Table of Contents
Special Addresses: The (Changing) Role of Central Banks in Financial Stability Policies (Peter Praet); The Role of Central Banks in Financial Stability: How Has It Changed? (Willem H Buiter); Pursuing Financial Stability at the Federal Reserve (Janet L Yellen); The Role of Central Banks in Financial Stability: Historical Review and Critique: Financial Stability: Lessons Learned from the Recent Crisis and Implications for the Federal Reserve (Nellie Liang); Role of Central Banks in Financial Stability: Lessons from the Experience of the Bank of Japan (Takeo Hoshi); Overcoming the Fear of Free Falling: Monetary Policy Graduation in Emerging Markets (Carlos A Vegh and Guillermo Vuletin); Can We Identify the Financial Cycle? (Mathias Drehmann, Claudio Borio and Kostas Tsatsaronis); Central Banks and Asset Price Bubbles: Low Interest Rates and Housing Bubbles: Still No Smoking Gun (Kenneth N Kuttner); Classic FIT and Lean FIT: Is Inflation-Targeting Guilty of Causing the Financial Instability of 2007-2009? (Takatoshi Ito); Current, Past, and Potential Future Threats to Financial Stability: Bank Capital Regulations: Learning the Right Lessons from the Crisis (Asli Demirgüç-Kunt); International Monetary Reform: Exchange Rates or Interest Rates? (Ronald McKinnon); Threats to Financial Stability in Emerging Markets: The New and Very Active Role of Central Banks (Liliana Rojas-Suarez); The Social Productivity of the Financial Sector: In Defense of Wall Street: The Social Productivity of the Financial System (Ross Levine); Output Growth Variability: The Role of Financial Markets (Alexander Popov); Occupying the Wrong Street? The Social Productivity of the Financial Sector: Some Comments (Gerard Caprio, Jr.); Open Issues in the Regulatory Debate: Failure Resolutions, Bailouts, Moral Hazard, and Market Discipline: Bankers and Brokers First: Loose Ends in the Theory of Central Bank Policymaking (Edward J Kane); The Elusive Scale Economies of the Largest Banks and Their Implications for Global Competitiveness (Joseph P Hughes); The Ex Ante versus Ex Post Effect of Public Guarantees (Evren Damar, Reint Gropp and Adi Mordel); Real and Imaginary Resolution Options for Large Financial Institutions (David A Skeel, Jr.); Policy Panel: Where to from Here?: Is Our Economy's Financial Sector Worth What It Costs Us? (Benjamin M Friedman); The Eurozone Crisis: Causes, Remedy, and Misperceptions (Richard C Koo); Macroprudential and Monetary Policies (Frederic S Mishkin); The Eurozone Crisis (Richard Portes); The Way Forward Central Banks with Financial Stability Mandates: The Case of the Eurosystem (Anne Sibert).