The Financial Turmoil of 2007-?: A Preliminary Assessment and Some Policy Considerations

By C. Borio. 2008

263 citations recorded by the source corpus.

Subfields: Finance

View Paper: https://www.semanticscholar.org/paper/2fe7080324dc65fd9e0f664caca0acf34338ceb2

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Citations in the corpus

Why Do (or Did?) Banks Securitize Their Loans? Evidence from Italy (2010, background): “Some authors effectively view regulatory capital arbitrage as opportunistic behaviour that arises only if there is a malicious intent (e.g. Jackson et al., 1999; Jones, 2000; Jobst, 2005; FSF, 2008; BIS, 2008; Borio, 2008).”
The Great Recession: US dynamics and spillovers to the world economy (2012, unknown): “…is worthwhile noting that the ﬁ nancial fragility index used in this paper shares some of the properties of the leading indicator for an incoming bust phase proposed by Borio (2008), which exploits the joint occurrence of rapid credit growth and higher risk taking, but not increasing asset prices.”
Operationalising the Countercyclical Capital Buffer: Indicator Selection, Threshold Identification and Calibration Options (2014, methodology): “…indicators for banking crises (Demirgüç-Kunt and Detragiache, 1998), “twin” banking and currency crises (Kaminsky and Reinhart, 1999) and asset price boom-bust cycles and the role of global liquidity factors (see Borio, 2008; Alessi and Detken, 2011; and Eickmeier, Gambacorta and Hofmann, 2013).”
Financial Crises, Credit Booms, and External Imbalances: 140 Years of Lessons (2011, unknown): “…flaws in the reigning doctrine of inflation targeting have been pointed out with reference to its nonessential role for money and its neglect of distortions and instabilities arising from bank (or nonbank) credit channels (Borio and White 2003; Goodhart 2007; Borio, 2008; Christiano et al. 2010).”
Credit Booms Gone Bust: Monetary Policy, Leverage Cycles and Financial Crises, 1870-2008 (2012, unknown): “…of criticism notes that in most financial-accelerator models, credit is largely passive—a propagator of shocks, not an independent source of shocks (Borio 2008; Hume and Sentance 2009).3 By contrast, in other classes of models, multiple equilibria or feedback effects are possible (Bernanke and…”
What Determines Euro Area Bank CDS Spreads (2010, background): “Acknowledging significant strains on smaller US subprime lenders in February and March 2007, we follow Borio (2008) in recognizing the filing for Chapter 11 bankruptcy of New Century Financial Corporation, the second largest US subprime lender, on 2 April 2007 as the first major subprime crisis…”