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Lessons from the financial crisis: new rules for central banks and credit rating agencies?

de Grauwe, Paul and Mayer, Thomas and Lannoo, Karel (2008) Lessons from the financial crisis: new rules for central banks and credit rating agencies? Intereconomics, 43 (5). pp. 256-266. ISSN 0020-5346

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Identification Number: 10.1007/s10272-008-0259-6

Abstract

The US mortgage crisis, which has spiralled into what is now seen as the most serious global financial upheaval since the 1930s, has provoked criticism of the Federal Reserve for its failure to recognise, and act on, the real estate bubble. Credit rating agencies, too, have come under heavy fire for having actively contributed to the present crisis. Should central banks pay special attention to, and try to influence, the development of asset prices? Is statutory regulation of rating agencies required? If so, what form should it take? Is the European Commission’s recently issued draft up to its purpose?

Item Type: Article
Official URL: http://www.springer.com/economics/policy/journal/1...
Additional Information: © 2008 Springer
Subjects: H Social Sciences > HG Finance
Sets: Departments > European Institute
Collections > Economists Online
Date Deposited: 05 Oct 2012 13:44
Last Modified: 05 Oct 2012 13:44
URI: http://eprints.lse.ac.uk/id/eprint/46600

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