Bonuses, irrationality, and too bigness : the conventional wisdom about the financial crisis and its theoretical implications -- Capital adequacy regulations and the financial crisis : bankers' and regulators' errors -- The interaction of regulations and the great recession : fetishizing market prices -- Capitalism and regulation : ignorance, heterogeneity, and systemic risk
Summary
This study examines the role of the Basel Accords--a set of international standards regulating bank capital--in the global financial crisis. It argues that because the accords were so widely adopted, they effectively homogenized the banking industry, increasing the systemic risk they were intended to prevent
Bibliography
Includes bibliographical references (pages 175-200) and index
