossi
- 21st Century Challenges: The Mobile Middle Class13 - 13 March 2014 / Royal Geographical Society, 1 Kensington Gore, SW7 London / Royal Geographical Society (with IBG)
- The 13th Annual GEP Postgraduate Conference 20141 - 2 May 2014 / Nottingham / Sponsored by Nottingham Centre for Research on Globalisation and Economic Policy (GEP) University of Nottingham, United Kingdom
- Exchange Rates and External Adjustment2 - 3 June 2014 / Zurich / Swiss National Bank
- 13th Summer School in International Development Economics: Investment, Saving and Wellbeing in Developing Countries10 - 13 June 2014 / Palazzo Feltrinelli, Gargnano, Lake Garda (Italy) / Organisers: Centro Studi Luca d’Agliano, Centre for Economic Policy Research (CEPR), Paolo Baffi Center on International Markets, Money and Regulation, Department of Economics, Management and Quantitative Methods of the University of Milan, Department of Economics, Quantitative Methods and Business Strategies of the University of Milan Bicocca, Vilfredo Pareto Doctoral Program in Economics of the University of Turin, The Lombardy Advanced School of Economic Research (LASER).
- 3rd WB-BE Research Conference: Financing growth: Levers, Boosters and Brakes23 - 24 June 2014 / Banco de España headquarters in Madrid / This conference is sponsored by Banco de España and The World Bank