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https://hdl.handle.net/10419/60493
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DC Field | Value | Language |
---|---|---|
dc.contributor.author | Milne, Alistair | en |
dc.date.accessioned | 2012-08-09 | - |
dc.date.accessioned | 2012-08-16T17:21:36Z | - |
dc.date.available | 2012-08-16T17:21:36Z | - |
dc.date.issued | 2012 | - |
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 |
dc.language.iso | eng | en |
dc.publisher | |aKiel Institute for the World Economy (IfW) |cKiel | en |
dc.relation.ispartofseries | |aEconomics Discussion Papers |x2012-34 | en |
dc.subject.jel | E44 | en |
dc.subject.jel | G21 | en |
dc.subject.jel | G28 | en |
dc.subject.ddc | 330 | en |
dc.subject.keyword | Basel III | en |
dc.subject.keyword | debt deflation | en |
dc.subject.keyword | endogenous money | en |
dc.subject.keyword | financial regulation | en |
dc.subject.keyword | global financial crisis | en |
dc.subject.keyword | limited purpose banking | en |
dc.subject.keyword | maturity mismatch | en |
dc.subject.keyword | narrow money | en |
dc.subject.keyword | Pigouvian taxes | en |
dc.subject.keyword | ring fencing | en |
dc.subject.keyword | systemic financial risk | en |
dc.subject.keyword | systemic financial externalities | en |
dc.subject.keyword | Tobin tax | en |
dc.subject.stw | Geldsubstitut | en |
dc.subject.stw | Finanzmarktkrise | en |
dc.subject.stw | Regulierung | en |
dc.subject.stw | Basler Akkord | en |
dc.subject.stw | Hybrides Finanzprodukt | en |
dc.subject.stw | Finanzderivat | en |
dc.subject.stw | Welt | en |
dc.title | Register, issue, cap and trade: A proposal for ending current and future financial crises | - |
dc.type | Working Paper | en |
dc.identifier.ppn | 720844827 | en |
dc.rights.license | http://creativecommons.org/licenses/by-nc/2.0/de/deed.en | en |
dc.identifier.repec | RePEc:zbw:ifwedp:201234 | en |
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