Enemy Of None But A Common Friend Of All An International Perspectiveon The Lender Of Last Resort Function
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Enemy Of None But A Common Friend Of All An International Perspectiveon The Lender Of Last Resort Function
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Author : Curzio Giannini
language : en
Publisher: International Monetary Fund
Release Date : 1999-01-01
Enemy Of None But A Common Friend Of All An International Perspectiveon The Lender Of Last Resort Function written by Curzio Giannini and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1999-01-01 with Business & Economics categories.
The paper explores whether and how national lender-of-last-resort practices can be adapted internationally. Nationally, the effectiveness of such practices is based on a blend of resource availability, technical discretion as to the conditions attached, ex ante supervision, and powers of enforcement. Some features of the international environment, however, make it difficult to replicate this structure, which may explain why recent large-scale rescue packages have worked less than satisfactorily. Private contingent credit facilities and IMF lending into arrears in the context of internationally approved, temporary moratoria on foreign debt may nonetheless offer some scope for effective, although limited in aims and resources, international liquidity support, but this would require amending the IMF’s Articles of Agreement.
The Lender Of Last Resort
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Author :
language : en
Publisher: Routledge
Release Date :
The Lender Of Last Resort written by and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on with categories.
A Model Of The Lender Of Last Resort
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Author : Mr.Haizhou Huang
language : en
Publisher: International Monetary Fund
Release Date : 1999-03-01
A Model Of The Lender Of Last Resort written by Mr.Haizhou Huang and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1999-03-01 with Business & Economics categories.
This paper develops a model of the lender of last resort. It provides an analytical basis for “too big too fail” and a rationale for “constructive ambiguity”. Key results are that if contagion (moral hazard) is the main concern, the Central Bank (CB) will have an excessive (little) incentive to rescue banks and the resulting equilibrium risk level is high (low). When both contagion and moral hazard are jointly analyzed, the CB’s incentives to rescue are only slightly weaker than with contagion alone. The CB’s optimal policy may be non-monotonic in bank size.
The Oxford Handbook Of Institutions Of International Economic Governance And Market Regulation
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Author : Brousseau/Glachant/S
language : en
Publisher: Oxford University Press
Release Date : 2023-07-11
The Oxford Handbook Of Institutions Of International Economic Governance And Market Regulation written by Brousseau/Glachant/S and has been published by Oxford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-07-11 with Art categories.
His handbook is currently in development, with individual articles publishing online in advance of print publication. At this time, we cannot add information about unpublished articles in this handbook, however the table of contents will continue to grow as additional articles pass through the review process and are added to the site. Please note that the online publication date for this handbook is the date that the first article in the title was published online.
Globalization And The Nation State
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Author : Stephen Kosack
language : en
Publisher: Routledge
Release Date : 2004-08-02
Globalization And The Nation State written by Stephen Kosack and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004-08-02 with Business & Economics categories.
This book brings together an international team of contributors to assess the political economy of the IMF and World Bank programs. Contributors include Stephen Coate, Stephen Morris, Ravi Kanbur and Allen Drazen.
Global Governance And Financial Crises
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Author : Meghnad Desai
language : en
Publisher: Routledge
Release Date : 2003-09-25
Global Governance And Financial Crises written by Meghnad Desai and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003-09-25 with Business & Economics categories.
The editors of this book have pulled together a collection of chapters that review the spate of financial crises that have occurred in recent years starting with Mexico in 1994 and moving on to more recent crises in Turkey and Argentina. With impressive contributors such as Douglas Gale, Gabriel Palma and Andrew Gamble, the book is a timely and aut
The Political Economy Of European Banking Union
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Author : David J. Howarth
language : en
Publisher: Oxford University Press
Release Date : 2016
The Political Economy Of European Banking Union written by David J. Howarth and has been published by Oxford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016 with Business & Economics categories.
The establishment of Banking Union represents a major development in European economic governance and European integration history more generally. Banking Union is also significant because not all European Union (EU) member states have joined, which has increased the trend towards differentiated integration in the EU, posing a major challenge to the EU as a whole and to the opt-out countries. This book is informed by two main empirical questions. Why was Banking Union - presented by proponents as a crucial move to 'complete' Economic and Monetary Union (EMU) - proposed only in 2012, over twenty years after the adoption of the Maastricht Treaty? Why has a certain design for Banking Union been agreed and some elements of this design prioritized over others? A two-step explanation is articulated in this study. First, it explains why euro area member state governments moved to consider Banking Union by building on the concept of the 'financial trilemma', and examining the implications of the single currency for euro area member state banking systems. Second, it explains the design of Banking Union by examining the preferences of member state governments on the core components of Banking Union and developing a comparative political economy analysis focused on the configuration of national banking systems and varying national concern for the moral hazard facing banks and sovereigns created by euro level support mechanisms.
The Financial Crisis
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Author : P. Arestis
language : en
Publisher: Springer
Release Date : 2010-11-24
The Financial Crisis written by P. Arestis and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-11-24 with Business & Economics categories.
The 2008 financial crisis poses three fundamental questions for economists and policy makers; understanding the origins of the crisis, understanding the consequences of this crisis for the world economy, and finally understanding why the 2008 financial crisis is not as serious as the 1929 crisis. The prevailing view is that the 2008 financial crisis was solely the result of inadequate financial regulation together with a very loose monetary policy conducted by central banks, especially the Fed. It is believed that this crisis is a temporary detour in the normal course of the events, so that in the near future capitalist economies will resume the high growth path observed before the crisis. In terms of the third question, there is a widespread view that the fundamental reason that explains the avoidance of the harmful experiences of 1929 was the fiscal and monetary policy expansions in developed countries. No important role is assigned to developing countries in terms of the effects of the financial crisis. This book challenges the prevailing orthodoxy surrounding the origins and the consequences of the 2008 financial crisis. The book demonstrates that measures in addition to a profound change in the financial regulation are required if a new financial crisis is to be avoided in the future, measures include: a change in the conduct of economic policy; a reform of the national and international monetary systems; and a radical change in the pattern of income distribution. This book is essential reading for all interested in macroeconomics, monetary policy, development economics and the global impact of the financial crisis.
The Imf And Global Financial Crises
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Author : Joseph P. Joyce
language : en
Publisher: Cambridge University Press
Release Date : 2013
The Imf And Global Financial Crises written by Joseph P. Joyce and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013 with Business & Economics categories.
Joyce traces the IMF's actions to promote international financial stability from the Bretton Woods era through the recent recession.
The International Financial Architecture
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Author : Peter B. Kenen
language : en
Publisher: Peterson Institute
Release Date : 2001
The International Financial Architecture written by Peter B. Kenen and has been published by Peterson Institute this book supported file pdf, txt, epub, kindle and other format this book has been release on 2001 with Business & Economics categories.
Kenen (economics and international finance, Princeton University) reviews the reform efforts that followed the 1994-95 Mexican crisis, and evaluates their results in the time since then. He compares the existing efforts with the more radical recommendations of the Meltzer Report, and considers the implications of his analysis for the role of the IMF. He then offers his own recommendations for further reform. c. Book News Inc.