Arbeitspapier
The Transatlantic Banking Crisis: Lessons and EU Reforms
The key dynamics of the transatlantic banking crisis are analyzed with emphasis on the fact that the banking disaster of 2007/08 was not really a surprise , and the five key requirements for restoring stability and efficiency in the EU/OECD banking sector are highlighted. Most important, however, is the introduction of a new tax regime designed to encourage bankers to take a more long term time horizon in decision-making and to reduce excessive risk-taking. Banks and funds should be taxed not only on the basis of profits but also on the basis of the variability read variance of the rate of return on equity: the higher the variability over time the higher the tax to be paid. The quality and comprehensiveness of banks balance sheets must be radically improved and all off-balance sheet activities must be included in future total balance sheets. The medium term structure of employment in terms of the breakdown nontradables/tradables will have to adjust.
- Language
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Englisch
- Bibliographic citation
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Series: IZA Policy Paper ; No. 2
- Classification
-
Wirtschaft
Monetary Policy, Central Banking, and the Supply of Money and Credit: General
Global Outlook
International Finance: General
Financial Crises
- Subject
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banking
financial market reforms
globalization
USA
Bankenkrise
Bankenreform
EU-Staaten
USA
Finanzkrise
Bankenkrise
Wirtschaftskrise
Wirtschaftspolitik
Deutschland
EU-Staaten
Welt
- Event
-
Geistige Schöpfung
- (who)
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Welfens, Paul J. J.
- Event
-
Veröffentlichung
- (who)
-
Institute for the Study of Labor (IZA)
- (where)
-
Bonn
- (when)
-
2009
- Handle
- Last update
-
10.03.2025, 11:42 AM CET
Data provider
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Welfens, Paul J. J.
- Institute for the Study of Labor (IZA)
Time of origin
- 2009
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