Description

The achievement of financial stability is one of the most pressing issues today. This timely and innovative book provides an analytical framework to assess financial (in)stability as an equilibrium phenomenon compatible with the orderly functioning of a modern market economy.

The authors expertly show how good regulatory policy can be implemented and that its effects on the real as well as the nominal side of the economy can be properly analyzed. The core of their approach is to take realistic account of the interaction between endogenous default, agent heterogeneity and money and liquidity, and suggest how a quantifiable metric of financial fragility could be developed.

This insightful 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.

The Challenge of Financial Stability: A New Model and its Applications

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£125.00

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Hardback by Charles A.E. Goodhart , Dimitrios P. Tsomocos

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The achievement of financial stability is one of the most pressing issues today. This timely and innovative book provides an... Read more

    Publisher: Edward Elgar Publishing Ltd
    Publication Date: 30/04/2012
    ISBN13: 9781847208941, 978-1847208941
    ISBN10: 1847208940

    Number of Pages: 368

    Non Fiction , Law , Education

    Description

    The achievement of financial stability is one of the most pressing issues today. This timely and innovative book provides an analytical framework to assess financial (in)stability as an equilibrium phenomenon compatible with the orderly functioning of a modern market economy.

    The authors expertly show how good regulatory policy can be implemented and that its effects on the real as well as the nominal side of the economy can be properly analyzed. The core of their approach is to take realistic account of the interaction between endogenous default, agent heterogeneity and money and liquidity, and suggest how a quantifiable metric of financial fragility could be developed.

    This insightful 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.

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