Issues in Finance: Credit, Crises and Policies (Surveys of Recent Research in Economics)

Issues in Finance: Credit, Crises and Policies presents a collection of surveys on key issues surrounding the relationship between credit, finance, and the macro-economy that are linked to the recent global financial crisis. Presents a timely collection of surveys that shed light on the recent financial crisis Offers insights for economists in government, business, and finance Shows how the mainstream economics literature was not blind to the potential problems of the financial framework and its interplay with the macro-economy Content: Chapter 1 Bank Capital Requirements, Business Cycle Fluctuations and the Basel Accords: A Synthesis (pages 5–37): Ines Drumond Chapter 2 The Ten Commandments for Optimizing Value?at?Risk and Daily Capital Charges (pages 39–57): Michael McAleer Chapter 3 The Ten Commandments for Managing Value at Risk Under the Basel II Accord (pages 59–64): Juan?Angel Jimenez?Martin, Michael McAleer and Teodosio Perez?Amaral Chapter 4 Sovereign Insolvency Procedures – A Comparative Look at Selected Proposals (pages 65–90): Kathrin Berensmann and Angelique Herzberg Chapter 5 Collective Action Clauses in International Sovereign Bond Contracts – Whence the Opposition? (pages 91–131): Sonke Haseler Chapter 6 Collateral and Credit Rationing: A Review of Recent Empirical Studies as a Guide for Future Research (pages 133–155): Tensie Steijvers and Wim Voordeckers Chapter 7 The Stock Market, Housing and Consumer Spending: A Survey of the Evidence on Wealth Effects (pages 157–182): Monica Paiella Chapter 8 Price?Level Targeting and Stabilisation Policy: A Survey (pages 183–206): Steve Ambler "Issues in Finance: Credit, Crises and Policies presents a collection of surveys on key issues surrounding the relationship between credit, finance, and the macro-economy that are linked to the recent global financial crisis. Presents a timely collection of surveys that shed light on the recent financial crisis. Offers insights for economists in government, business, and finance. Shows how the mainstream economics literature was not blind to the potential problems of the financial framework and its interplay with the macro-economy."--Provided by publisher. "Recent years for economics and economists have been interesting times. Macroeconomics, and its interplay with finance and credit, had actually come to be seen as boring in some quarters following so many years of relative stability. Today, of course, macroeconomics is no longer perceived as antiquated and dull. Yet through the years leading up to the recent financial crisis, the 'cognoscenti' had never grown complacent. Many economists continued to toil away at key issues surrounding the relationship between credit, finance, and the macro-economy. The surveys collected in this book reflect many important aspects of these efforts. Topics covered include the Basel accords, sovereign insolvency procedures, collateral and credit, links between stock and house prices and consumer spending, and price-level targeting. This thought-provoking collection also reveals how much of mainstream economics literature was, in fact, well aware of the potential problems of the financial framework that would soon result in a global economic meltdown. Timely and relevant, Issues in Finance sheds important new light on the recent financial crisis and offers keen insights for reflection and future policy considerations"--Provided by publisher. __Issues in Finance: Credit, Crises and Policies__ presents a collection of surveys on key issues surrounding the relationship between credit, finance, and the macro-economy that are linked to the recent global financial crisis. * Presents a timely collection of surveys that shed light on the recent financial crisis * Offers insights for economists in government, business, and finance * Shows how the mainstream economics literature was not blind to the potential problems of the financial framework and its interplay with the macro-economy Content: Chapter 1 Bank Capital Requirements, Business Cycle Fluctuations and the Basel Accords: A Synthesis (pages 5–37): Ines DrumondChapter 2 The Ten Commandments for Optimizing Value?at?Risk and Daily Capital Charges (pages 39–57): Michael McAleerChapter 3 The Ten Commandments for Managing Value at Risk Under the Basel II Accord (pages 59–64): Juan?Angel Jimenez?Martin, Michael McAleer and Teodosio Perez?AmaralChapter 4 Sovereign Insolvency Procedures – A Comparative Look at Selected Proposals (pages 65–90): Kathrin Berensmann and Angelique HerzbergChapter 5 Collective Action Clauses in International Sovereign Bond Contracts – Whence the Opposition? (pages 91–131): Sonke HaselerChapter 