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Keep it simple: Policy Responses to the Financial Crisis. CEPS Paperbacks. March 2009

Micossi, Stefano and Di Noia, Carmine and Carmassi, Jacopo and Pierce, Fabrizia (2009) Keep it simple: Policy Responses to the Financial Crisis. CEPS Paperbacks. March 2009. Series > Centre for European Policy Studies (Brussels) > CEPS Paperbacks . Centre for European Policy Studies. ISBN 9789290798637

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    Abstract

    With the aim of restoring a strong global framework for economic governance, this study proposes new rules of the game – imposed through the Group of 20 and the IMF – for the macroeconomic and exchange rate policies of the main players, including the United States. It also advocates stricter prudential rules for banks, centred around the introduction of a simple leverage ratio calculated with reference to total assets, with no exemptions or risk mitigation. The authors warn against the risk of a massive wave of new regulation, which is not needed and might cripple capital markets for years, and call instead for a simplification and a better enforcement of rules.

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    Item Type: Book
    Uncontrolled Keywords: Financial Markets.
    Subjects for non-EU documents: EU policies and themes > External relations > international economy
    EU policies and themes > Policies & related activities > economic and financial affairs > Single Market > capital, goods, services, workers
    EU policies and themes > Policies & related activities > economic and financial affairs > financial crisis 2008-on/reforms/economic governance
    Subjects for EU documents: UNSPECIFIED
    EU Series and Periodicals: UNSPECIFIED
    EU Annual Reports: UNSPECIFIED
    Series: Series > Centre for European Policy Studies (Brussels) > CEPS Paperbacks
    Depositing User: Phil Wilkin
    Official EU Document: No
    Language: English
    Date Deposited: 20 Oct 2011 20:53
    Number of Pages: 96
    Last Modified: 03 Jan 2012 08:53
    URI: http://aei.pitt.edu/id/eprint/32617

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