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Banking Union as a Shock Absorber: Lessons for the eurozone from the US. CEPS Paperback, December 2015

Gros, Daniel. and Belke, Ansgar (2015) Banking Union as a Shock Absorber: Lessons for the eurozone from the US. CEPS Paperback, December 2015. Series > Centre for European Policy Studies (Brussels) > CEPS Paperbacks . UNSPECIFIED. ISBN 978-1-78348-594-9; 978-1-78348-595-6

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    Abstract

    This book illustrates how the structure of the US banking market and the existence of federal institutions allowed regional financial shocks to be absorbed at the federal level in the US, thus avoiding local financial crisis. The authors argue that the experience of the US shows the importance of a ‘banking union’ to avoid severe regional (national) financial dislocation in the wake of regional boom and bust cycles. They also discuss the extent to which the institutions of the partial banking union, now in the process of being created for the euro area, should be able to increase its capacity to deal with future regional boom and bust cycles, thereby stabilising the single currency.

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    Item Type: Book
    Uncontrolled Keywords:
    Subjects for non-EU documents: EU policies and themes > External relations > EU-US
    EU policies and themes > Policies & related activities > economic and financial affairs > banks/financial markets
    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: 17 Dec 2015 13:16
    Number of Pages: 92
    Last Modified: 17 Dec 2015 13:55
    URI: http://aei.pitt.edu/id/eprint/70406

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