In the 1990s, large insurance companies failed in virtually every major market, prompting a fierce and ongoing debate about how to better protect policyholders. Drawing lessons from the failures of four insurance companies, When Insurers Go Bust dramatically advances this debate by arguing that the current approach to insurance regulation should be replaced with mechanisms that replicate the governance of non-financial firms.
Rather than immediately addressing the minutiae of supervision, Guillaume Plantin and Jean-Charles Rochet first identify a fundamental economic...
In the 1990s, large insurance companies failed in virtually every major market, prompting a fierce and ongoing debate about how to better protect p...
Mathias Dewatripont Jean-Charles Rochet Jean Tirole
The financial crisis that began in 2007 in the United States swept the world, producing substantial bank failures and forcing unprecedented state aid for the crippled global financial system. Bringing together three leading financial economists to provide an international perspective, Balancing the Banks draws critical lessons from the causes of the crisis and proposes important regulatory reforms, including sound guidelines for the ways in which distressed banks might be dealt with in the future.
While some recent policy moves go in the right direction, others, the book...
The financial crisis that began in 2007 in the United States swept the world, producing substantial bank failures and forcing unprecedented state a...
The subprime crisis has shown that the sophisticated risk management models used by banks and insurance companies had serious flaws. Some people even suggest that these models are completely useless. Others claim that the crisis was just an unpredictable accident that was largely amplified by the lack of expertise and even naivety of many investors. This book takes the middle view. It shows that these models have been designed for "tranquil times," when financial markets behave smoothly and efficiently. However, we are living in more and more "turbulent times": large risks materialize much...
The subprime crisis has shown that the sophisticated risk management models used by banks and insurance companies had serious flaws. Some people even ...
Mathias Dewatripont Jean-Charles Rochet Jean Tirole
The financial crisis that began in 2007 in the United States swept the world, producing substantial bank failures and forcing unprecedented state aid for the crippled global financial system. Bringing together three leading financial economists to provide an international perspective, Balancing the Banks draws critical lessons from the causes of the crisis and proposes important regulatory reforms, including sound guidelines for the ways in which distressed banks might be dealt with in the future.
While some recent policy moves go in the right direction, others, the book...
The financial crisis that began in 2007 in the United States swept the world, producing substantial bank failures and forcing unprecedented state a...
