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Format: 1 Online-Ressource (xvii, 240 Seiten) , Illustrationen, Diagramme

ISBN: 9781788119498

Additional Edition: Erscheint auch als Druck-Ausgabe ISBN 978-1-78811-948-1

Language: English

Subjects: Economics

Keywords: Finanzkrise ; Geldpolitik ; Öffentliche Schulden ; Regulierung ; Electronic books

DOI: 10.4337/9781788119498

URL: Volltext  (URL des Erstveröffentlichers)

URL: Volltext  (Deutschlandweit zugänglich)

URL: Deutschlandweit zugänglich

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Format: xvii, 240 Seiten.

ISBN: 978-1-78811-948-1

Additional Edition: Erscheint auch als Online-Ausgabe ISBN 978-1-78811-949-8

Language: English

Subjects: Economics

Keywords: Finanzkrise ; Geldpolitik ; Öffentliche Schulden ; Regulierung

UID:

Format: 1 online resource (264 pages)

ISBN: 9781788119498 (e-book)

Content: All Fall Down traces the ways in which changes in financial structure and regulation eroded monetary control and led to historically high levels of debt relative to GDP in both developed and emerging economies. Rising stocks of debt drove the global financial system into crisis in 2008 when households, businesses, financial institutions and the public sector in some countries strained to generate sufficient income for debt service. The stagnation and fall in asset prices that followed began the process of unwinding that led to a run on the financial sector by the financial sector. This engaging examination describes critical developments that changed the structure of US financial markets as well as developments and innovations in US credit markets that created the context for crisis. It discusses the advent of dollar hegemony, the critical role of international reserves in generating credit, the emergence of the debt bubble in the 1980s and the mounting risks of debt in the new millennium. The author also proposes a systemic approach to monetary control, offering two new reform proposals. The analysis concludes that reforms are needed in order to support sustainable economic activity in the US and global economies. This volume will appeal to students and scholars of economics interested in international finance and banking, financial regulation and monetary policy implementation. It will also be of interest to business economists, lawyers, policymakers and journalists concerned with the effects of financial instability and involved in ongoing debates on financial and monetary reform.

Note: Includes index. , Contents: 1. Introduction and summary -- Part I: the unraveling of the 1930s-era framework -- 2. The Euro market erodes US financial structure -- 3. Commercial paper guarantees and the emergence of a parallel banking system -- 4. ERISA moves savings into securities markets -- Part II: deregulation and financial innovation create the context for crisis -- 5. An overview of financial restructuring and its consequences -- 6. Securitization -- 7. Weaving the web of interconnectedness -- 8. Opaque markets and opaque balance sheets -- 9. Growing concentration leads to "too big to fail" -- 10. Regulating the post-crisis system -- 11. Mending the financial safety net for savers -- Part III: The advent of globalization -- 12. Dollar hegemony -- 13. Foreign exchange reserves -- 14. An overview of developments in global financial markets in the 1990s -- Part IV: Building toward crisis in the global economy -- 15. Concerns and warnings -- 16. Crises in the periphery of the global system -- 17. Liquidity expansion in the period before the crisis -- Part V: Debt and the collapse of monetary control -- 18. The failure to halt the emergence and growth of the debt bubble -- 19. Rising imbalances in credit flows -- 20. Mounting risks of the continuing debt bubble in the new millennium -- 21. How eroding monetary tools facilitated debt creation -- 22. Monetary tools: what they are and how they function -- 23. The inability of capital requirements to prevent or moderate financial crises XXX -- 24. How crisis reshaped the monetary toolkit -- Part VI: An agenda for monetary reform -- 25. Introducing a systemic approach -- 26. Creating a system-wide asset-based reserve system -- 27. Implementing policy under the current and proposed systems -- 28. Implications of the proposed system for the conduct of policy -- Part VII: reforming the privatized international monetary system -- 29. Can the SDR replace the dollar and other national currencies as a reserve asset? -- 30. Restructuring flows of private international investment into emerging and developing economies -- 31. Reforming the international payments system -- Part VIII: Conclusion -- 32. Building toward crisis in the global economy - again -- Bibliography -- Index.

