After the Crash: Financial Crises and Regulatory Responses

Published by Columbia University Press 2019

After the Crash

Financial Crises and Regulatory Responses

Edited by: Sharyn O'Halloran and Thomas Groll

https://doi.org/10.7312/ohal19284

Overview
Contents

About this book

Ten Years After the Crash is an innovative analysis of the 2008 financial crisis and its ongoing effects on the global regulatory, financial, and political landscape, with timely discussions of the key issues for our economic future. It brings together a range of expert and practitioner perspectives.

Author / Editor information

O'Halloran Sharyn :

Sharyn O’Halloran is the George Blumenthal Professor of Political Economics and Professor of International and Public Affairs and the Senior Vice Dean and Chief Academic Officer for the School of Professional Studies. She is the author of Politics, Process and American Trade Policy (1994, University of Michigan Press), author of Delegating Powers (1996, Cambridge University Press) and the coauthor of The Future of the Voting Rights Act (2006, Russell Sage Foundation).Sharyn O’Halloran is the George Blumenthal Professor of Political Economy, professor of international and public affairs, and the senior vice dean and chief academic officer for the School of Professional Studies at Columbia University. Her publications include Politics, Process, and American Trade Policy (1994) and The Future of the Voting Rights Act (2006).

Thomas Groll is a lecturer in international and public affairs at Columbia University’s School of International and Public Affairs.

Reviews

Arthur Wilmarth, George Washington University:
Ten Years After the Crash provides a timely, comprehensive, and insightful evaluation of the status of financial reforms ten years after the collapse of Lehman Brothers in September 2008. The authors provide detailed assessments of reforms that have worked and those that have fallen short of their goals, drawing important lessons from the global financial crisis and its aftermath. Their analysis should be of great interest to the general public as well as academics and policymakers.

Topics

Frontmatter Publicly Available Download PDF	i
CONTENTS Publicly Available Download PDF	vii
FOREWORD David Madigan Publicly Available Download PDF	xi
PREFACE Sharyn O’Halloran and Thomas Groll Publicly Available Download PDF	xiii
1. Introduction: Overview of the Financial Crisis and Its Impacts Sharyn O’Halloran, Thomas Groll and Geraldine Mcallister Requires Authentication Unlicensed Licensed Download PDF	1
PART I. THE FINANCIAL CRISIS IN PERSPECTIVE
2. If “It” Happened Again: A Road Map for Regulatory Reform Glenn Hubbard Requires Authentication Unlicensed Licensed Download PDF	47
3. Trends and Delegation in U.S. Financial Market Regulation Thomas Groll, Sharyn O’Halloran and Geraldine Mcallister Requires Authentication Unlicensed Licensed Download PDF	57
4. We Did Not Repeat the Errors of the Past: Lessons Drawn from the Fed’s Policy During the Great Depression Antoine Parent Requires Authentication Unlicensed Licensed Download PDF	82
5. Regulation and Competition in the EU Financial Sector Pierre-Charles Pradier Requires Authentication Unlicensed Licensed Download PDF	98
6. Trends in Financial Market Regulation Nolan Mccarty Requires Authentication Unlicensed Licensed Download PDF	121
PART II. CREATING THE RIGHT (DIS)INCENTIVES
7. Progress and Challenges After the Financial Crisis Jacob J. Lew Requires Authentication Unlicensed Licensed Download PDF	127
8. Banks and Tax Havens: First Evidence Based on Country-by-Country Reporting Vincent Bouvatier, Gunther Capelle-Blancard and Anne-Laure Delatte Requires Authentication Unlicensed Licensed Download PDF	135
9. “Dynamic Precaution” in Maintaining Financial Stability: The Importance of FSOC Jeffrey N. Gordon Requires Authentication Unlicensed Licensed Download PDF	144
PART III. USE AND (AB)USE OF MODELS IN PREDICTING FINANCIAL OUTCOMES
10. Reflections on the Global Financial Crisis Ten Years On Joseph E. Stiglitz Requires Authentication Unlicensed Licensed Download PDF	167
11. The Right Way to Use Models Emanuel Derman Requires Authentication Unlicensed Licensed Download PDF	183
12. The Fundamental Volatility of the Digital Economy as a Contributor to Financial Instability Eli Noam Requires Authentication Unlicensed Licensed Download PDF	200
13. The Impact of Regulation on Systemic Risk Sharyn O’Halloran and Nikolai Nowaczyk Requires Authentication Unlicensed Licensed Download PDF	209
14. Big Data, Process Scalability, and Financial Stability Mark D. Flood Requires Authentication Unlicensed Licensed Download PDF	228
PART IV. REGULATING FOR THE NEXT CRISIS?
15. Rules Versus Principles in Financial Regulation Following the Crisis: It All Depends on the Purpose Paul Tucker Requires Authentication Unlicensed Licensed Download PDF	237
16. How to Regulate in Times of Crisis Stephen M. Cutler Requires Authentication Unlicensed Licensed Download PDF	258
17. The Economic and Political Implications of the Dodd-Frank Act Barney Frank Requires Authentication Unlicensed Licensed Download PDF	261
18. The Regulatory Sine Curve: What Explains the Retreat from Systemic Risk Regulation (and Why It Was Predictable) John C. Coffee Requires Authentication Unlicensed Licensed Download PDF	281
19. Roundtable: It’s Not Too Much or Too Little Regulation; It’s Getting It Right John C. Coffee, Stephen M. Cutler, Barney Frank and Kathryn Judge Requires Authentication Unlicensed Licensed Download PDF	301
PART V. THE ORIGINS OF THE NEXT FINANCIAL CRISIS
20. Interview: Striking the Right Balance between Markets and Regulation William T. Winters and Ailsa Röell Requires Authentication Unlicensed Licensed Download PDF	333
21. Money Market Funds After the Onset of the Crisis Viktoria Baklanova and Joseph Tanega Requires Authentication Unlicensed Licensed Download PDF	341
22. The 2017 Tax Act’s Potential Impact on Bank Safety and Capitalization Mark J. Roe and Michael Tröge Requires Authentication Unlicensed Licensed Download PDF	360
23. Derivative Clearinghouses: Collateral Management and Policy Implications Agostino Capponi Requires Authentication Unlicensed Licensed Download PDF	371
Concluding Remarks Sharyn O’Halloran and Thomas Groll Requires Authentication Unlicensed Licensed Download PDF	384
CONTRIBUTORS Requires Authentication Unlicensed Licensed Download PDF	391
INDEX Requires Authentication Unlicensed Licensed Download PDF	401

Language: English
Publisher: Columbia University Press
Audience: General/trade;

eBook

Published: October 21, 2019
ISBN: 9780231549998