financial crises

Publication date: 2 Aug 2017 | Publication type: National Institute Economic Review | Theme: Macroeconomics | External authors: Barwell, R | JEL classification: D78, E58, E61, G18 | Journal: National Institute Economic Review Issue 241 | Publisher: Sage Publications, London
Economists understand that a fit for purpose policy regime requires a reliable general equilibrium model of the system in question and a well specified description of the objectives that the policymaker is trying to pursue. The current financial stability regime has neither and without these...
Publication date: 3 Feb 2016 | Publication type: National Institute Economic Review | External authors: Barth, J R, Wihlborg, C | JEL classification: G18, G21, G28 | Journal: National Institute Economic Review Issue 235 | Publisher: Sage Publications, London
‘Too big to fail’ traditionally refers to a bank that is perceived to generate unacceptable risk to the banking system and indirectly to the economy as a whole if it were to default and be unable to fulfill its obligations. Such a bank generally has substantial liabilities to other banks through...
Publication date: 29 Oct 2013 | Publication type: NIESR Discussion Paper | Theme: Exiting the EU & Britain after Brexit | Authors: Armstrong, A, Ebell, M | NIESR discussion paper number: 415
This paper considers which currency option would be best for an independent Scotland. We examine three currency options: being part of a sterling currency union, adopting the euro, or having an independent currency. No currency option is the best when considered against all criteria. Therefore,...