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Books > Law > Laws of other jurisdictions & general law > Financial, taxation, commercial, industrial law > Financial law
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Financial Regulation and Stability - Lessons from the Global Financial Crisis (Hardcover)
Loot Price: R3,301
Discovery Miles 33 010
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Financial Regulation and Stability - Lessons from the Global Financial Crisis (Hardcover)
Expected to ship within 12 - 17 working days
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'This is a most useful book which nicely combines theory and
practice. In it the authors provide a framework which helps us
better understand the nature of modern financial crises and how
monetary and regulatory policies interact in delivering price and
financial stability. Certainly worth reading by academics,
policymakers and all those interested in deepening their knowledge
of how modern financial systems work in both good and bad times.' -
Jose Vinals, Standard Chartered, UK 'This collection of papers is a
remarkable tour de force. Goodhart and Tsomocos have made
pioneering steps toward understanding the causes of financial
crises and showing how the financial system can be regulated to
reduce and mitigate them. A must-read for anyone interested in
financial stability.' - Doyne Farmer, University of Oxford, UK
'Today almost everyone realizes the crucial importance of
liquidity, a painful lesson taught by the global financial crisis.
This collection records that Goodhart and Tsomocos were early and
persistent voices, initially in the wilderness but now almost
mainstream, showing the way forward by clothing old wisdom in new
modelling.' - Perry G. Mehrling, Columbia University, US Charles
Goodhart and Dimitrios P. Tsomocos examine the interaction of
monetary and regulatory policy to achieve the important goals of
price and financial stability. Their focus is on the relationship
between liquidity and default in the post-crisis context, with
special emphasis on macroprudential regulation. Exploring how
financial stability can be continually assessed and measured,
Financial Regulation and Stability discusses the interrelationships
between liquidity and default. Without default there would be no
concern about liquidity. But the financial crisis was not just a
liquidity problem, it requires a general equilibrium model. The
authors' model delineates all the potential interrelationships
between the real and financial sectors of the economy, with special
emphasis on the interaction between liquidity and default.
Economists and central bankers will greatly benefit from the
practical advice offered in this book to aid financial stability.
Advanced students of financial economics will also find this a
vital read to understand the consequences of the 2007-8 financial
crisis in more depth and the lessons to be learnt.
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