Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/78017
Authors: 
Goldstein, Morris
Véron, Nicolas
Year of Publication: 
2011
Series/Report no.: 
Bruegel Working Paper 2011/03
Abstract: 
Although the United States and the European Union were both seriously impacted by the financial crisis of 2007, the resulting policy debates and regulatory responses have differed considerably on the two sides of the Atlantic. In this paper the authors examine the debates on the problem posed by 'big to fail' financial institutions. They identify variations in historical experiences, financial system structures, and political institutions that help one understand the differences in the approaches of the US, EU member states, and the EU institutions in addressing this problem. The authors then turn to possible remedies and how they may be differentially implemented in America and Europe. They conclude on the policy developments that are likely in the near future.
Subjects: 
banks
comparative political economy
financial regulation
microprudential policy
too-big-to-fail
JEL: 
G01
G21
G38
F36
Document Type: 
Working Paper
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