Additional Edition: ISBN 9781788119481 (hardback)

Language: English

Keywords: Electronic books. ; Electronic books ; Electronic books. ; Electronic books.

URL: https://www.elgaronline.com/view/9781788119481/9781788119481.xml

URL: FULL  ((Currently Only Available on Campus))

URL: https://www.elgaronline.com/view/9781788119481/9781788119481.xml

URL: https://www.elgaronline.com/view/9781788119481/9781788119481.xml

UID:

Format: 1 online resource (526 pages)

Edition: 1st ed.

ISBN: 9781563242328 , 9781315699813

Content: Volume II of this book grew out of the author's work as an economist for the U.S. Congress on the staff of the House Banking Committee. It is a re-examination of the validity of traditional concerns in order to establish the Context for congressional actions to modify the existing regulatory and structural framework

Note: Cover -- Half Title -- Title Page -- Copyright Page -- Dedication -- Table of Contents -- List of Tables and Figures -- Acknowledgments -- Preface -- Introduction -- Part I: The Framework for Financial Structure and Regulation -- 1 The Current Debate on Regulatory Policy -- Introduction -- The Issue of Financial Consolidation -- Reorganizing the Regulatory Framework -- Eliminating Special Treatment for Banks -- The Limits to Deregulation -- The Impact of Financial Structure and Regulation on Economic Activity -- 2 Issues in the Evolution of Federal Regulation -- Introduction -- Commercial and Investment Banking in the United States -- The Emerging Trend toward Financial Consolidation -- Financial Restructuring in the 1980s -- An Alternative Model: The German Universal Banking System -- 3 The Changing Financial Environment -- Introduction -- The Monetary and Fiscal Environment -- The Interaction of Macroeconomic and Financial Developments in the 1970s -- Technological Change -- The Internationalization of Financial Institutions and Markets -- Changes in Demands for Financial Services -- Part II: The Goals of Regulation -- Introduction -- 4 Access to Capital and Credit -- Introduction and Summary -- An Overview of the Federal Government's Role in Financial Markets -- The Effects of Interest Rate Deregulation on Credit Flows -- Product and Structural Changes That Altered Financial Flows -- The Absence of Market Innovations to Facilitate Capital Formation -- Summary of Policy Concerns -- 5 Balancing Competition and Soundness: The Debate on Bank Regulation -- Introduction -- Soundness Regulation and Competitive Restraints -- Deregulation and Risk -- Interdependence and Systemic Risk -- Substituting Market Forces for Direct Regulation -- Regulating in a Deregulated Environment -- Managing Liquidity -- A Summary of Policy Concerns , 6 Promoting Competition and the Impartiality of Credit Decisions -- Introduction: Specialization and Diversity versus Consolidation -- Consolidation as an Impediment to Impartiality -- Consolidation and Financial Stability: The Role of Banks -- Conflicts of Interests -- Cross-Selling and Tying Financial Services -- The Concentration of Financial Resources -- Summary of Policy Concerns -- 7 Preserving the Economic Functions of Financial Markets -- Introduction: An Overview of Financial "Missions -- Capital Investment Trends in the United States -- Developments in U.S. Capital and Credit Markets in the 1980s -- Changes in the Structure and Economic Functions of Capital Markets in the 1980s -- Summary of Policy Concerns -- Part III: Protecting Customers of Financial Institutions -- Introduction and Summary -- 8 Regulation to Ensure Soundness and Fiduciary Responsibility -- Introduction: Objectives and Problems -- Differences in Regulatory Approaches -- The Proliferation of Regulatory Disparities -- Disparities between State and Federal Regulation -- Summary and Policy Concerns -- 9 Investor Protection -- Introduction: The Role of Disclosure -- Disclosure Requirements for Depository Institutions -- The Implications of the Internationalization of Capital Markets for Investor Protection -- The SEC's Expanding International Role -- 10 Financial Guaranty Insurance Programs -- An Overview of Financial Guaranty Insurance Programs -- Erosion of the Rationale for Differences in Protection -- The Adequacy of Financial Guaranty Insurance Programs -- The Conflicting Goals of Deregulation and Insurance Protection -- Proposals to Reconcile Deposit Insurance Protection and Market Discipline -- Summary of Policy Concerns -- Part IV: Proposals for Reform -- 11 Reforming Financial Guaranty Programs -- Introduction and Summary -- Recent Proposals for Reform , The Need to Reframe Reform Proposals -- An Alternative Proposal for Protecting Savings -- Protecting Transactions Balances -- 12 Providing Uniform Regulation -- Introduction and Summary -- The Development of a Parallel Banking System -- Banks' Role in Promoting the Parallel System -- Structure and Operations of Finance Companies -- Problems Confronting Finance Companies -- Public Policy Concerns -- The Need for Uniform Regulation -- Appendix A: Credit Allocation in the 1970s -- Appendix B: Some Effects of International Capital Flows on U.S. Credit Markets -- References -- Index -- About the Author

