Despite the growth episodes observed in the nineties

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Unformatted text preview: fect all players equally (provided regulation is truly neutral) and are for the common good, which should ease the way for fruitful coordination, much as in the case of monetary policy. 50 References Abreu, Dilip and Markus Brunnermeier, 2003, “Bubbles and Crashes”, Econometrica, 71‐1, pp 173‐204. Adrian, Tobias and Hyun Song Shin, 2007, “Liquidity and Leverage”, Mimeo, Federal Reserve Bank of New York and Princeton University. Adrian, Tobias, and Hyun Song Shin, 2008, “Financial Intermediaries, Financial Stability, and Monetary Policy”, Federal Reserve Bank of New York Staff Report 346. Allen, Franklin and Douglas Gale, 1998, “Bubbles and Crises”, Wharton School Working Paper 98‐01. Allen, Franklin, and Douglas Gale, 2003, “Capital Adequacy Regulation: In Search of a Rationale”, in Economics for and Imperfect World by Joseph E. Stiglitz, Richard Arnott, Bruce Greenwald, and Ravi Kanvur. MIT Press. Allen, Franklin, and Douglas Gale, 2005, “Systemic Risk and Regulation”, Wharton Financial Institutions Center Working Paper No. 95‐24. Ambrose, Brett, Michael Lacour‐Little, and Anthony Sanders, 2005, “Does Regulatory Arbitrage of Asymmetric Information Drive Securitization?”, Journal of Financial Services Research. Arrow, Kenneth, and Robert Lind, 1970, “Uncertainty and the Evaluation of Public Investment Decisions”, American Economic Review 60, pp 364‐378. Ashcraft, Adam, and Til Schuermann, 2008, “The Seven Deadly Frictions of Subprime Mortgage Credit Securitization”, Mimeo, Federal Reserve Bank of New York. Azariadis, Costas, 1981, “Self‐Fulfilling Prophecies”, Journal of Economic Theory, 25, 380‐96. Barberis, Nicholas, and Richard Thaler, 2003, “A Survey of Behavioral Finance”, in Handbook of the Economics of Finance, George Constantinides, Milton Harris and Rene Stulz, editors, Elsevier. Basel Committee on Banking Supervision, 2008a, “Principles for Sound Liquidity Risk Management and Supervision”, Bank for International Settlements, June. Basel Committee on Banking Supervision, 2008b, “Proposed Revisions to the Basel II Market Risk Framework”, Bank for International Settlements, July. Basel Committee on Banking Supervision, 2009, “Proposed Enhancements to the Basel II Framework”, Bank for International Settlements, January. Berger, Allen, Richard Herring, and Giorgio Szego, 1995, “The Role of Capital in Financial Institutions”, Wharton School Working Paper 95‐01. Boot, Arnoud, Stuart Greenbaum, and Anjan Thakor, 1993, “Reputation and Discretion in Financial Contracting”, American Economic Review, 83, pp 1165‐1183. Borio, Claudio, 2003, “Towards a Macroprudential Framework for Financial Supervision and Regulation?”, BIS Working Paper 128. Brunnermeier, Markus, 2008, “Deciphering the 2007‐2008 Liquidity and Credit Crunch”, Journal of Economic Perspectives, (forthcoming). Brunnermeier, Markus, Andrew Crockett, Charles Goodhart, Avinash Persaud, and Hyun Shin, 2009, The Fundamental Principals of Financial Regulation: 11th Geneva Repor...
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