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An International Rule System to Avoid Financial Instability

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Author Info
Horst Siebert
Abstract

In a series of summits, leading countries of the world will meet to draw up an in¬ternational arrangement for financial stability. Such a rule system should prevent a financial crisis as we have seen it in 2007 and 2008. It should include appropriate principles of mone¬tary policy, rules for financial soundness and agreements on the role of prudent regulation. The paper discusses the lessons from the subprime crisis, failures of regulation, crisis man¬agement in the US and in the EU and considers the problems that have to be solved by an in¬ternational rule system

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File URL: http://www.ifw-members.ifw-kiel.de/publications/an-international-rule-system-to-avoid-financial-instability/KAP1461.pdf
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Publisher Info
Paper provided by Kiel Institute for the World Economy in its series Kiel Working Papers with number 1461.

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Length: 34 pages
Date of creation: Nov 2008
Date of revision:
Handle: RePEc:kie:kieliw:1461

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Related research
Keywords: climate change; financial crises; the world trading system; oil supplies; immigration;

Find related papers by JEL classification:
E2 - Macroeconomics and Monetary Economics - - Macroeconomics: Consumption, Saving, Production, Employment, and Investment
E3 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles
E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit
F02 - International Economics - - General - - - International Economic Order; Noneconomic International Organizations;; Economic Integration and Globalization: General
F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions
F37 - International Economics - - International Finance - - - International Finance Forecasting and Simulation
F4 - International Economics - - Macroeconomic Aspects of International Trade and Finance
F5 - International Economics - - International Relations and International Political Economy
G2 - Financial Economics - - Financial Institutions and Services
P00 - Economic Systems - - General - - - General

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