Solving the present crisis and managing the leverage cycle
Yale University professor John Geanakoplos discusses implications of “the leverage cycle”—a phenomenon in which leverage is excessive prior to a financial crisis and unacceptably low during the crisis—for regulatory policy and reform. Presented as the keynote address at "Central Bank Liquidity Tools and Perspectives on Regulatory Reform" a conference sponsored by the Federal Reserve Bank of New York, February 19-20, 2009.
Volume (Year): (2010)
Issue (Month): Aug ()
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