ICFR Calendar
Regulatory Calendar

Participate in key ICFR activities

If you have an interest in contributing towards our key activities of research, training or events please contact us.

Library > Bibliography

Bibliography

What's New?

 

Irrational Exuberance

by Robert J. Shiller - Princeton University
2000

The book puts forth several arguments demonstrating how the stock markets were overvalued at the time.

This text would be blue.


Financial Regulation and Supervision in EU Countries

by Enrico Maria Cervellati - OUP
2003

This work provides an analysis of the different systems of financial regulation and supervision in EU Countries. In particular it analyses the cases of France, Germany, Italy, Spain and the U.K on the regulation and supervision of the banking sectors, but also with reference to insurance companies and the securities market

This text would be blue.


The Misbehaviour of Markets

by Benoit Mandelbrot - Springer Netherlands
2004

The book focuses on financial markets. The book is divided into 3 sections: (i) the past, (ii) the present and (iii) the future of our knowledge of the behaviour of financial markets.

This text would be blue.


The Black Swan

by Nassim Nicholas Taleb
2007

The book talks about the fact that extreme events are more likely than we think. Taleb calls these "Black Swans" after the one-time European certainty, based on northern hemisphere experience, that all swans were white. Among the many examples he discusses are the start of World War I, the sales of the Harry Potter novels, and a turkey who spends a thousand days being well fed before being killed on the thousand-and-first day.

This text would be blue.


Global Financial Regulation: The Essential Guide

by Howard Davies and David Green - Polity
2008

A highly readable beginners’ overview of the global financial regulatory framework and infrastructure.

Click here for more information

This text would be blue.


‘The Future of Financial Regulation’ in World Economics vol. 9 no. 1

by Howard Davies
2008

A paper written by the former chairman of the FSA in the early days of the financial crisis.

This text would be blue.


The Origin of Financial Crises: Central banks, credit bubbles and the efficient market fallacy

by George Cooper - Harriman House Publishing
2008

A compelling and interesting take on the reasons for the development of the financial crisis, and asset price bubbles in general. Cooper takes an approach which is both theoretical and practical (and easy to understand) which borrows from the Minsky.

Amazon UK - The Origin of Financial Crises

This text would be blue.


Learning from the financial crisis

by Sir John Gieve
2008

This speech highlights the fact that the crisis is a truly global event because its roots lie in unbalanced global growth.

http://www.bis.org/review/r081126d.pdf

This text would be blue.


Uncertainty and Risk: reflections on a turbulent year

by Adair Turner
2008

This speech by Lord Turner gives a comprehensive picture of the global economic situation. Turner clarifies the difference between risk and uncertainty.

http://www.cass.city.ac.uk/media/stories/resources/Turner_Feb08_Notes.doc

This text would be blue.


Banking on Basel: The Future of International Financial Regulation

by Daniel Tarullo - Peterson Institute for International Economics
2008

A thorough – but readable – analysis and critique of the entire Basel II framework.

Amazon UK - Banking on Basel

This text would be blue.


Containing systemic risk: the road to reform

by Counterparty Risk Management Policy Group III
2008

The report covers various core precepts of mitigating risks, makes recommendations and lays down an implementation plan for 2009.

http://www.crmpolicygroup.org/docs/CRMPG-III.pdf

This text would be blue.


Finance: a return from risk

by Mervyn King
2009

This speech discusses the nature of risk in the financial system and draws lessons about the policy responses that are required to ensure greater monetary and financial stability in the future.

http://www.bankofengland.co.uk/publications/speeches/2009/speech381.pdf

This text would be blue.


Central banks and financial crisis

by Willem H. Buiter
2009

The paper draws lessons from the experience of the credit crisis for the conduct of central banks in the pursuit of macroeconomic and financial stability.

http://www.kc.frb.org/publicat/sympos/2008/Buiter.03.12.09.pdf

This text would be blue.


Will the banks survive?

by Shawn Tully
2009

The article focuses on the consequences of nationalisation of the big banks, post their bailout by the government.

http://money.cnn.com/2009/02/27/news/economy/tully_banks.fortune/index.htm

This text would be blue.


Rethinking the financial network

by Andrew Haldane
2009

This speech outlines how the emergence of complexity and homogeneity in the financial network over the past decade has resulted in sharp discontinuities in the financial system.

http://www.bankofengland.co.uk/publications/speeches/2009/speech386.pdf

This text would be blue.


Contested international agreements and domestic institutions: The case of Basel II

by Dr. Andrew Walter
2009

The article discusses the factors determine how domestic implementation of Basel II proceeds

This text would be blue.


Why banks failed the stress test

by Andrew G Haldane
2009

This speech diagnoses some of the market failures in stress testing practises highlighted by the crisis and also suggests some practical ways in which stress testing might deliver answers which may possibly be correct.

http://www.bankofengland.co.uk/publications/speeches/2009/speech374.pdf

This text would be blue.


Financial intermediaries, financial stabilities and monetary policy

by Tobias Adrian and Hyun Song Shin
2009

The paper presents empirical results on the real impact of broker-dealer balance sheet changes, the determinants of balance sheet changes, and how US monetary policy has reacted to balance sheet changes, concluded with some implications for the conduct of monetary policy.

http://www.kc.frb.org/publicat/sympos/2008/Shin.03.12.09.pdf

This text would be blue.


