Solving the present crisis and managing the leverage cycle

John Geanakoplos

Economic Policy Review, 2010, vol. 16, issue Aug, 131 pages

Abstract: Yale University professor John Geanakoplos discusses implications of ?the leverage cycle??a phenomenon in which leverage is excessive prior to a financial crisis and unacceptably low during the crisis?for regulatory policy and reform. Presented as the keynote address at \\"Central Bank Liquidity Tools and Perspectives on Regulatory Reform\\" a conference sponsored by the Federal Reserve Bank of New York, February 19-20, 2009.

Keywords: Financial market regulatory reform; Investments; Swaps (Finance); Default (Finance); Uncertainty; Financial crises; Federal Reserve System; Equilibrium (Economics); Housing - Prices; Assets (Accounting) (search for similar items in EconPapers)
Date: 2010
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Citations: View citations in EconPapers (143)

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