Keep it Simple: Policy Responses to the Financial Crisis

Keep it Simple: Policy Responses to the Financial Crisis

By: Stefano Micossi (author), Carmine Di Noia (author), Jacapo Carmassi (contributor), Fabrizia Peirce (contributor)Paperback

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How can the world avoid repetition of the catastrophic financial instability currently plaguing the global economy? With the aim of restoring a strong framework for economic governance, this study proposes new rules of the game - imposed through the Group of 20 and the IMF - for the macroeconomic and exchange rate policies of the main players, including the United States. The authors advocate stricter prudential rules for banks, centered around the introduction of a simple leverage ratio calculated with reference to total assets, with no exemptions or risk mitigation. The book warns against the risk of a massive wave of new regulation that is not needed and might cripple capital markets for years, calling instead for a simplification and a better enforcement of rules. In short, the message, as reflected in the title, is: 'Keep it simple'.

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About Author

Carmine Di Noia is deputy director general of Assonime and a member of the European Securities Markets Expert Group (ESME) at the European Commission. Stefano Micossi is director general of Assonime, a professor at the College of Europe, and a member of the CEPS board of directors. Jacopo Carmassi is a researcher at Assonime and a fellow of the Wharton Financial Institutions Center. Fabrizia Peirce is an economist in Assonime's economic unit.

Product Details

  • publication date: 14/07/2009
  • ISBN13: 9789290798637
  • Format: Paperback
  • Number Of Pages: 96
  • ID: 9789290798637
  • weight: 227
  • ISBN10: 9290798637

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  • Saver Delivery: Yes
  • 1st Class Delivery: Yes
  • Courier Delivery: Yes
  • Store Delivery: Yes

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