Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/24856
Authors: 
Siebert, Horst
Year of Publication: 
2008
Series/Report no.: 
Kiel Working Paper 1461
Abstract: 
In a series of summits, leading countries of the world will meet to draw up an international arrangement for financial stability. Such a rule system should prevent a financial crisis as we have seen it in 2007 and 2008. It should include appropriate principles of monetary policy, rules for financial soundness and agreements on the role of prudent regulation. The paper discusses the lessons from the subprime crisis, failures of regulation, crisis management in the US and in the EU and considers the problems that have to be solved by an international rule system.
Subjects: 
Financial instability
lessons from the subprime crisis
failures of regulation
crisis management
elements of an international rule system
role of the IMF
JEL: 
E2
E3
E5
F02
F33
F37
F4
F5
G2
P00
Document Type: 
Working Paper

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