Suchergebnisse

Introduction Measurement and Aggregation Aggregate Supply and demand in an Open Economy The Phillips Curve Regional and Sectoral Concerns Output, Unemployment and the Labour Market: The Okun Curve Asymmetry and the Role of the Public Sector Monetary Policy Fiscal Responses References

Identities : a challenge for the EU / David G Mayes -- The challenge of co-existence : Islam and Europe in the twenty-first century / Barrie Wharton -- All happily gathered together around their colonial campfires : a nineteenth-century Polish traveller's observations on some European colonising nationalities in the Antipodes / Sarah Cozens -- In their own voices : indigenous Pacific writers writing sexual violence and the challenge for Europe / Raylene Ramsay -- Language policies and their implementation regarding regional and minority languages in the European Union : the case of the Sardinian languages / Franco Manai -- Border blues : a socioeconomic needs assessment of Ukrainian economic migrants post Poland's European Union accession / Amanda J. Laichak -- The European connection with Tonga / James Bade -- Gunter Grass and the politics of the past--and present : the "Grass-Debate" of 2006 / James Braund -- Equality as reciprocity : Kieslowski's cinema lesson for the new Europe / Deborah Walker -- Perceptions of European Union member state diplomats : the potential impact of the EEAS in New Zealand / Serena Kelly -- Multicultural histories of European globalisation by Fernandez-Armesto : from colonial to postcolonial shifts in cultural centres and peripheries / Roberto Gonzalez-Casanovas

This article describes thinking on the institutions of financial supervision and regulation prior to the current crisis and goes on to examine what lessons have been learnt subsequently. It concludes that the problem is not so much that central banks needed to be more closely involved in supervision at the outset but that many countries did not have satisfactory schemes in place for resolving problems in large institutions. Central banks and governments were then forced into ad hoc measures that could have unfortunate implications for moral hazard in the future unless fundamental problems are addressed.

The current financial crisis has sparked intense debate about how weak banks should be resolved. Despite international efforts to coordinate and converge on such policies, national policy advice and resolution practices differ. The resolution methods adopted in the Nordic banking crises in the 1990s are generally acknowledged to include important elements of best practice". But some of these lessons have proved hard to implement during the current crisis, and new policies have been developed as a response, particularly in the UK. Still, unresolved issues remain. These are discussed in a review of the resolution methods in the US, UK and NZ.

The current financial crisis has sparked an intense debate about how weak banks should be resolved. Despite international efforts to coordinate and converge on such policies, national policy advice and resolution practices differ. The resolution methods adopted in the Nordic banking crises in the 1990s are generally acknowledged to include important elements of "best practice". But some of these lessons have proved hard to implement during the current crisis, and new policies have been developed as a response. The UK Special Resolution Regime has added important elements to the resolution "tool kit". In the US, FDIC has used receivership powers to resolve several weak banks. Other countries have also introduced new resolution legislation. Still, unresolved issues remain. These are discussed below in the context of a review of the resolution methods in the US, UK, NZ and Scandinavia.