G28 - Government Policy and Regulation

• Do Low Interest Rates Sow the Seeds of Financial Crises?

  Staff Working Paper 2011-31 Simona Cociuba, Malik Shukayev, Alexander Ueberfeldt

  A view advanced in the aftermath of the late-2000s financial crisis is that lower than optimal interest rates lead to excessive risk taking by financial intermediaries.

  Content Type(s): Staff research, Staff working papers Research Topic(s): Financial system regulation and policies, Monetary policy transmission JEL Code(s): D, D5, D53, E, E4, E44, E5, E52, G, G2, G28

• Analyzing Default Risk and Liquidity Demand during a Financial Crisis: The Case of Canada

  Staff Working Paper 2011-17 Jason Allen, Ali Hortaçsu, Jakub Kastl

  This paper explores the reliability of using prices of credit default swap contracts (CDS) as indicators of default probabilities during the 2007/2008 financial crisis.

  Content Type(s): Staff research, Staff working papers Research Topic(s): Financial institutions, Financial markets, Payment clearing and settlement systems JEL Code(s): E, E4, E42, E5, E58, G, G0, G01, G2, G28

• Lessons from International Central Counterparties: Benchmarking and Analysis

  Staff Discussion Paper 2011-4 Alexandre Lazarow

  Since the financial crisis, attention has focused on central counterparties (CCPs) as a solution to systemic risk for a variety of financial markets, ranging from repurchase agreements and options to swaps.

  Content Type(s): Staff research, Staff discussion papers Research Topic(s): Financial markets, Financial stability, Financial system regulation and policies, Payment clearing and settlement systems JEL Code(s): G, G0, G01, G1, G14, G18, G2, G28, G3, G38