Durable Financial Regulation: Monitoring Financial Instruments as a Counterpart to Regulating Financial Institutions
This 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.
|Date of creation:||May 2011|
|Publication status:||published as Durable Financial Regulation: Monitoring Financial Instruments as a Counterpart to Regulating Financial Institutions , Leonard Nakamura. in Measuring Wealth and Financial Intermediation and Their Links to the Real Economy , Hulten and Reinsdorf. 2015|
|Contact details of provider:|| Postal: National Bureau of Economic Research, 1050 Massachusetts Avenue Cambridge, MA 02138, U.S.A.|
Web page: http://www.nber.org
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Joshua Coval & Jakub Jurek & Erik Stafford, 2009. "The Economics of Structured Finance," Journal of Economic Perspectives, American Economic Association, vol. 23(1), pages 3-25, Winter.
- Yuliya Demyanyk & Otto Van Hemert, 2011.
"Understanding the Subprime Mortgage Crisis,"
Review of Financial Studies,
Society for Financial Studies, vol. 24(6), pages 1848-1880.
- Daniel M. Covitz & J. Nellie Liang & Gustavo A. Suarez, 2009. "The evolution of a financial crisis: panic in the asset-backed commercial paper market," Finance and Economics Discussion Series 2009-36, Board of Governors of the Federal Reserve System (U.S.).
- Jan K. Brueckner & Paul S. Calem & Leonard I. Nakamura, 2011.
"Subprime mortgages and the housing bubble,"
11-12, Federal Reserve Bank of Philadelphia.
- Nakamura, L.I. & Roszbach, K., 2010.
"Credit Ratings and Bank Monitoring Ability,"
2010-37S, Tilburg University, Center for Economic Research.
- Leonard I. Nakamura & Kasper Roszbach, 2010. "Credit ratings and bank monitoring ability," Working Papers 10-21, Federal Reserve Bank of Philadelphia.
- Leonard I. Nakamura & Kasper Roszbach, 2013. "Credit ratings and bank monitoring ability," Working Papers 13-21, Federal Reserve Bank of Philadelphia.
- Kenneth French & Martin Baily & John Campbell & John Cochrane & Douglas Diamond & Darrell Duffie & Anil Kashyap & Frederic Mishkin & Raghuram Rajan & David Scharfstein & Robert Shiller & Hyun Song Shi, 2010.
"The Squam Lake Report: Fixing the Financial System,"
Journal of Applied Corporate Finance,
Morgan Stanley, vol. 22(3), pages 8-21.
- Kenneth R. French & Martin N. Baily & John Y. Campbell & John H. Cochrane & Douglas W. Diamond & Darrell Duffie & Anil K Kashyap & Frederic S. Mishkin & Raghuram G. Rajan & David S. Scharfstein & Robe, 2010. "The Squam Lake Report: Fixing the Financial System," Economics Books, Princeton University Press, edition 1, number 9261.
- Jacobson, Tor & Lindé, Jesper & Roszbach, Kasper, 2003.
"Internal Ratings Systems, Implied Credit Risk and the Consistency of Banks’ Risk Classification Policies,"
Working Paper Series
155, Sveriges Riksbank (Central Bank of Sweden).
- Jacobson, Tor & Linde, Jesper & Roszbach, Kasper, 2006. "Internal ratings systems, implied credit risk and the consistency of banks' risk classification policies," Journal of Banking & Finance, Elsevier, vol. 30(7), pages 1899-1926, July.
- Keys, Benjamin J. & Mukherjee, Tanmoy & Seru, Amit & Vig, Vikrant, 2009. "Financial regulation and securitization: Evidence from subprime loans," Journal of Monetary Economics, Elsevier, vol. 56(5), pages 700-720, July.
- Joshua Gallin, 2008. "The Long-Run Relationship Between House Prices and Rents," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 36(4), pages 635-658, December.
- Bridget Cronin & Leonard I. Nakamura & Richard Voith, 2008.
"Rents have been rising, not falling, in the postwar period,"
08-28, Federal Reserve Bank of Philadelphia.
- Theodore M. Crone & Leonard I. Nakamura & Richard Voith, 2010. "Rents Have Been Rising, Not Falling, in the Postwar Period," The Review of Economics and Statistics, MIT Press, vol. 92(3), pages 628-642, August.
- Cho, Man & Megbolugbe, Isaac F, 1996. "An Empirical Analysis of Property Appraisal and Mortgage Redlining," The Journal of Real Estate Finance and Economics, Springer, vol. 13(1), pages 45-55, July.
- Daniel Covitz & Nellie Liang & Gustavo A. Suarez, 2013. "The Evolution of a Financial Crisis: Collapse of the Asset-Backed Commercial Paper Market," Journal of Finance, American Finance Association, vol. 68(3), pages 815-848, 06.
When requesting a correction, please mention this item's handle: RePEc:nbr:nberwo:17006. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ()
If references are entirely missing, you can add them using this form.