Emerging contours of financial regulation and challenges and dynamics

by Dr. Rakesh Mohan
2009

A broad overview of the global developments which contributed to the current financial crisis also analysing the proposals for reforming the regulatory framework as well as implementing the regulatory proposals.

http://www.bis.org/review/r090615c.pdf?noframes=1

This text would be blue.


The regulatory response to the financial crisis

by Charles A.E Goodhart
2009

This book describes how the crisis exposed regulatory failings, drawing largely on UK experience, and suggests remedies.

This text would be blue.


Fixing Global Finance

by Martin Wolf - Yale University Press
2009

A journalistic – but not simplistic – analysis of the causes of the financial crisis by the chief economics commentator at the Financial Times.

http://www.yalebooks.co.uk/display.asp?K=9780300142778

This text would be blue.


The panic of 2007

by Gary B. Gorton
2009

The paper explains how subprime mortgages work, the link to CDOs and the inner workings of these vehicles. It examines the panic itself, the falling house prices, role of the ABX indices, the runs on the SIVs, the liquidity crisis and some exacerbating factors.

http://www.kc.frb.org/publicat/sympos/2008/Gorton.03.12.09.pdf

This text would be blue.


The subprime turmoil: what’s old, what’s new and what’s next.

by Charles W. Calomiris
2009

The essay considers the origins of the subprime turmoil and the way the financial system has responded to it. In the light of the old and new components in both the origins and propagation of the subprime shocks, the essay concludes by considering the near-term future of financial and macro-economic performance, and the implication for monetary policy, regulatory policy, and the future of the structure of the financial services industry.

http://www.kc.frb.org/publicat/sympos/2008/Calomiris.03.12.09.pdf

This text would be blue.


The role of liquidity in financial crisis

by Franklin Allen and Elena Carletti
2009

The article considers what liquidity actually is and how liquidity is created by banks, leading to a discussion of the theoretical framework for understanding liquidity provision.

http://www.kc.frb.org/publicat/sympos/2008/AllenandCarletti.03.12.09.pdf

This text would be blue.


The road to long finance: A systems view of the credit scrunch

by Michael Mainelli and Bob Giffords
2009

Within this book the authors have drawn on a formidable array of evidence and commentary in surveying thinking about the financial system.

http://www.zyen.com/Knowledge/Books/Road%20to%20Long%20Finance_8LR.pdf

This text would be blue.


Optional Federal Chartering of Insurance: Rationale and Design of a Regulatory Structure

by Martin F. Grace and Hal S. Scott
2009

This article examines the case for optional federal charters focusing on the costs and benefits of regulation at the federal versus the state level and conclude that an optional federal chartering system dominates the status quo. Secondly the article examines the additional issues required to be addressed if we adopt an insurance OFC system.

http://papers.ssrn.com/sol3/Delivery.cfm/SSRN_ID1175104_code16673.pdf?abstractid=1175104&mirid;=1

This text would be blue.


Rethinking capital regulation

by Anil K. Kashyap, Raghuram G. Rajan and Jeremy C. Stein
2009

The article analyses capital regulation with a particular focus on the limitation of the current system and develops specific capital-insurance proposal.

This text would be blue.


FSA Discussion Paper 09/2

by The FSA
2009

The discussion paper sets out the FSA’s initial thinking on how the recommendations can be translated to practical policy proposals.

http://www.fsa.gov.uk/pubs/discussion/dp09_02.pdf

This text would be blue.


Macro prudential regulation – the missing policy pillar

by By E Philip Davis and Dilruba Karim
2009

This article seeks to assess the need for a macro prudential policy pillar and the degree to which progress has been made in instituting one, viewed in the light of lessons learnt in the field of financial stability over the past decade.

http://www.euroframe.org/fileadmin/user_upload/euroframe/docs/2009/EUROF09_Davis.pdf

This text would be blue.


Containing system-wide risks: some issues and challenges

by Nigel Jenkinson
2009

This speech sets out a number of high-level objectives that should help guide future research and analysis on the development and design of a framework to strengthen the regulation of system-wide liquidity risks.

http://www.bankofengland.co.uk/publications/speeches/2009/speech388.pdf

This text would be blue.


Global Financial Stability Report

by IMF
2009

The Global Financial Stability Report assesses key risks facing the global financial system with a view to identifying those that represent systemic vulnerabilities. The report seeks to play a role in preventing crises by highlighting policies that may mitigate systemic risk.

http://www.imf.org/external/pubs/ft/gfsr/2009/01/pdf/text.pdf

This text would be blue.


Fool’s Gold: How unrestrained greed corrupted a dream, shattered global markets and unleashed a catastrophe

by Gillian Tett - Little Brown
2009

The Financial Times journalist traces the roots of the crisis back to the invention of credit derivatives by a small team at JP Morgan.

The Independant review

This text would be blue.


The Descent of Finance

by Niall Ferguson - Harvard Business Publishing
2009

The article compares the current recession to the great depression of 1929-1933. It also considers the consequences if the American economy continued to shrink in the future.

http://hbr.harvardbusiness.org/2009/07/the-descent-of-finance/ar/1?cm_re=homepage-061609-_-lede-_-headline

This text would be blue.


Bringing hedge funds into the regulatory mainstream

by Karel Lannoo - Centre for European Policy Studies
2009

European Capital Markets Institute commentary by Karel Lannoo considers the European Commission’s draft rules on hedge funds.

http://shop.ceps.be/downfree.php?item_id=1861

This text would be blue.