financial regulation

Regulatory failure and regulatory change in the banking sector

"In this short note I make some simple points about what went wrong with regulation of financial institutions before the financial disasters of 2007–8 and what has happened – and what should have happened – since. The problems were largely with banks and so most of what I will say is about them. I will make some general points, but at times I will say things that are somewhat more specific to the UK."

How should policy respond to the credit bust?

The August 2013 issue of the National Institute Economic Review, published on August 2nd, brings together new research by leading economists on the credit cycle - the expansion and contraction of access to credit over the course of the economic cycle. This is arguably the key challenge facing most major economies at present. The authors’ offer an enlightening menu of reforms – contrasting in some cases with the current UK approach.