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phenomena as the dominance of state-owned banks, the growth of nonbank lending (the so-called shadow banks), and the need to … phenomena as the dominance of state-owned banks, the growth of nonbank lending (the so-called shadow banks), and the need to …
Persistent link: https://www.econbiz.de/10013542362
Central Bank setting policy, or (iii) floating exchange rates with each central bank in Asia independently choosing optimal …
Persistent link: https://www.econbiz.de/10011281476
This paper identifies two types of market failures. The first concerns a coordination problem associated with panics. The problem in analysing this type of market failure from a policy perspective is that there is no widely accepted method for selecting equilibria. The second market failure...
Persistent link: https://www.econbiz.de/10009305066
I explain the key failure mechanics of large dealer banks, and some policy implications. This is not a review of the …
Persistent link: https://www.econbiz.de/10005870961