Issues in Finance: Credit, Crises and Policies

ISBN-13: 9781444334012 / Angielski / Miękka / 2011 / 224 str.

Stuart Sayer

Opis

Issues in Finance: Credit, Crises and Policies presents a collection of surveys on key issues surrounding the relationship between credit, finance, and the macro-economy that are linked to the recent global financial crisis.

• Presents a timely collection of surveys that shed light on the recent financial crisis
• Offers insights for economists in government, business, and finance
• Shows how the mainstream economics literature was not blind to the potential problems of the financial framework and its interplay with the macro-economy

Recenzje

"The range of topics in this well–researched and well–written book include optimizing value–at–risk and daily capital charges, managing value at risk under the Basel II Accord, sovereign insolvency procedures, collective action clauses in international sovereign bond contracts, a review of empirical studies on collateral and credit rationing, and capital requirements, business cycle fluctuations, and the Basel Accords." (Booknews, 1 April 2011)

 

Spis treści

Contributors.

Issues in Finance: Credit, Crises and Policies An Overview (Stuart Sayer).

1 Bank Capital Requirements, Business Cycle Fluctuations and the Basel Accords: A Synthesis (Ines Drumond).

2 The Ten Commandments for Optimizing Value–at–Risk and Daily Capital Charges (Michael McAleer).

3 The Ten Commandments for Managing Value at Risk Under the Basel II Accord (Juan–Ángel Jiménez–Martín, Michael McAleer and Teodosio Peréz–Amaral).

4 Sovereign Insolvency Procedures A Comparative Look at Selected Proposals (Kathrin Berensmann and Angélique Herzberg).

5 Collective Action Clauses in International Sovereign Bond Contracts Whence the Opposition? (Sonke Haseler).

6 Collateral and Credit Rationing: A Review of Recent Empirical Studies as a Guide for Future Research (Tensie Steijvers and Wim Voordeckers).

7 The Stock Market, Housing and Consumer Spending: A Survey of the Evidence on Wealth Effects (Monica Paiella).

8 Price–Level Targeting and Stabilisation Policy: A Survey (Steve Ambler).

Index.

O autorze

Stuart Sayer is Professor of Economics Education, University of Edinburgh, Executive Director of the Scottish Institute for Research in Economics (SIRE), and Editor of the Journal of Economic Surveys. His research is in macroeconomic and monetary theory and policy, political economy, economic policy–making, and climate change economics.

Blurb

Recent years for economics and economists have been interesting times. Macroeconomics, and its interplay with finance and credit, had actually come to be seen as boring in some quarters following so many years of relative stability. Today, of course, macroeconomics is no longer perceived as antiquated and dull. Yet through the years leading up to the recent financial crisis, the ′cognoscenti′ had never grown complacent. Many economists continued to toil away at key issues surrounding the relationship between credit, finance, and the macro–economy. The surveys collected in this book reflect many important aspects of these efforts. Topics covered include the Basel accords, sovereign insolvency procedures, collateral and credit, links between stock and house prices and consumer spending, and price–level targeting. This thought–provoking collection also reveals how much of mainstream economics literature was, in fact, well aware of the potential problems of the financial framework that would soon result in a global economic meltdown. Timely and relevant, Issues in Finance sheds important new light on the recent financial crisis and offers keen insights for reflection and future policy considerations.