Policy-related
pieces and teaching resources
Squam Lake Working
Group Memos (on
a systemic regulator) (on
the resolution of distressed financial institutions) (on
reform of capital requirements) (on
the information infrastructure for financial markets) (on
credit default swaps clearing houses and exchanges) (on
the regulation of retirement savings)
Vox EU articles (on bank dividends
during crises) (on
securitization and financial stability) (on endogenous risk) (on macroprudential financial
regulation) (audio interview for
Vox on securitisation and marking to market)
Geneva Report on the
World Economy 11: The Fundamental
Principles of Financial Regulation (with Markus Brunnermeier Andrew Crockett Charles Goodhart and Avinash Persaud), June
2009 (conference version)
(VoxEU page) (link to final
version)
Studienzentrum
Gerzensee newsletter (link
to newsletter), interview with Dirk Niepelt on leverage, capital markets
and monetary policy
Fair Value Accounting
and Financial Stability (with Haresh
Sapra and Guillaume Plantin),
Financial Stability Review, Banque de France, October 2008 (English version)(French version)
(audio interview for Vox on
securitisation and marking to market)
Leveraged Losses: Lessons from the Mortgage Market Meltdown (with David
Greenlaw, Jan
Hatzius and Anil
Kashyap) US
Monetary Policy Forum Report No. 2
(2008) (some
press comment)
Liquidity and Financial
Contagion (with Tobias
Adrian) Financial Stability Review, Banque de France, February 2008
(English version)(French version)
Liquidity, Monetary Policy
and Financial Cycles (with Tobias
Adrian) Federal Reserve Bank of New York, Current Issues in Economics and Finance, volume 14 number 1 (link to
paper on FRBNY site)
Coordinating
Expectations in Monetary Policy (with Stephen
Morris) (pdf
file) paper presented at the Centre
Cournot conference “Central Banks as Economic Institutions”
Central Bank
Transparency and the Signal Value of Prices (with Stephen Morris) (pdf file) (powerpoint slides) Brookings Papers on Economic Activity,
Issue 2, 2005, 1 – 66.
Discussion of Raghu
Rajan’s paper “Has Financial Development Made the World Riskier?” at the
Federal Reserve Bank of Kansas City Economic Symposium at Jackson Hole, August
2005 (link to
discussion on the Jackson Hole Symposium website) (BBC
news page on the Millennium Bridge)
Marking to Market,
Liquidity and Financial Stability (with Haresh Sapra and Guillaume Plantin) paper
for the 12th International Conference, Bank of Japan, 2005 (link
to paper on Bank of Japan site) (powerpoint presentation)
Financial System
Liquidity, Asset Prices and Monetary Policy, paper for the 2005
Reserve Bank of
Derivatives Accounting
and Risk Management: Key Concepts and the Impact of IAS 39 (editor), Risk Books,
2004, (link to
introduction) (link
to Risk Books site).
Transparency and
Financial Stability (with Prasanna Gai), Financial Stability Review,
Bank of England, December 2003 (link
to paper on the Bank of England site).
Liquidity and Twin
Crises, Economic Notes by Banca Monte dei Paschi di Siena, 34(3),
257-277, 2005 (pdf file)
(powerpoint presentation)
Endogenous Risk (with Jon
Danielsson) in Modern Risk Management: A History, Risk Books,
2003 (pdf file) (link
to BBC news page on the Millennium Bridge)
Communication and
Monetary Policy (with Jeffery Amato and Stephen Morris) Oxford Review of Economic
Policy, 18 (4) 495-503, Winter 2002 (pdf file) (BIS working paper version) (powerpoint file for 2005 AEA
session) (comment
by Lars Svensson) (reply by Morris, Shin
and Tong) (Brookings
Papers article on transparency by Morris and Shin) (Guardian
June 16th 2003) (Economist
magazine July 22nd 2004).
Games and Coordination (with David
Myatt and Christopher Wallace) Oxford Review of Economic Policy, 18 (4)
1 - 20, Winter 2002 (pdf
file)
Positive Feedback
Trading in the US Treasury Market (with Benjamin Cohen) (pdf file) BIS Quarterly Review, June 2002, 59 –
67 (2002)
An Academic Response to
Rethinking Multiple Equilibria in Macroeconomic
Modelling (with Stephen Morris)
(pdf file) NBER
Macroeconomics Annual 2000, 139 - 161, MIT Press, 2001
Risk Management with Interdependent Choice (with Stephen Morris) (link to paper on Bank of
England site) Oxford Review of Economic Policy,
15, 52-62 Autumn (1999), reprinted in the Financial Stability Review,
Bank of England, November 1999
Approximate Common Knowledge and Coordination: Some Lessons from Game Theory (with Stephen Morris) Journal of
Logic, Language and Information, 6, 171-190 (1997)(PDF file)