In developing the architecture for a financial system, the challenge is to combine deregulation and safety nets against systemic failure with effective prudential regulation and oversight. The author analyzes three approaches to choosing an adequate regulatory framework for a financial system. a) Those most worried about panic and herd behavior tend to favor relatively extensive controls on financial institutions' activities, including controls on...
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INFORMATION
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1999/11/30
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Document de travail de recherche sur les politiques
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WPS2226
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1
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1
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2010/07/01
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Money, politics and a future for the international financial system
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financial system
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