6 Collateral and Credit Rationing: A Review of Recent Empirical Studies as a Guide for Future Research (pages 133–155): Tensie Steijvers and Wim VoordeckersChapter 7 The Stock Market, Housing and Consumer Spending: A Survey of the Evidence on Wealth Effects (pages 157–182): Monica PaiellaChapter 8 Price?Level Targeting and Stabilisation Policy: A Survey (pages 183–206): Steve Ambler Recent years for economics and economists have been interesting times. Macroeconomics, and its interplay with finance and credit, had actually come to be seen as boring in some quarters following so many years of relative stability. Today, of course, macroeconomics is no longer perceived as antiquated and dull. Yet through the years leading up to the recent financial crisis, the 'cognoscenti' had never grown complacent. Many economists continued to toil away at key issues surrounding the relationship between credit, finance, and the macro-economy. The surveys collected in this book reflect many important aspects of these efforts. Topics covered include the Basel accords, sovereign insolvency procedures, collateral and credit, links between stock and house prices and consumer spending, and price-level targeting. This thought-provoking collection also reveals how much of mainstream economics literature was, in fact, well aware of the potential problems of the financial framework that would soon result in a global economic meltdown. Timely and relevant, Issues in Finance sheds important new light on the recent financial crisis and offers keen insights for reflection and future policy considerations.-- Résumé de l'éditeur "A groundbreaking exploration of the critical ethical issues in financial theory and practice Compiled by volume editor John Boatright, Finance Ethics consists of contributions from scholars from many different finance disciplines. It covers key issues in financial markets, financial services, financial management, and finance theory, and includes chapters on market regulation, due diligence, reputational risk, insider trading, derivative contracts, hedge funds, mutual and pension funds, insurance, socially responsible investing, microfinance, earnings management, risk management, bankruptcy, executive compensation, hostile takeovers, and boards of directors. Special attention is given to fairness in markets and the delivery of financial services, and to the duties of fiduciaries and agents. Rigorous analysis of the topics covered provides essential information and practical guidance for practitioners in finance as well as for students and academics with an interest in finance ethics. Ethics in Finance skillfully explains the need for ethics in the personal conduct of finance professionals and the operation of financial markets and institutions."-- Provided by publisher Machine generated contents note: Issues in Finance: Credit, Crises and Policies - An Overview (Stuart Sayer). 1. Bank Capital Requirements, Business Cycle Fluctuations and the Basel Accords: A Synthesis (Ines Drumond). 2. The Ten Commandments for Optimizing Value-At-Risk and Daily Capital Charges (Michael McAleer). 3. The Ten Commandments for Managing Value at Risk Under the Basel II Accord (Juan-Ángel Jime;nez-Marti;n, Michael McAleer, and Teodosio Pe;rez-Amaral). 4. Sovereign Insolvency Procedures - A Comparative Look at Selected Proposals (Kathrin Berensmann and Ange;lique Herzberg). 5. Collective Action Clauses in International Sovereign Bond Contracts - Whence the Opposition? (Sönke Ha;seler). 6. Collateral and Credit Rationing: A Review of Recent Empirical Studies as A Guide for Future Research (Tensie Steijvers and Wim Voordeckers). 7. The Stock Market, Housing and Consumer Spending: A Survey of the Evidence on Wealth Effects (Monica Paiella). 8. Price-Level Targeting and Stabilisation Policy: A Survey (Steve Ambler). Index. Issues in Finance: Credit, Crises and Policies presents a collection of surveys on key issues surrounding the relationship between credit, finance, and the macro-economy that are linked to the recent global financial crisis. Presents a timely collection of surveys that shed light on the recent financial crisis. Offers insights for economists in government, business, and finance. Shows how the mainstream economics literature was not blind to the potential problems of the financial framework and its interplay with the macro-economy.-- Résumé de l'éditeur Ethics in Finance is a ground-breaking work in the emerging field of finance ethics. Beginning with examples of the scandals that have shaken public confidence in the ethics of Wall Street, this book explains the need for ethics in the personal conduct of finance professionals and the operation of financial markets and institutions.