EXECUTIVE SUMMARY 1. The importance of enhancing systemic risk oversight and building effective macroprudential tools is widely recognized. In the United States, where the financial markets display a greater degree of heterogeneity than elsewhere, and supervision and regulation are split amongst...

EXECUTIVE SUMMARY1 1. A range of stress tests was used to quantify the potential impacts of risks and vulnerabilities in bank and nonbank sectors. The stress testing exercise reflected a broader evaluation of potential risks, embodied in the Risk Assessment Matrix (Appendix I). To provide a more...

This paper seeks to review events leading up to the financial crisis of 2008, including the massive government intervention into the U.S. financial markets, and then asks some questions and makes some recommendations about changes in specific areas of business practice and public policy as they...

The European Community in the international trading system. The future of the international trading system / Brian Hindley -- Commentaries on part one / Herbert Giersch, Jules L. Katz, and Norbert Walter -- Implications for Japan and the NICs. External trade implications of Europe 1992 for Japan...

"Since the 1960s, scholars and other commentators have frequently announced the imminent decline of American financial power : excessive speculation and debt are believed to have undermined the long-term basis of a stable U.S.-led financial order. But the American financial system has repeatedly...