The Subprime Crisis and the Global Public Policy Response
Autor(a) principal: | |
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Data de Publicação: | 2013 |
Outros Autores: | |
Tipo de documento: | Artigo |
Idioma: | eng |
Título da fonte: | Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
Texto Completo: | http://hdl.handle.net/10071/5314 |
Resumo: | In this paper, we look at the root causes of the 2007-2009 subprime financial crisis and its consequences. We then examine the way public authorities responded to the crisis. We emphasize the fact that, from the start, public policy developed along two complementary, but distinct, lines: (i) short term macroeconomic management; (ii) medium to long term reshaping of the financial regulation framework. We point out that the decision process occurred as a global approach instead of having worked at the national level; and we mention the details of this process. Finally we examine the detailed measures concerning required capital ratios, bank liquidity and bank leverage requirements, transparency measures and bankers bonuses proposals. JEL Classification: E32, E58, E62, G38 |
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The Subprime Crisis and the Global Public Policy ResponseSubprime financial crisis;macroeconomic policy;financial regulation.In this paper, we look at the root causes of the 2007-2009 subprime financial crisis and its consequences. We then examine the way public authorities responded to the crisis. We emphasize the fact that, from the start, public policy developed along two complementary, but distinct, lines: (i) short term macroeconomic management; (ii) medium to long term reshaping of the financial regulation framework. We point out that the decision process occurred as a global approach instead of having worked at the national level; and we mention the details of this process. Finally we examine the detailed measures concerning required capital ratios, bank liquidity and bank leverage requirements, transparency measures and bankers bonuses proposals. JEL Classification: E32, E58, E62, G382013-07-12T09:14:44Z2013-07-12T00:00:00Z2013-07-12info:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleapplication/pdfhttp://hdl.handle.net/10071/5314engLeão, E. R.Leão, P.R.info:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2023-11-09T17:31:15Zoai:repositorio.iscte-iul.pt:10071/5314Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-19T22:14:02.971543Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse |
dc.title.none.fl_str_mv |
The Subprime Crisis and the Global Public Policy Response |
title |
The Subprime Crisis and the Global Public Policy Response |
spellingShingle |
The Subprime Crisis and the Global Public Policy Response Leão, E. R. Subprime financial crisis; macroeconomic policy; financial regulation. |
title_short |
The Subprime Crisis and the Global Public Policy Response |
title_full |
The Subprime Crisis and the Global Public Policy Response |
title_fullStr |
The Subprime Crisis and the Global Public Policy Response |
title_full_unstemmed |
The Subprime Crisis and the Global Public Policy Response |
title_sort |
The Subprime Crisis and the Global Public Policy Response |
author |
Leão, E. R. |
author_facet |
Leão, E. R. Leão, P.R. |
author_role |
author |
author2 |
Leão, P.R. |
author2_role |
author |
dc.contributor.author.fl_str_mv |
Leão, E. R. Leão, P.R. |
dc.subject.por.fl_str_mv |
Subprime financial crisis; macroeconomic policy; financial regulation. |
topic |
Subprime financial crisis; macroeconomic policy; financial regulation. |
description |
In this paper, we look at the root causes of the 2007-2009 subprime financial crisis and its consequences. We then examine the way public authorities responded to the crisis. We emphasize the fact that, from the start, public policy developed along two complementary, but distinct, lines: (i) short term macroeconomic management; (ii) medium to long term reshaping of the financial regulation framework. We point out that the decision process occurred as a global approach instead of having worked at the national level; and we mention the details of this process. Finally we examine the detailed measures concerning required capital ratios, bank liquidity and bank leverage requirements, transparency measures and bankers bonuses proposals. JEL Classification: E32, E58, E62, G38 |
publishDate |
2013 |
dc.date.none.fl_str_mv |
2013-07-12T09:14:44Z 2013-07-12T00:00:00Z 2013-07-12 |
dc.type.status.fl_str_mv |
info:eu-repo/semantics/publishedVersion |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/article |
format |
article |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
http://hdl.handle.net/10071/5314 |
url |
http://hdl.handle.net/10071/5314 |
dc.language.iso.fl_str_mv |
eng |
language |
eng |
dc.rights.driver.fl_str_mv |
info:eu-repo/semantics/openAccess |
eu_rights_str_mv |
openAccess |
dc.format.none.fl_str_mv |
application/pdf |
dc.source.none.fl_str_mv |
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Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
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RCAAP |
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RCAAP |
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Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
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Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
repository.name.fl_str_mv |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
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1799134697493626880 |