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dc.contributor.authorMilne, Alistairen
dc.date.accessioned2012-08-09-
dc.date.accessioned2012-08-16T17:21:36Z-
dc.date.available2012-08-16T17:21:36Z-
dc.date.issued2012-
dc.identifier.urihttp://hdl.handle.net/10419/60493-
dc.description.abstractA 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
dc.language.isoengen
dc.publisher|aKiel Institute for the World Economy (IfW) |cKielen
dc.relation.ispartofseries|aEconomics Discussion Papers |x2012-34en
dc.subject.jelE44en
dc.subject.jelG21en
dc.subject.jelG28en
dc.subject.ddc330en
dc.subject.keywordBasel IIIen
dc.subject.keyworddebt deflationen
dc.subject.keywordendogenous moneyen
dc.subject.keywordfinancial regulationen
dc.subject.keywordglobal financial crisisen
dc.subject.keywordlimited purpose bankingen
dc.subject.keywordmaturity mismatchen
dc.subject.keywordnarrow moneyen
dc.subject.keywordPigouvian taxesen
dc.subject.keywordring fencingen
dc.subject.keywordsystemic financial risken
dc.subject.keywordsystemic financial externalitiesen
dc.subject.keywordTobin taxen
dc.subject.stwGeldsubstituten
dc.subject.stwFinanzmarktkriseen
dc.subject.stwRegulierungen
dc.subject.stwBasler Akkorden
dc.subject.stwHybrides Finanzprodukten
dc.subject.stwFinanzderivaten
dc.subject.stwWelten
dc.titleRegister, issue, cap and trade: A proposal for ending current and future financial crises-
dc.typeWorking Paperen
dc.identifier.ppn720844827en
dc.rights.licensehttp://creativecommons.org/licenses/by-nc/2.0/de/deed.enen
dc.identifier.repecRePEc:zbw:ifwedp:201234en

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