haku: @author Rajan, R.G. / yhteensä: 3
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| Tekijä: | Rajan, R.G. |
| Otsikko: | Has finance made the world riskier? |
| Lehti: | European Financial Management
2006 : SEP, VOL. 12:4, p. 499-533 |
| Asiasana: | finance monetary policy derivative securities markets risk management |
| Kieli: | eng |
| Tiivistelmä: | Financial sector's development enables an expansion of spreading risks. However, there is also the emergence of a whole range of intermediaries, whose size and appetite for risk may expand over the cycle. As a result, under some conditions, economies may be more exposed to financial sector-induced turmoil. This paper discusses the implications for monetary policy and prudential supervision. Especially, it suggests market-friendly policies that would reduce the incentive of intermediary managers to take excessive risk. |
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