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001			198383
003			IT-RoAPU
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008			220424t20112012pau fo d z eng d
019			_a(OCoLC)979578140
020			_a9780812243574 _qprint
020			_a9780812205077 _qPDF
024	7		_a10.9783/9780812205077 _2doi
035			_a(DE-B1597)9780812205077
035			_a(DE-B1597)449449
035			_a(OCoLC)824522207
040			_aDE-B1597 _beng _cDE-B1597 _erda
050		4	_aHB3717 2008 ǂb F75 2011eb
072		7	_aBUS079000 _2bisacsh
082	0	4	_a330.90511
084			_aonline - DeGruyter
100	1		_aFriedman, Jeffrey _eautore
245	1	0	_aEngineering the Financial Crisis : _bSystemic Risk and the Failure of Regulation / _cWladimir Kraus, Jeffrey Friedman.
264		1	_aPhiladelphia : _bUniversity of Pennsylvania Press, _c[2011]
264		4	_c©2012
300			_a1 online resource (224 p.) : _b13 illus.
336			_atext _btxt _2rdacontent
337			_acomputer _bc _2rdamedia
338			_aonline resource _bcr _2rdacarrier
347			_atext file _bPDF _2rda
505	0	0	_tFrontmatter -- _tCONTENTS -- _tList of Figures and Tables -- _tGlossary of Abbreviations and Acronyms -- _tIntroduction -- _t1. Bonuses, Irrationality, and Too-Bigness: The Conventional Wisdom About the Financial Crisis and Its Theoretical Implications -- _t2. Capital Adequacy Regulations and the Financial Crisis: Bankers' and Regulators' Errors -- _t3. The Interaction of Regulations and the Great Recession: Fetishizing Market Prices -- _t4. Capitalism and Regulation: Ignorance, Heterogeneity, and Systemic Risk -- _tConclusion -- _tAppendix I. Scholarship About the Corporate-Compensation Hypothesis -- _tAppendix II. The Basel Rules off the Balance Sheet -- _tNotes -- _tReferences -- _tIndex -- _tAcknowledgments
506	0		_arestricted access _uhttp://purl.org/coar/access_right/c_16ec _fonline access with authorization _2star
520			_aThe financial crisis has been blamed on reckless bankers, irrational exuberance, government support of mortgages for the poor, financial deregulation, and expansionary monetary policy. Specialists in banking, however, tell a story with less emotional resonance but a better correspondence to the evidence: the crisis was sparked by the international regulatory accords on bank capital levels, the Basel Accords.In one of the first studies critically to examine the Basel Accords, Engineering the Financial Crisis reveals the crucial role that bank capital requirements and other government regulations played in the recent financial crisis. Jeffrey Friedman and Wladimir Kraus argue that by encouraging banks to invest in highly rated mortgage-backed bonds, the Basel Accords created an overconcentration of risk in the banking industry. In addition, accounting regulations required banks to reduce lending if the temporary market value of these bonds declined, as they did in 2007 and 2008 during the panic over subprime mortgage defaults.The book begins by assessing leading theories about the crisis-deregulation, bank compensation practices, excessive leverage, "too big to fail," and Fannie Mae and Freddie Mac-and, through careful evidentiary scrutiny, debunks much of the conventional wisdom about what went wrong. It then discusses the Basel Accords and how they contributed to systemic risk. Finally, it presents an analysis of social-science expertise and the fallibility of economists and regulators. Engagingly written, theoretically inventive, yet empirically grounded, Engineering the Financial Crisis is a timely examination of the unintended-and sometimes disastrous-effects of regulation on complex economies.
530			_aIssued also in print.
538			_aMode of access: Internet via World Wide Web.
546			_aIn English.
588	0		_aDescription based on online resource; title from PDF title page (publisher's Web site, viewed 24. Apr 2022)
650		0	_aBank capital -- Law and legislation.
650		0	_aBank capital _xLaw and legislation.
650		0	_aBanks and banking -- Risk management.
650		0	_aBanks and banking _xRisk management.
650		0	_aBasel II -- (2004).
650		0	_aBasle Accord -- (1988).
650		0	_aEconomics -- Political aspects.
650		0	_aEconomics _xPolitical aspects.
650		0	_aFinancial crises -- United States -- History -- 21st century.
650		0	_aGlobal Financial Crisis, 2008-2009.
650		4	_aPolitical Science.
650		7	_aBUSINESS & ECONOMICS / Government & Business. _2bisacsh
653			_aBusiness.
653			_aEconomics.
653			_aPolitical Science.
653			_aPublic Policy.
700	1		_aKraus, Wladimir _eautore
850			_aIT-RoAPU
856	4	0	_uhttps://doi.org/10.9783/9780812205077
856	4	0	_uhttps://www.degruyter.com/isbn/9780812205077
856	4	2	_3Cover _uhttps://www.degruyter.com/document/cover/isbn/9780812205077/original
942			_cEB
999			_c198383 _d198383