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The Macroeconomics of the Credit Crisis: In Search of Externalities for Macro Prudential Supervision

In: Institutions and Regulation for Economic Growth?

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  • Frank A.G. den Butter

Abstract

Realizing institutions and regulations that foster economic growth is an essential asset for contemporary economies. This book investigates practices and options for steering individual and firm behaviour that prevents unacceptable externalities and boosts public interests. These multi-dimensional interactions are investigated in three areas; innovativeness, especially in terms of IP rights; food safety requirements and the impact on EU-competitiveness; and economic stability, particularly within the banking industry. The book provides complementary views and offers clear and relevant conclusions.

Suggested Citation

  • Frank A.G. den Butter, 2011. "The Macroeconomics of the Credit Crisis: In Search of Externalities for Macro Prudential Supervision," Chapters, in: Emiel F.M. Wubben (ed.), Institutions and Regulation for Economic Growth?, chapter 10, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:14256_10
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    References listed on IDEAS

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    1. den Haan, Wouter J. & Ramey, Garey & Watson, Joel, 2003. "Liquidity flows and fragility of business enterprises," Journal of Monetary Economics, Elsevier, vol. 50(6), pages 1215-1241, September.
    2. Gallegati Mauro & Greenwald Bruce & Richiardi Matteo G & Stiglitz Joseph E., 2008. "The Asymmetric Effect of Diffusion Processes: Risk Sharing and Contagion," Global Economy Journal, De Gruyter, vol. 8(3), pages 1-22, September.
    3. Prasanna Gai & Sujit Kapadia & Stephen Millard & Ander Perez, 2008. "Financial Innovation, Macroeconomic Stability and Systemic Crises," Economic Journal, Royal Economic Society, vol. 118(527), pages 401-426, March.
    4. James B. Bullard & Christopher J. Neely & David C. Wheelock, 2009. "Systemic risk and the financial crisis: a primer," Review, Federal Reserve Bank of St. Louis, vol. 91(Sep), pages 403-418.
    5. Diamond, Peter A, 1982. "Aggregate Demand Management in Search Equilibrium," Journal of Political Economy, University of Chicago Press, vol. 90(5), pages 881-894, October.
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    7. Avgouleas, Emilios & Goodhart, Charles & Schoenmaker, Dirk, 2010. "Living Wills as a Catalyst for Action," Working Papers 10-09, University of Pennsylvania, Wharton School, Weiss Center.
    8. Jan Willem van den End, 2010. "Liquidity Stress-Tester: A Model for Stress-testing Banks' Liquidity Risk," CESifo Economic Studies, CESifo, vol. 56(1), pages 38-69, March.
    9. Ingo Fender & Janet Mitchell, 2009. "The future of securitisation: how to align incentives," BIS Quarterly Review, Bank for International Settlements, September.
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    More about this item

    Keywords

    Economics and Finance;

    JEL classification:

    • E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Sytsems; Standards; Regimes; Government and the Monetary System
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • G38 - Financial Economics - - Corporate Finance and Governance - - - Government Policy and Regulation

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