Solving the present crisis and managing the leverage cycle
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; Assets (Accounting); Investments; Equilibrium (Economics); Financial crises; Housing - Prices; Swaps (Finance); Default (Finance); Uncertainty; Federal Reserve System;
File(s): File format is application/pdf https://www.newyorkfed.org/medialibrary/media/research/epr/10v16n1/1008gean.pdf
Provider: Federal Reserve Bank of New York
Part of Series: Economic Policy Review