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New theories to underpin financial reform

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  • Allen, Franklin
  • Carletti, Elena

Abstract

Before 2007, financial crises were not widely studied in economics and finance. The lack of importance ascribed to financial stability and our limited knowledge of this topic were significant contributors to the crisis. This paper suggests five areas where new theories are needed. These are asset price bubbles, central bank checks and balances, global imbalances, banking regulation, and competition in financial services.

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Bibliographic Info

Article provided by Elsevier in its journal Journal of Financial Stability.

Volume (Year): 9 (2013)
Issue (Month): 2 ()
Pages: 242-249

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Handle: RePEc:eee:finsta:v:9:y:2013:i:2:p:242-249

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Web page: http://www.elsevier.com/locate/jfstabil

Related research

Keywords: Asset price bubbles; Global imbalances; Competition;

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References

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  12. Allen, Franklin & Carletti, Elena, 2006. "Mark-to-market accounting and liquidity pricing," CFS Working Paper Series 2006/17, Center for Financial Studies (CFS).
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Cited by:
  1. Minoiu, Camelia & Reyes, Javier A., 2013. "A network analysis of global banking: 1978–2010," Journal of Financial Stability, Elsevier, vol. 9(2), pages 168-184.

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