Øystein Olsen: Ensuring financial stability in turbulent times
نویسنده
چکیده
Economic policy was used actively in most countries to curb the economic downturn. Substantial resources were deployed in the form of stimulus packages and measures to prevent financial market collapse. Nonetheless, unemployment in the OECD area rose by 15 million in the first year after the outbreak of the crisis. The downturn also led to a sharp fall in tax revenues. Budget deficits ballooned and government debt rose rapidly.
منابع مشابه
Behavioral Perspectives on Central Bank Communication for Financial Stability
Analyzing central bank communication during financial crises, we draw on a surprisingly informative parallel between management of natural disasters such as earthquakes on one hand, and the corresponding communication infrastructure and social interaction during financial turmoil, on the other. The role of social and emotional behavior thereof points to the importance of interpersonal comm...
متن کاملLiquidity Coverage Ratio, Ownership, Stability: Evidence from Iran
The Basel Committee on Banking Supervision (BCBS), in response to the recent financial crisis, has developed new stability rules aimed at preventing financial crises in the future. This paper uses the new Liquidity Ratio (LCR) and attempts to determine the impact of this ratio on the stability of the banking system. The objective of the LCR is to promote the short-term resilience of the liquidi...
متن کاملThe Cross-guarantee Concept: Eliminating Risk in Interbank Markets
One of the great public policy concerns in the financial services arena is ensuring the stability of the U.S. financial system. One of the great threats to financial stability is disruption in the interbank market; that is, transactions between banks. These transactions consist of the exchange of payments by check or electronic means, usually through payment clearing mechanisms; the settlement ...
متن کاملFractal Markets Hypothesis and the Global Financial Crisis: Wavelet Power Evidence
We analyze whether the prediction of the fractal markets hypothesis about a dominance of specific investment horizons during turbulent times holds. To do so, we utilize the continuous wavelet transform analysis and obtained wavelet power spectra which give the crucial information about the variance distribution across scales and its evolution in time. We show that the most turbulent times of th...
متن کامل