Sovereign debtors and their national banking systems are closely linked through a range of direct and indirect channels.
How to loosen the banks-sovereign nexus
Paolo Angelini, Giuseppe Grande, 8 April 2014
Estimating the impact of changes in aggregate bank capital requirements during an upswing
Joseph Noss, Priscilla Toffano, 6 April 2014
The recent financial crisis and economic contraction that followed highlighted the crucial role that banks play in facilitating the extension of credit and enabling economic growth. This underlies the economic rationale for imposing regulations on the banking industry, including minimum capital requirements designed to mitigate risks banks would not otherwise account for in their behaviour.
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
- Internationalisation, innovation, and productivity of firmsAltomonte, Aquilante, Békés, Ottaviano
- How rich nations benefit from EU membershipCampos, Coricelli, Moretti
- The ECB should do QE via forex interventionFrankel
- The chartbook of economic inequalityAtkinson, Morelli
- Predicting economic turning pointsAhir, Loungani
- A tale of two depressions: What do the new data tell us? February 2010 updateEichengreen, O’Rourke
- The ECB’s stealth bailoutSinn
- Educated in America: College graduates and high school dropoutsHeckman, LaFontaine
- Eurozone breakup would trigger the mother of all financial crisesEichengreen
- Panic-driven austerity in the Eurozone and its implicationsDe Grauwe, Ji
Mulgan, 11 April 2014
Campos, Coricelli, Moretti
Ostry, Berg, Tsangarides
CEPR Policy Research
- The buyer margins of firms' exportsCarballo, Ottaviano, Volpe
- Commodity and Equity Markets: Some Stylized Facts from a Copula ApproachDelatte, Lopez
- Ethnic Unemployment Rates and Frictional MarketsGobillon, Rupert, Wasmer
- Finance and Poverty: Evidence from IndiaAyyagari, Beck, Hoseini
- The Manipulation of Basel Risk-WeightsMariathasan, Merrouche