Mondadori Store

Trova Mondadori Store

Benvenuto
Accedi o registrati

lista preferiti

Per utilizzare la funzione prodotti desiderati devi accedere o registrarti

Vai al carrello
 prodotti nel carrello

Totale  articoli

0,00 € IVA Inclusa

Engineering the Financial Crisis

Jeffrey Friedman - Wladimir Kraus
pubblicato da University of Pennsylvania Press, Inc.

Prezzo online:
37,01
41,05
-10 %
41,05

The financial crisis has been blamed on reckless bankers, irrational exuberance, government support of mortgages for the poor, financial deregulation, and expansionary monetary policy. Specialists in banking, however, tell a story with less emotional resonance but a better correspondence to the evidence: the crisis was sparked by the international regulatory accords on bank capital levels, the Basel Accords.

In one of the first studies critically to examine the Basel Accords, Engineering the Financial Crisis reveals the crucial role that bank capital requirements and other government regulations played in the recent financial crisis. Jeffrey Friedman and Wladimir Kraus argue that by encouraging banks to invest in highly rated mortgage-backed bonds, the Basel Accords created an overconcentration of risk in the banking industry. In addition, accounting regulations required banks to reduce lending if the temporary market value of these bonds declined, as they did in 2007 and 2008 during the panic over subprime mortgage defaults.

The book begins by assessing leading theories about the crisisderegulation, bank compensation practices, excessive leverage, "too big to fail," and Fannie Mae and Freddie Macand, through careful evidentiary scrutiny, debunks much of the conventional wisdom about what went wrong. It then discusses the Basel Accords and how they contributed to systemic risk. Finally, it presents an analysis of social-science expertise and the fallibility of economists and regulators. Engagingly written, theoretically inventive, yet empirically grounded, Engineering the Financial Crisis is a timely examination of the unintendedand sometimes disastrouseffects of regulation on complex economies.

Dettagli

Generi Economia Diritto e Lavoro » Economia » Economia politica » Management » Impresa: proprietà e organizzazione » Diritto

Editore University Of Pennsylvania Press, Inc.

Formato Ebook con Adobe DRM

Pubblicato 01/09/2011

Lingua Inglese

EAN-13 9780812205077

0 recensioni dei lettori  media voto 0  su  5

Scrivi una recensione per "Engineering the Financial Crisis"

Engineering the Financial Crisis
 

Accedi o Registrati  per aggiungere una recensione

usa questo box per dare una valutazione all'articolo: leggi le linee guida
torna su Torna in cima