 European and Global Reform Requirements for Overcoming the Banking CrisisNo disbei180, EIIW Discussion paper from Universitätsbibliothek Wuppertal, University Library Abstract: This paper takes a look at the national and international reforms taken in OECD countries after the Transatlantic Banking Crisis. Key elements of the international economic order are analyzed and proposals for reforms both at the national and international level are presented. Economics has come under serious pressure after the banking crisis, the traditional models are concerned too much with deviations from an exogenous long-run equilibrium - instead, more emphasis should be given to long-run growth analysis, including the implications of the golden rule. The G20 reform process taken in the first two years after the banking crisis is partly inadequate and several proposals are presented for the EU and the OECD countries and the G20 that could contribute to a stable and efficient global economic system: The SGP should be adjusted to include requirements for Eurozone countries to achieve a budget surplus in boom periods; moreover, a volatility tax on the rate of return on equity should be imposed on banks and other key financial actors as well as a two-stage financing of ratings. Keywords: Banking crisis; Europe; Global (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:bwu:eiiwdp:disbei180 Access Statistics for this paper More papers in EIIW Discussion paper from Universitätsbibliothek Wuppertal, University Library |
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