Skip to main content Accessibility help
×
Hostname: page-component-8448b6f56d-t5pn6 Total loading time: 0 Render date: 2024-04-24T16:48:49.730Z Has data issue: false hasContentIssue false

2 - Financial Innovation and Financial Stability: An Introduction

Published online by Cambridge University Press:  10 November 2017

Esa Jokivuolle
Affiliation:
Bank of Finland
Radu Tunaru
Affiliation:
University of Kent, Canterbury
Get access

Summary

Image of the first page of this content. For PDF version, please use the ‘Save PDF’ preceeding this image.'
Type
Chapter
Information
Preparing for the Next Financial Crisis
Policies, Tools and Models
, pp. 26 - 36
Publisher: Cambridge University Press
Print publication year: 2017

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)

References

Aghion, P., Farhi, E. and Kharroubi, E. (2012). Monetary policy, liquidity, and growth. NBER Working Paper 18072. Cambridge, MA: National Bureau of Economic Research.Google Scholar
Alessandri, P. and Haldane, A. G. (2009). Banking on the state. Bank of England, November 2009.Google Scholar
Beck, T., Chen, T., Lin, C. and Song, F.M. (2012). Financial innovation: The bright and the dark sides. HKIMR Working Paper 05/2012. Hong Kong: Hong Kong Institute for Monetary Research.Google Scholar
Bernanke, B. S. (2005). The global saving glut and the U.S. current account deficit. Speech delivered at the Sandridge Lecture, Virginia Association of Economists, Richmond, Virginia, March 10, 2005.Google Scholar
Biais, B., Rochet, J-C. and Woolley, P. (2010). Innovations, rents and risk. The Paul Woolley Centre Discussion Paper No. 659. London: The Paul Woolley Centre for the Sudy of Capital Market Dysfunctionality.Google Scholar
Bolton, P. (2016). The Good banker. In Glaeser, E., Santos, T. and Weyl, G. (eds.), Après le Déluge: Finance and the Common Good after the Crisis. Chicago: University of Chicago Press.Google Scholar
Bolton, P., Santos, T. and Scheinkman, J. (2012). Cream skimming in financial markets. NBER Working Paper 16804. Cambridge, MA: National Bureau of Economic Research.Google Scholar
Cecchetti, S. and Kharroubi, E. (2012). Reassessing the impact of finance on growth. BIS Working Paper 381. Basel: Bank for International Settlements.Google Scholar
Claessens, S., Kose, M.A., Laeven, L. and Valencia, F. (eds.) (2014). Understanding Financial Crises: Causes, Consequences, and Policy Responses. Washington, DC: International Monetary Fund.Google Scholar
Davies, R. and Tracey, B. (2014). Too big to be efficient? The impact of implicit funding subsidies on scale economies in banking. Journal of Money, Credit and Banking 46:1, 219253.CrossRefGoogle Scholar
DeYoung, R., Peng, E. Y. and Yan, M. (2013). Executive compensation and business policy choices at U.S. commercial banks. Journal of Financial and Quantitative Analysis 48, 165196.Google Scholar
Draghi, M. (2012). Speech in London. Available at www.ecb.europa.eu/press/key/date/2012/html/sp120726.en.html.Google Scholar
European Commission (2015). European Parliament adopts Commission proposal to improve transparency of the shadow banking sector. Press release 29 October 2015.Google Scholar
Gennaioli, N., Shleifer, A. and Vishny, R.W. (2012). Neglected risks, financial innovation and financial fragility. Journal of Financial Economics 104:3, 452468.CrossRefGoogle Scholar
Hanson, S. G., Kashyap, A. K. and Stein, J. C. (2010). A macroprudential approach to financial regulation. Journal of Economic Perspectives 25:1, 328.Google Scholar
Laeven, L. and Levine, R. (2007). Is there a diversification discount in financial conglomerates? Journal of Financial Economics 85:2, 331367.Google Scholar
Liikanen, E. (2012). High-level Expert Group on reforming the structure of the EU banking sector (final report). Brussels.Google Scholar
Mendicino, C., Nikolov, K., Suarez, J. and Supera, D. (2015). Welfare analysis of implementable macroprudential policy rules: Heterogeneity and trade-offs. Available at www.cemfi.es/~suarez/MNSS_2015.pdf.Google Scholar
Rajan, R. (2005). Has finance made the world riskier? In The Greenspan Era: Lessons for the Future, Federal Reserve Bank of Kansas City. Also published in European Financial Management, 12:4, 2006, 499–533.Google Scholar
Rajan, R. (2013). A step in the dark: Unconventional monetary policy after the crisis. Andrew Crockett Memorial Lecture, Bank for International Settlements, 23 June 2013.Google Scholar
Shin, H. S. (2012). Global banking glut and loan risk premium. IMF Economic Review, 60, 155192.Google Scholar
Rajan, R. (2014). Procyclicality and the search for early warning indicators. In Claessens, S., Kose, M. A., Laeven, L. and Valencia, F. (eds.), Understanding Financial Crises: Causes, Consequences, and Policy Responses, pp. 157–171. Washington, DC: International Monetary Fund.Google Scholar
Stein, J. (2012). Monetary policy as financial-stability regulation. Quarterly Journal of Economics 127, 5795.Google Scholar

Save book to Kindle

To save this book to your Kindle, first ensure coreplatform@cambridge.org is added to your Approved Personal Document E-mail List under your Personal Document Settings on the Manage Your Content and Devices page of your Amazon account. Then enter the ‘name’ part of your Kindle email address below. Find out more about saving to your Kindle.

Note you can select to save to either the @free.kindle.com or @kindle.com variations. ‘@free.kindle.com’ emails are free but can only be saved to your device when it is connected to wi-fi. ‘@kindle.com’ emails can be delivered even when you are not connected to wi-fi, but note that service fees apply.

Find out more about the Kindle Personal Document Service.

Available formats
×

Save book to Dropbox

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Dropbox.

Available formats
×

Save book to Google Drive

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Google Drive.

Available formats
×