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- Title
We Are Not Macroprudentialists.
- Authors
GLĂVAN, BOGDAN; ANGHEL, FLAVIA
- Abstract
The article presents the author's view regarding the prudential regulation of dealing with systemic externalities. The author argues that systemic externalities expose free market to episodes for boom and bust. The author states that as of January 2013, the case for prudential regulation is no better than it was before the 2008 global financial crisis. The author states that market failure related to systemic externalities can be solved through bank regulation and taxation. Systemic risk due to imprudent monetary policy and the risk of liquidity are discussed.
- Subjects
UNITED States; EXTERNALITIES; WELFARE economics; FREE enterprise; GLOBAL Financial Crisis, 2008-2009; BANKING policy; TAXATION; MONETARY policy
- Publication
Independent Review, 2013, Vol 17, Issue 3, p349
- ISSN
1086-1653
- Publication type
Article