Durable Financial Regulation: Monitoring Financial Instruments as a Counterpart to Regulating Financial Institutions
AbstractThis paper sets forth a discussion framework for the information requirements of systemic financial regulation. It specifically describes a potentially large macro-micro database for the U.S. based on an extended version of the Flow of Funds. I argue that such a database would have been of material value to U.S. regulators in ameliorating the recent financial crisis and could be of aid in understanding the potential vulnerabilities of an innovative financial system in the future. I also suggest that making these data available to the academic research community, under strict confidentiality restrictions, would enhance the detection and measurement of systemic risk.
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Bibliographic InfoPaper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 17006.
Date of creation: May 2011
Date of revision:
Publication status: published as Leonard Nakamura. "Durable Financial Regulation: Monitoring Financial Instruments as a Counterpart to Regulating Financial Institutions," in Charles Hulten and Marshall Reinsdorf, editors, "Measuring Wealth and Financial Intermediation and Their Links to the Real Economy" (2013)
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Find related papers by JEL classification:
- G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation
This paper has been announced in the following NEP Reports:
- NEP-ALL-2011-05-14 (All new papers)
- NEP-BAN-2011-05-14 (Banking)
- NEP-REG-2011-05-14 (Regulation)
- NEP-RMG-2011-05-14 (Risk Management)
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- repec:fip:fedhpr:y:2008:i:may:p:171-192 is not listed on IDEAS
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