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Financial stability in practice

Goodhart, Charles A. E. and Tsomocos , Dimitrios P. (2012) Financial stability in practice. Edward Elgar, Cheltenham, UK. ISBN 9781847208934

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Abstract

The maintenance of financial stability is a key objective of monetary policy, but the record of regulators in achieving this has been lamentable in recent years. This failure has been matched by an equivalent inability to establish an appropriate theoretical basis for financial regulation. In this book, the authors demonstrate how to enhance the theory, modelling and practice of such regulation. The main determinant of financial instability is the default of financial institutions. The authors highlight the importance of the appropriate incorporation of default into macro-financial models and its interaction with liquidity. Besides covering the historical development and current stance of financial regulation, the book includes a number of policy-oriented chapters revealing how the authors’ modelling approach can improve the process. This authoritative book will serve as a basis for future work on financial stability management for both academics and policy-makers and provide guidance on how to undertake crisis prevention and resolution.

Item Type: Book
Official URL: http://www.e-elgar.co.uk/
Additional Information: © 2012 Edward Elgar Publishing
Library of Congress subject classification: H Social Sciences > HG Finance
Journal of Economic Literature Classification System: E - Macroeconomics and Monetary Economics > E5 - Monetary Policy, Central Banking, and the Supply of Money and Credit
Sets: Collections > Economists Online
Research centres and groups > Financial Markets Group (FMG)
Rights: http://www.lse.ac.uk/library/usingTheLibrary/academicSupport/OA/depositYourResearch.aspx
Date Deposited: 21 Sep 2012 10:52
URL: http://eprints.lse.ac.uk/46292/

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