[DOWNLOAD] "Preventing Bubbles: What Role for Financial Regulation?" by The Cato Journal * eBook PDF Kindle ePub Free

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eBook details

• Title: Preventing Bubbles: What Role for Financial Regulation?
• Author : The Cato Journal
• Release Date : January 22, 2011
• Genre: Politics & Current Events,Books,
• Pages : * pages
• Size : 257 KB

Description

It is now quite clear that the U.S. economy went through a massive housing bubble, starting in the late 1990s and lasting through mid 2006. The inflating of that bubble was encouraged, to a considerable extent, by the expansion and especially the securitization of residential mortgage finance. The housing bubble, in turn, reinforced that mortgage expansion and securitization. The deflating of the housing bubble has had severe negative consequences: first, for the U.S. financial sector (which had both created and invested in the mortgage securitization instruments) and, subsequently, for the overall U.S. economy. Given these severe consequences, it is surely no surprise that there have been calls for policymakers to prevent future asset price bubbles-through the better exercise of monetary policy and financial regulatory policy.

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