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La crisis

Author

Listed:
  • Alan Greenspan

    (Greenspan Associates LLC)

Abstract

This article reviews the causes of the crisis, explores the nature of financial intermediation, presents a set of reforms to overcome the deficiencies of the regulatory structure and examines the role of monetary policy in the current crisis. It concludes that it is essential to increase regulatory capital requirements and liquidity of banks and increase the guarantees of financial products that are traded globally.

Suggested Citation

  • Alan Greenspan, 2010. "La crisis," Revista de Economía Institucional, Universidad Externado de Colombia - Facultad de Economía, vol. 12(22), pages 15-60, January-J.
  • Handle: RePEc:rei:ecoins:v:12:y:2010:i:22:p:15-60
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    File URL: http://www.uexternado.edu.co/facecono/ecoinstitucional/workingpapers/agreenspan22.pdf
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    References listed on IDEAS

    as
    1. Carmen M. Reinhart & Kenneth S. Rogoff, 2014. "This Time is Different: A Panoramic View of Eight Centuries of Financial Crises," Annals of Economics and Finance, Society for AEF, vol. 15(2), pages 1065-1188, November.
    2. Reinhart, Carmen & Rogoff, Kenneth, 2009. "This Time It’s Different: Eight Centuries of Financial Folly-Preface," MPRA Paper 17451, University Library of Munich, Germany.
    3. Brigitte Desroches & Michael Francis, 2010. "World real interest rates: a global savings and investment perspective," Applied Economics, Taylor & Francis Journals, vol. 42(22), pages 2801-2816.
    4. Alan Greenspan, 2000. "Technology and Financial Services," Journal of Financial Services Research, Springer;Western Finance Association, vol. 18(2), pages 109-113, December.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. Fernando Tenjo & Martha López, 2010. "Early Warning Indicators for Latin America," ENSAYOS SOBRE POLÍTICA ECONÓMICA, BANCO DE LA REPÚBLICA - ESPE, vol. 28(63), pages 232-259, December.
    2. Benigno, Pierpaolo & Paciello, Luigi, 2014. "Monetary policy, doubts and asset prices," Journal of Monetary Economics, Elsevier, vol. 64(C), pages 85-98.
    3. repec:wsi:gcrxxx:v:02:y:2012:i:01:n:s2010493612500031 is not listed on IDEAS
    4. Peter J Boettke & Daniel J. Smith & Nicholas A. Snow, 2011. "Been There Done That: The Political Economy of Déjà Vu," Chapters,in: The Global Financial Crisis, chapter 1 Edward Elgar Publishing.
    5. Hughes, Joseph P. & Mester, Loretta J., 2013. "Who said large banks don’t experience scale economies? Evidence from a risk-return-driven cost function," Journal of Financial Intermediation, Elsevier, vol. 22(4), pages 559-585.
    6. Liang, Hsiao-Chen & Jang, Woan-Yuh, 2013. "Information asymmetry and monitoring in equity private placements," The Quarterly Review of Economics and Finance, Elsevier, vol. 53(4), pages 460-475.
    7. David Allen & Robert Faff, 2012. "The Global Financial Crisis: some attributes and responses," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 52(1), pages 1-7, March.
    8. Cathcart, Lara & El-Jahel, Lina & Jabbour, Ravel, 2015. "Can regulators allow banks to set their own capital ratios?," Journal of Banking & Finance, Elsevier, vol. 53(C), pages 112-123.
    9. Beniamino Moro, 2013. "The Run On Repo and the Liquidity Shortage Problems of the Current Global Financial Crisis: Europe vs. The US," Ekonomi-tek - International Economics Journal, Turkish Economic Association, vol. 2(1), pages 41-77, January.
    10. Peter Praet, 2010. "Building a more stable financial system : regulatory reform in a post-crisis perspective," Financial Stability Review, National Bank of Belgium, vol. 8(1), pages 115-126, June.
    11. Agarwal, Sumit & Chang, Yan & Yavas, Abdullah, 2012. "Adverse selection in mortgage securitization," Journal of Financial Economics, Elsevier, vol. 105(3), pages 640-660.
    12. repec:eee:riibaf:v:41:y:2017:i:c:p:387-398 is not listed on IDEAS
    13. Kevin Davis, 2012. "Bank Capital Adequacy: Where to Now?," Chapters,in: Regulatory Failure and the Global Financial Crisis, chapter 4 Edward Elgar Publishing.
    14. Chevallier, Julien, 2012. "Global imbalances, cross-market linkages, and the financial crisis: A multivariate Markov-switching analysis," Economic Modelling, Elsevier, vol. 29(3), pages 943-973.

    More about this item

    Keywords

    economic crisis; financial intermediation;

    JEL classification:

    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy

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