Why supervisors should continue measuring financial risks – the fallacy of simple rules

Lars Frisell, 7 November 2012

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Measuring financial risk is notoriously difficult. But no more difficult than measuring any other risk. Take, for example, the risk of flooding.

Topics: Financial markets, Global crisis, Institutions and economics, International finance
Tags: capital charges, global crisis, global crisis debate, leverage ratios, risk

Real Time Solutions for US Financial Reform

Viral Acharya, Thomas F Cooley, Matthew Richardson, Ingo Walter, 15 December 2009

URL: http://www.voxeu.org/reports/financial_reform.pdf
Topics: Global crisis
Tags: Banking reform, financial market reform, global crisis debate

Real time solutions for US financial reform: A new ebook

Viral Acharya, Matthew Richardson, Ingo Walter, Thomas F Cooley, 15 December 2009

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November 2008 saw the global financial system on the brink of collapse; the crisis – which began in 2007 – had entered a new and dangerous phase. That time we responded by gathering a group of world-renown financial market experts to evaluate:

Topics: Global crisis
Tags: Banking reform, financial market reform, global crisis debate

Green shoots: Grounds for cautious pessimism

Willem Buiter, 29 April 2009

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I am not going to use this opportunity to deepen the gloom by exploring at length the possible consequences of a worldwide pandemic of a virulent form of swine flu. Just a few depressing words will have to suffice. From an economic perspective, a flu pandemic amounts to at least a temporary reduction in the effective supply of labour.

Topics: Global crisis
Tags: global crisis debate, global recession, green shoots

China’s Syndrome: The “dollar trap” in historical perspective

Olivier Accominotti, 23 April 2009

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China’s huge volume of dollar reserves is now at the centre of serious concerns about the future of the US currency. The origin of this situation dates back to the early 2000s, after the East Asian and Russian crises. At that time, accumulating foreign reserves was considered benign policy.

Topics: Economic history, International finance
Tags: dollar trap, global crisis debate, Great Depression, trade liberalisation, trading with africa

The Report of the Manuel Committee on IMF Governance Reform: What’s good, what’s less good, and what’s missing?

Biagio Bossone, 21 April 2009

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In recent years, especially since the start of the first global crisis of the new millennium, reforming the governance of global finance, particularly the Bretton Woods institutions, has attracted increasing attention from analysts and policymakers involved in international financial issues.

Topics: Global governance
Tags: global crisis debate, IMF reform, institution reform, Institutional reform

Stress tests and the decoupling of Main and Wall Street

Ricardo Caballero, 20 April 2009

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As the date for the release of the stress tests on the largest 19 US banks approaches, anxiety levels and strategic positioning are on the rise. One of the main concerns (from a macroeconomic point of view) is whether the stress tests’ parameters are extreme enough given the current scenario.  Opponents of the US Administration’s CAP/PPIP program (i.e.

Topics: Financial markets
Tags: CAP, global crisis debate, PPIP, stress tests

What do the new data tell us?

Barry Eichengreen, Kevin Hjortshøj O’Rourke, 8 March 2010

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Editor's Note: This column updates the original Vox columns by Barry Eichengreen and Kevin O’Rourke comparing today’s global financial crisis to the Great Depression. The previous columns have shattered all Vox readership records with over 450,000 views (O’Rourke and Eichengreen 2009).

Topics: Global crisis
Tags: Depression, global crisis, global crisis debate, global output, Great Depression, tale of two depressions, world trade

The G20 communiqué: Work in progress but good news for emerging markets

Guillermo Calvo, 6 April 2009

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From the perspective of Financial Architecture, the G20 communiqué represents a major and positive change in the way world leaders view financial crises. They have definitely moved from a view according to which crises are largely homegrown, to a view that allows for the existence of systemic crises, chain-reaction accidents involving many innocent bystanders.

Topics: Global crisis
Tags: emerging markets, global crisis debate, sudden stops

Trade and the London Summit outcome

Richard Baldwin, 4 April 2009

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The London Communiqué confirms that issues surrounding international trade have moved up the G20 agenda. The commitments made could have been much stronger, but I believe that what was agreed on protectionism can be graded as “not bad”. On the Doha Round, the Summit’s pledge was pitiful – it should be graded “very sad”.

Topics: Global crisis
Tags: G20 Summit, global crisis debate, murky protectionism, trade

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