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Disruptions in global financial markets: the role of public policy

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  • Michael H. Moskow

Abstract

How should public policy evolve in light of the recent series of financial crises worldwide? In this article, the author argues that market discipline must play an essential role in any future policy reforms.

Suggested Citation

  • Michael H. Moskow, 2000. "Disruptions in global financial markets: the role of public policy," Economic Perspectives, Federal Reserve Bank of Chicago, vol. 25(Q III), pages 2-8.
    • Handle: RePEc:fip:fedhep:y:2000:i:qiii:p:2-8:n:v.25no.3
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    References listed on IDEAS

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    1. repec:aei:rpbook:53074 is not listed on IDEAS
    2. Douglas D. Evanoff & Larry D. Wall, 2000. "Subordinated debt and bank capital reform," Working Paper Series WP-00-7, Federal Reserve Bank of Chicago.
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    5. Shadow Financial Regulatory Committee, 2000. "Reforming Bank Capital Regulation: A Proposal by the U.S. Shadow Financial Regulatory Committee," Books, American Enterprise Institute, number 920273, September.
    6. John H. Boyd & Arthur J. Rolnick, 1988. "A case for reforming federal deposit insurance," Annual Report, Federal Reserve Bank of Minneapolis.
    7. George G. Kaufman, 1999. "Banking and currency crises and systemic risk: a taxonomy and review," Working Paper Series WP-99-12, Federal Reserve Bank of Chicago.
    8. Jack L. Hervey & Michael A. Kouparitsas, 2000. "Should we be concerned about the current account?," Chicago Fed Letter, Federal Reserve Bank of Chicago, issue Apr.
    9. David A. Marshall, 1998. "Understanding the Asian crisis: systemic risk as coordination failure," Economic Perspectives, Federal Reserve Bank of Chicago, vol. 22(Q III), pages 13-38.
    10. Douglas D. Evanoff & Larry D. Wall, 2000. "Subordinated debt as bank capital: a proposal for regulatory reform," Economic Perspectives, Federal Reserve Bank of Chicago, vol. 25(Q II), pages 40-53.
    11. Kevin C. Murdock & Thomas F. Hellmann & Joseph E. Stiglitz, 2000. "Liberalization, Moral Hazard in Banking, and Prudential Regulation: Are Capital Requirements Enough?," American Economic Review, American Economic Association, vol. 90(1), pages 147-165, March.
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