Unfinished Business: The Unexplored Causes of the Financial Crisis and the Lessons Yet to be Learned

Voorkant
Yale University Press, 2017 - 286 pagina's
Cover page -- Halftitle page -- Title page -- Copyright page -- Dedication -- CONTENTS -- FIGURES -- ACKNOWLEDGEMENTS -- INTRODUCTION The Needle (and the Damage Done) -- The Needle -- The Damage Done -- What Went Wrong -- PART I ANATOMY OF THE NORTH ATLANTIC FINANCIAL CRISIS -- Chapter 1 EUROPEAN BANKS UNFETTERED -- The Road to Hell is Paved with Good Intentions -- Charting the Transformation of European Banking 1985-2002 -- The European Banking System in 2002 -- Chapter 2 US SHADOW BANKS UNLEASHED -- Inflation and the Rise of a Dual Banking System -- Bank Regulators Looking Under the Wrong Lamppost -- Investment Bankers Become Masters of the Universe -- Charting the Transforming US Financial System -- The US Financial System in 2002 -- Chapter 3 BOOM AND BUST -- Regulators and the Cross-Atlantic Financial Drift -- How the Basel Committee Encouraged Euro Area Mega-Banks -- Charting the Unsustainable North Atlantic Financial Boom -- Charting the North Atlantic Macroeconomic Boom and Bust -- Similar Macroeconomic Booms, Dissimilar Busts -- PART II MISDIAGNOSING THE NORTH ATLANTIC ECONOMY -- Chapter 4 A FLAWED MONETARY UNION -- Differing Visions of Monetary Union -- Jacques Delors and His Committee -- The Maastricht Treaty -- The Flawed Single Currency -- Chapter 5 INTELLECTUAL BLINKERS AND UNEXPECTED SPILLOVERS -- How The Efficient Markets Hypothesis undermined Bank Regulation -- The Great Moderation and Overestimation of Monetary Policy's Effectiveness -- How Benign Neglect Undermined International Policy Cooperation -- How Economic Models Distorted Policymaking -- Chapter 6 A HISTORY OF THE INTERNATIONAL MONETARY SYSTEM IN FIVE CRISES -- Why International Debt Flows Are So Skittish -- International Debt and Its Discontents -- Charting International Financial Crises -- Taming International Debt Flows -- PART III COMPLETING THE CURE
 

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Inhoudsopgave

INTRODUCTION The Needle and the Damage Done
1
PART I ANATOMY OF THE NORTH ATLANTIC FINANCIAL CRISIS
13
PART II MISDIAGNOSING THE NORTH ATLANTIC ECONOMY
107
PART III COMPLETING THE CURE
183
FINAL THOUGHTS
250
NOTES
256
REFERENCES
265
INDEX
273
Copyright

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Over de auteur (2017)

Tamim Bayoumi is deputy director in the strategy, policy, and review department at the IMF. He wrote this book while he was a senior fellow at the Peterson Institute for International Economics. He lives in Washington, DC.

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