Additional Edition: Print version D'Arista, Jane W. The Evolution of US Finance: V. 2: Restructuring Institutions and Markets Oxford : Taylor & Francis Group,c1994 ISBN 9781563242328

Language: English

Keywords: Electronic books

URL: FULL  ((OIS Credentials Required))

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Format: XIX, 505 S

ISBN: 156324232X , 1563242338

Series Statement: Columbia University seminar series

In: 2

Language: Undetermined

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Format: XVI, 253 S

ISBN: 1563242303 , 1563242311

Series Statement: Columbia University seminar series

In: 1

Language: Undetermined

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ISBN: 1563243962 , 1563243970

Series Statement: Columbia University seminar series

Note: Erschienen: 1 - 2

Language: Undetermined

UID:

Format: XIX, 504 S.

ISBN: 156324232X , 1563242338

Series Statement: Columbia University seminar series

In: 2

Language: English

Subjects: Economics

UID:

Format: XVI, 251 S.

ISBN: 1563242303 , 1563242311

Series Statement: Columbia University seminar series

In: 1

Language: English

Subjects: Economics

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Format: 1 online resource (392 p) , cm

ISBN: 9781783472642

Series Statement: Edward Elgar E-Book Archive

Content: 'Jane D'Arista is one of those towering figures who thinks way ahead of the conventional understandings. A generation ago she recognized the distorted architecture of finance and banking and described in lucid detail the reform agenda for restoring a stable and equitable system. Written in the tradition of D'Arista, the essays in this important collection point the way toward overcoming the recurrent financial disorders of our gilded age. Like Jane D'Arista's work, this timely volume demands the attention of both policy experts and the politicians who must do the reconstruction.'--William Greider, author of Secrets of the Temple: How the Federal Reserve Runs the Country. The many forces that led to the economic crisis of 2008 were in fact identified, analyzed and warned against for many years before the crisis by economist Jane D'Arista, among others. Now, writing in the tradition of D'Arista's extensive work, the internationally renowned contributors to this thought-provoking book discuss research carried out on various indicators of the crisis and illustrate how these perspectives can contribute to productive thinking on monetary and financial policies. Topics addressed include monetary policy, financial markets, financial history, liquidity, institutions and global finance, with an emphasis on the ways in which theory and policy can be applied toward the goal of a more equitable and civilized society. The book's contributors hail from across the globe and offer a range of both academic and policy-making perspectives. This fascinating book will appeal to students and scholars of economics, particularly those with an interest in international finance and banking, financial regulation, and political economy

Content: part I. Appreciation and introduction -- part II. Federal Reserve policy -- part III. Financial history and institutions -- part IV. Global finance -- part V. Theoretical considerations

Additional Edition: Available in another form ISBN 9781848443679(hardback)

Additional Edition: ISBN 9781848443679

Language: English

DOI: 10.4337/9781783472642

URL: FULL  ((Currently Only Available on Campus))