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Economics: The Open-Access, Open-Assessment E-Journal - Discussion Papers >
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http://hdl.handle.net/10419/60493
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Full metadata record
| DC Field | | Value | | Language |
| dc.contributor.author | | Milne, Alistair | | en_US |
| dc.date.accessioned | | 2012-08-09 | | en_US |
| dc.date.accessioned | | 2012-08-16T17:21:36Z | | - |
| dc.date.available | | 2012-08-16T17:21:36Z | | - |
| dc.date.issued | | 2012 | | en_US |
| dc.identifier.uri | | http://hdl.handle.net/10419/60493 | | - |
| dc.description.abstract | | A fundamental cause of the global financial crisis was excessive creation of short-term money-like liabilities (quasi-money), notably in shadow banking holdings of sub-prime MBS and other US dollar structured credit instruments and in cross-border flow of capital to the uncompetitive Euro area periphery. This paper proposes a registration system for: (i) controlling quasi-money and resulting economic externalities and systemic risks; and (ii) supporting public sector monetary issue to counter collapse of private sector credit in the aftermath of crises. This policy would trigger a profound but also economically beneficial change in the business models of both banks and long-term investors. | | en_US |
| dc.language.iso | | eng | | en_US |
| dc.publisher | | Kiel Institute for the World Economy (IfW) Kiel | | en_US |
| dc.relation.ispartofseries | | Economics Discussion Papers 2012-34 | | en_US |
| dc.subject.jel | | E44 | | en_US |
| dc.subject.jel | | G21 | | en_US |
| dc.subject.jel | | G28 | | en_US |
| dc.subject.ddc | | 330 | | en_US |
| dc.subject.keyword | | Basel III | | en_US |
| dc.subject.keyword | | debt deflation | | en_US |
| dc.subject.keyword | | endogenous money | | en_US |
| dc.subject.keyword | | financial regulation | | en_US |
| dc.subject.keyword | | global financial crisis | | en_US |
| dc.subject.keyword | | limited purpose banking | | en_US |
| dc.subject.keyword | | maturity mismatch | | en_US |
| dc.subject.keyword | | narrow money | | en_US |
| dc.subject.keyword | | Pigouvian taxes | | en_US |
| dc.subject.keyword | | ring fencing | | en_US |
| dc.subject.keyword | | systemic financial risk | | en_US |
| dc.subject.keyword | | systemic financial externalities | | en_US |
| dc.subject.keyword | | Tobin tax | | en_US |
| dc.subject.stw | | Geldsubstitut | | en_US |
| dc.subject.stw | | Finanzmarktkrise | | en_US |
| dc.subject.stw | | Regulierung | | en_US |
| dc.subject.stw | | Basler Akkord | | en_US |
| dc.subject.stw | | Hybrides Finanzprodukt | | en_US |
| dc.subject.stw | | Finanzderivat | | en_US |
| dc.subject.stw | | Welt | | en_US |
| dc.title | | Register, issue, cap and trade: A proposal for ending current and future financial crises | | en_US |
| dc.type | | Working Paper | | en_US |
| dc.identifier.ppn | | 720844827 | | en_US |
| dc.rights.license | | http://creativecommons.org/licenses/by-nc/2.0/de/deed.en | | en_US |
| dc.identifier.repec | | RePEc:zbw:ifwedp:201234 | | - |
| Appears in Collections: | | Economics: The Open-Access, Open-Assessment E-Journal - Discussion Papers
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