Fair value accounting is the wrong scapegoat for this crisis
AbstractThe ongoing financial crisis has revived the longstanding debate about fair value accounting. This policy contribution by Nicolas VÃ©ron argues that in times of market disruption, no accounting standards could lead to consensual outcomes, and that fair value remains better than proposed alternatives. Rather than reducing its scope, policymakers should focus on capital requirements standards (Basel II), where the negative effects of Â?pro-cyclicalityâ?? are concentrated.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by Bruegel in its series Policy Contributions with number 19.
Date of creation: May 2008
Date of revision:
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- Nicolas Veron, 2011. "Keeping the Promise of Global Accounting Standards," Policy Briefs PB11-11, Peterson Institute for International Economics.
- Carmen Giorgiana Bonaci & Dumitru Matis, 2009. "An Accounting Perspective On A Crisis Perpetuated Thorugh The Capital Market," Romanian Economic Business Review, Romanian-American University, vol. 4(3), pages 61-80, September.
- Andrew Ellul & Chotibhak Jotikasthira & Christian T. Lundblad & Yihui Wang, 2012. "Is Historical Cost Accounting a Panacea? Market Stress, Incentive Distortions, and Gains Trading," FMG Discussion Papers dp701, Financial Markets Group.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Bruegel).
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.