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Never before has finance been regarded with the suspicion of these past three years. Yet money and credit are part of what enabled human beings to overcome the barbarism of immanence, the savagery of a life ruled by consumption for survival. The critical rethinking of finance involves the very...
Persistent link: https://www.econbiz.de/10008683493
regulation did not take the "big picture" of the system suffciently into account and, subsequently, financial supervision mainly … "missed the forest for the trees". As a result, the need for macroprudential aspects of regulation emerged, which has recently … macroprudential regulation in creating stable, yet effcient financial systems. At the same time, I emphasize the importance of …
Persistent link: https://www.econbiz.de/10011477338
During banking crises, regulators often relax their normal requirements and refrain from closing financially troubled banks. I estimate the real effects of such regulatory forbearance by comparing differences in state-level economic outcomes by the amount of forbearance extended during the U.S....
Persistent link: https://www.econbiz.de/10011729616
This study tests whether cooperation between securities regulators influences global market integration. I measure cooperation using arrangements between securities regulators that enable enhanced cross-border enforcement, better regulatory decisions, and reduced compliance obligations for...
Persistent link: https://www.econbiz.de/10013237707
this paper is to present the results of a novel database of sectoral regulation at a disaggregated level in Spain …. Objective indicators of the volume of new regulation have been constructed for 23 sectors of activity, adopted by each … classified. The indicators show that new sectoral regulation in Spain is increasing over time, but there are significant …
Persistent link: https://www.econbiz.de/10013298805
region, which highlights the growing volume of regulation, as well as its diversity by sector, region and business cycle …
Persistent link: https://www.econbiz.de/10014357588
Commercial real estate accounts for roughly 20% of the U.S. fixed asset stock, and commercial land use is highly regulated. However, little is known about the quantitative impact of these regulations on economic activity or consumer welfare. This paper develops a spatial general equilibrium...
Persistent link: https://www.econbiz.de/10014437026
Legal academics, journalists, and senior executive branch officials alike have assumed that the cost of imposing new regulatory requirements is higher in severe recessions that drive the central bank's policy rate to zero than in other times. This is not correct; the aggregate output costs of...
Persistent link: https://www.econbiz.de/10014634827
A report by the Stockholm Environment Institute estimates that between US$363 billion to US$2.4 trillion have to be invested only to mitigate climate change (Tempest & Lazarus, 2014). This estimation demonstrates that the financial sector plays a central role in influencing sustainable...
Persistent link: https://www.econbiz.de/10013015767
The intention of regulation is to protect the vulnerable. However, unintended results of regulation can cause the …
Persistent link: https://www.econbiz.de/10009401323