| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP12862 |
| DP12862 The Interplay between Regulations and Financial Stability | |
| Franklin Allen | |
| 发表日期 | 2018-04-11 |
| 出版年 | 2018 |
| 语种 | 英语 |
| 摘要 | The crisis demonstrated that microprudential regulation focusing on the risks taken by individual banks is not sufficient to prevent crises. This is because it ignores systemic risk. Six types of systemic risk are identified, namely: (i) panics – banking crises due to multiple equilibria; (ii) banking crises due to asset price falls; (iii) contagion; (iv) financial architecture; (v) foreign exchange mismatches in the banking system; (vi) behavioral effects from Knightian uncertainty. We focus on the first three as they are arguably the main causes of the 2007-9 crisis and consider regulatory and other policies to counteract them. |
| 主题 | Financial Economics |
| 关键词 | Financial crises Asset price bubbles Contagion Macroprudential |
| URL | https://cepr.org/publications/dp12862 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/541672 |
| 推荐引用方式 GB/T 7714 | Franklin Allen. DP12862 The Interplay between Regulations and Financial Stability. 2018. |
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