The Resource Change and constancy in the financial system : implications for financial distress and policy, by Claudio E. V. Borio, (electronic resource)

Change and constancy in the financial system : implications for financial distress and policy, by Claudio E. V. Borio, (electronic resource)

Label
Change and constancy in the financial system : implications for financial distress and policy
Title
Change and constancy in the financial system
Title remainder
implications for financial distress and policy
Statement of responsibility
by Claudio E. V. Borio
Creator
Contributor
Subject
Language
eng
Summary
Over the past three decades, the financial system has been going through a historical phase of major structural change. This paper traces the implications of this financial revolution for the dynamics of financial distress and for policy. It argues that, despite this revolution, some fundamental characteristics of the financial system have not changed and that these hold the key to the dynamics of financial instability. These characteristics relate to imperfect information in financial contracts, to risk perceptions and incentives, and to powerful feedback mechanisms operating both within the financial system and between that system and the macro-economy. As a result, the primary cause of financial instability has always been, and will continue to be, overextension in risk-taking and balance-sheets. The challenge is to design a policy response that is firmly anchored to the more enduring features of financial instability while at the same time tailoring it to the evolving financial system. Using an analogy with road safety, policy has so far largely focused quite effectively on improving the state of the roads and on introducing buffers. More attention, however, could usefully be devoted to the design and implementation of speed limit
Member of
Cataloging source
IT-FiEUI
http://library.link/vocab/creatorName
Borio, C. E. V
Dewey number
338.542
Illustrations
illustrations
Index
no index present
Literary form
non fiction
Nature of contents
  • dictionaries
  • bibliography
http://library.link/vocab/relatedWorkOrContributorName
Bank for International Settlements
Series statement
BIS working papers
Series volume
237
http://library.link/vocab/subjectName
  • Banks and banking, International
  • Financial risk
Label
Change and constancy in the financial system : implications for financial distress and policy, by Claudio E. V. Borio, (electronic resource)
Link
http://www.bis.org/publ/work237.pdf
Instantiates
Publication
Note
  • "October 2007."
  • "Monetary and Economic Department."
Bibliography note
Includes bibliographical references (pages 18-21)
Carrier category
online resource
Carrier category code
  • cr
Carrier MARC source
rdacarrier.
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent.
Control code
FIEb15404158b
Dimensions
30 cm.
Extent
  • vii, 21 pages
  • 1 online resource.
Media category
computer
Media MARC source
rdamedia.
Media type code
  • c
Other physical details
illustrations
Specific material designation
remote
System control number
(OCoLC)891543395
Label
Change and constancy in the financial system : implications for financial distress and policy, by Claudio E. V. Borio, (electronic resource)
Link
http://www.bis.org/publ/work237.pdf
Publication
Note
  • "October 2007."
  • "Monetary and Economic Department."
Bibliography note
Includes bibliographical references (pages 18-21)
Carrier category
online resource
Carrier category code
  • cr
Carrier MARC source
rdacarrier.
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent.
Control code
FIEb15404158b
Dimensions
30 cm.
Extent
  • vii, 21 pages
  • 1 online resource.
Media category
computer
Media MARC source
rdamedia.
Media type code
  • c
Other physical details
illustrations
Specific material designation
remote
System control number
(OCoLC)891543395

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