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200 10$aWhy are there so many banking crises?$b[electronic resource] $ethe politics and policy of bank regulation /$fJean-Charles Rochet
205   $aCourse Book
210   $aPrinceton, NJ $cPrinceton University Press$d2008
215   $a1 online resource (320 p.)
300   $aDescription based upon print version of record.
311   $a0-691-13146-5 
320   $aIncludes bibliographical references.
327   $aWhy are there so many banking crises? / Jean-Charles Rochet -- Coordination failures and the lender of last resort : was Bagehot right after all? / Jean-Charles Rochet, Xavier Vives -- The lender of last resort : a twenty-first century approach / Xavier Freixas, Bruno M. Parigi, Jean-Charles Rochet -- Macroeconomic shocks and banking supervision / Jean-Charles Rochet -- Interbank lending and systemic risk / Jean-Charles Rochet, Jean Tirole -- Controlling risk in payment systems / Jean-Charles Rochet, Jean Tirole -- Systemic risk, interbank relations, and the central bank / Xavier Freixas, Bruno M. Parigi, Jean-Charles Rochet -- Capital requirements and the behavior of commercial banks / Jean-Charles Rochet -- Rebalancing the three pillars of Basel II / Jean-Charles Rochet -- The three pillars of Basel II : optimizing the mix / Jean-Paul De?camps, Jean-Charles Rochet, Benoi?t Roger.
330   $aAlmost every country in the world has sophisticated systems to prevent banking crises. Yet such crises--and the massive financial and social damage they can cause--remain common throughout the world. Does deposit insurance encourage depositors and bankers to take excessive risks? Are banking regulations poorly designed? Or are banking regulators incompetent? Jean-Charles Rochet, one of the world's leading authorities on banking regulation, argues that the answer in each case is "no." In Why Are There So Many Banking Crises?, he makes the case that, although many banking crises are precipitated by financial deregulation and globalization, political interference often causes--and almost always exacerbates--banking crises. If, for example, political authorities are allowed to pressure banking regulators into bailing out banks that should be allowed to fail, then regulation will lack credibility and market discipline won't work. Only by insuring the independence of banking regulators, Rochet says, can market forces work and banking crises be prevented and minimized. In this important collection of essays, Rochet examines the causes of banking crises around the world in recent decades, focusing on the lender of last resort; prudential regulation and the management of risk; and solvency regulations. His proposals for reforms that could limit the frequency and severity of banking crises should interest a wide range of academic economists and those working for central and private banks and financial services authorities.
606   $aBank failures$xGovernment policy
606   $aBanks and banking$xState supervision
606   $aLenders of last resort
608   $aElectronic books.
615  0$aBank failures$xGovernment policy.
615  0$aBanks and banking$xState supervision.
615  0$aLenders of last resort.
676   $a332.1
700   $aRochet$b Jean-Charles$0140852
801  0$bMiAaPQ
801  1$bMiAaPQ
801  2$bMiAaPQ
906   $aBOOK
912   $a9910455228403321
996   $aWhy are there so many banking crises$92490664
997   $aUNINA