Federal Reserve Bank of New York
Economic Policy Review
Solving the present crisis and managing the leverage cycle
Yale University professor John Geanakoplos discusses implications of “the leverage cycle”—a phenomenon in which leverage is excessive prior to a financial crisis and unacceptably low during the crisis—for regulatory policy and reform. Presented as the keynote address at "Central Bank Liquidity Tools and Perspectives on Regulatory Reform" a conference sponsored by the Federal Reserve Bank of New York, February 19-20, 2009.
Cite this item
John Geanakoplos, "Solving the present crisis and managing the leverage cycle"
, Federal Reserve Bank of New York, Economic Policy Review, issue Aug, pages 101-131, 2010.
Keywords: Financial market regulatory reform ; Assets (Accounting) ; Investments ; Equilibrium (Economics) ; Financial crises ; Housing - Prices ; Swaps (Finance) ; Default (Finance) ; Uncertainty ; Federal Reserve System
This item with handle RePEc:fip:fednep:y:2010:i:aug:p:101-131:n:v.16no.1
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