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Keep It Simple

Policy Responses to the Financial Crisis

Carmine Di Noia (author) Stefano Micossi (author)
Jacopo Carmassi (With)
Fabrizia Peirce (With)

ISBN: 9789290798637

Publication Date: Jul 2009

Format: Paperback

How can the world avoid repetition of the catastrophic financial instability currently plaguing the global economy? With the aim of restoring a strong 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.
£15.95

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How can the world avoid repetition of the catastrophic financial instability currently plaguing the global economy? With the aim of restoring a strong 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.

The authors advocate stricter prudential rules for banks, centered around the introduction of a simple leverage ratio calculated with reference to total assets, with no exemptions or risk mitigation. The book warns against the risk of a massive wave of new regulation that is not needed and might cripple capital markets for years, calling instead for a simplification and a better enforcement of rules. In short, the message, as reflected in the title, is: 'Keep it simple'.
Language English
Pages 96
Dimensions 241 x 171
Date Published 30 Jul 2009
Publisher Centre for European Policy Studies
Subject/s Economics   Financial crises & disasters   International economics   Globalization   International relations  
Carmine Di Noia is deputy director general of Assonime and a member of the European Securities Markets Expert Group (ESME) at the European Commission.

Stefano Micossi is director general of Assonime, a professor at the College of Europe, and a member of the CEPS board of directors.

Jacopo Carmassi is a researcher at Assonime and a fellow of the Wharton Financial Institutions Center.

Fabrizia Peirce is an economist in Assonime's economic unit.

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