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Competition and stability in banking
Banking went from being one of the most regulated sectors in the economy after the crisis in the 1930s to a more lightly regulated sector with the liberalization process that started in the 1970s in the United States. The previous period was marked by few crises with much more instability in the second ...
Toward an operational framework for financial stability: 'fuzzy' measurement and its consequences
Over the last decade or so, addressing financial instability ¿has risen to the top of national and international policy agendas. Policymakers in general and central banks in particular have been allocating increasing resources to the monitoring of potential threats to financial stability and the ...
Central banking after the crisis
By the mid-2000s both academics and central banks had come to a remarkable consensus on what central banks’ basic strategy should be. However with the collapse of Lehman Brothers in September 2008 the world of central banking changed forever. The worldwide financial crisis revealed that some of the ...
Quantitative easing and financial stability
Since the global financial crisis of 2008–09 many of the leading central banks have dramatically increased the size of their balance sheets and have shifted the composition of the assets that they hold toward larger shares of longer-term securities (as well as toward assets that are riskier in other ...