Already Published | FinReg21|Reforming Financial Services Regulation in the 21st Century

This Time is Different: Eight Centuries of Financial Folly

Wednesday 21 October 2009 | Carmen M. Reinhart and Kenneth Rogoff |

Covering sixty-six countries across five continents, This Time Is Different presents a comprehensive look at the varieties of financial crises, and guides us through eight astonishing centuries of government defaults, banking panics, and inflationary spikes--from medieval currency debasements to today's subprime catastrophe.

Editor's Pick:

No

Boulevard of Broken Dreams: Why Public Efforts to Boost Entrepreneurship and Venture Capital Have Failed and What to Do About It

Tuesday 20 October 2009 | Josh Lerner |

As governments worldwide seek to spur economic growth in ever more aggressive ways, Boulevard of Broken Dreams offers an important caution. The book argues for a careful approach to government support of entrepreneurial activities, so that the mistakes of earlier efforts are not repeated.

Editor's Pick:

No

The Road Ahead for the Fed

Wednesday 14 October 2009 | George Shultz, Allan Meltzer, Peter Fisher, Donald Kohn, James Hamilton, John Taylor, Myron Scholes, Darrell Duffie, Andrew Crockett, Michael Halloran, Richard Herring, and John Ciorciari |

The Federal Reserve is the single most important economic policy institution in the United States. Its recent unprecedented actions and interventions have raised serious concerns in many quarters about inflation, as well as the independence and effectiveness of the Fed. In The Road Ahead for the Fed, a group of expert contributors examine the recent actions of the Federal Reserve and discuss how the Fed arrived at this position, how it can best deal with the road ahead, and how it might reduce the likelihood of crisis-driven interventions in the future.

Editor's Pick:

No

From Asian to Global Financial Crisis: An Asian Regulator's View of Unfettered Finance in the 1990s and 2000s

Wednesday 30 September 2009 | Andrew Sheng |

This is a unique insider account of the new world of unfettered finance. The author, an Asian regulator, examines how old mindsets, market fundamentalism, loose monetary policy, carry trade, lax supervision, greed, cronyism, and financial engineering caused both the Asian crisis of the late 1990s and the current global crisis of 2008-2009.

Editor's Pick:

No

Restoring Financial Stability: How to Repair a Failed System

Monday 03 August 2009 | Edited by Viral V. Acharya and Matthew Richardson |

This an excellent book. The faculty of New York University’s Stern School has provided a broad and deep overview of the crisis and made suggestions for how to minimize the chances of a recurrence going forward...Given the view that the basic cause of the crisis was a credit boom that drove a housing bubble, an important question to ask is why did the Federal Reserve do so little to prevent it. The book endorses this criticism. More importantly, it gives very interesting suggestions for trying to limit systemic risk.

Editor's Pick:

No

Managed by the Markets: How Finance Re-Shaped America

Monday 15 June 2009 | Gerald F. Davis |

In recent years, we've been rocked by a series of economic jolts, and all of them seemed to revolve around finance. And the most recent, the American mortgage meltdown, has sent shock waves around the world. Managed by the Markets offers an illuminating account of how finance has replaced manufacturing at the center of the American economy over the past three decades, explaining how the new finance-centered system works, how we got here, and what challenges lay ahead.

Editor's Pick:

No

Foreclosed: High-Risk Lending, Deregulation, and the Undermining of America's Mortgage Market

Monday 01 June 2009 | Dan Immergluck |

The unfortunately timely Foreclosed explains the rise of high-risk lending and why these newer types of loans-and their associated regulatory infrastructure-failed in substantial ways. Dan Immergluck narrates the boom in subprime and exotic loans, recounting how financial innovations and deregulation facilitated excessive risk-taking, and how these loans have harmed different populations and communities.

Understanding Financial Crises

Tuesday 26 May 2009 | Franklin Allen and Douglas Gale |

Based on ten years of research, the authors develop a theoretical approach to analyzing financial crises. Beginning with a review of the history of financial crises and providing readers with the basic economic tools needed to understand the literature, the authors construct a series of increasingly sophisticated models.

Editor's Pick:

No

Bankrupt: Global Lawmaking and Systemic Financial Crisis

Monday 11 May 2009 | Terence Halliday and Bruce Carruthers |

Halliday and Carruthers show how global actors—including the IMF, World Bank, UN, and international professional associations—developed comprehensive norms for corporate bankruptcy laws and how national policymakers responded in turn. Drawing on extensive fieldwork in China, Indonesia and Korea, the authors reveal how national policymakers contested and negotiated domestic laws in the context of global pressures.

The Future of Insurance Regulation in the United States

Sunday 10 May 2009 | Martin F. Grace and Robert W. Klein |

Martin Grace, Robert Klein, and other experts on insurance and financial regulation help policymakers, professionals, and scholars cut through the rhetoric to grasp the implications of different options and the associated facts and issues. "The Future of Insurance Regulation" enhances research and informs the debate on restructuring the framework for insurance regulation in the United States.