The Interplay between regulations and financial stability

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Title: The Interplay between regulations and financial stability
Authors: Allen, HF
Gu, X
Item Type: Journal Article
Abstract: 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.
Issue Date: 1-Jun-2018
Date of Acceptance: 13-Mar-2018
URI: http://hdl.handle.net/10044/1/58040
DOI: https://dx.doi.org/10.1007/s10693-018-0296-7
ISSN: 0920-8550
Publisher: Springer Verlag
Start Page: 233
End Page: 248
Journal / Book Title: Journal of Financial Services Research
Volume: 53
Issue: 2-3
Copyright Statement: © The Author(s) 2018. This article is distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution, and reproduction in any medium, provided you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license, and indicate if changes were made.
Keywords: Social Sciences
Business, Finance
Business & Economics
Financial crises
Asset price bubbles
Contagion
Macroprudential
SYSTEMIC RISK
DEPOSIT INSURANCE
BANK RUNS
TO-MARKET
CONTAGION
NETWORKS
LIQUIDITY
DISTRESS
PANICS
CRISES
1502 Banking, Finance And Investment
1501 Accounting, Auditing And Accountability
Finance
Publication Status: Published
Online Publication Date: 2018-04-18
Appears in Collections:Imperial College Business School



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