Willkommen, schön sind Sie da!
Logo Ex Libris

Banking Union as a Shock Absorber

  • E-Book (epub)
  • 98 Seiten
(0) Erste Bewertung abgeben
Alle Bewertungen ansehen
The Great Financial Crisis, which started in 2007-08, was originally called the 'sub-prime' crisis because its origins could be t... Weiterlesen
E-Books ganz einfach mit der kostenlosen Ex Libris-Reader-App lesen. Hier erhalten Sie Ihren Download-Link.
CHF 24.90
Download steht sofort bereit
Informationen zu E-Books
E-Books eignen sich auch für mobile Geräte (sehen Sie dazu die Anleitungen).
E-Books von Ex Libris sind mit Adobe DRM kopiergeschützt: Erfahren Sie mehr.
Weitere Informationen finden Sie hier.


The Great Financial Crisis, which started in 2007-08, was originally called the 'sub-prime' crisis because its origins could be traced to excessive lending in the real estate sector in the US, concentrated mostly in sunbelt states like Nevada, Florida and California. There were similar pockets of excess lending for housing in Europe, notably in Ireland and Spain. But a key difference emerged later: in Ireland and Spain, the local banking systems almost collapsed and the governments experienced severe financial stress with large macroeconomic costs. Nothing similar happened in the US. The local financial system remained fully functional and the local governments did not experience increased financial stress in the states with the biggest real estate booms, like Nevada or Florida. This book illustrates how the structure of the US banking market and the existence of federal institutions allowed regional financial shocks to be absorbed at the federal level in the US, thus avoiding local financial crisis. The authors argue that the experience of the US shows the importance of a 'banking union' to avoid severe regional (national) financial dislocation in the wake of regional boom and bust cycles. They also discuss the extent to which the institutions of the partial banking union, now in the process of being created for the euro area, should be able to increase its capacity to deal with future regional boom and bust cycles, thereby stabilising the single currency.


Daniel Gros is Director of the Centre for European Policy Studies, Brussels.


Foreword / Introduction / 1. The Macroeconomic stabilization properties of a banking union: Case studies / 2. Foreign-owned banks: A banking union sustitute? The EU experience / 3. Who pays for the shock absorbers? / 4. Fiscal union and financial shock absorbers / Conclusion


Titel: Banking Union as a Shock Absorber
Untertitel: Lessons for the Eurozone from the US
EAN: 9781783485963
ISBN: 978-1-78348-596-3
Digitaler Kopierschutz: Adobe-DRM
Format: E-Book (epub)
Herausgeber: Rowman & Littlefield International
Genre: Wirtschaft
Anzahl Seiten: 98
Veröffentlichung: 16.12.2015
Jahr: 2015
Auflage: 1. Auflage
Untertitel: Englisch
Dateigrösse: 2.7 MB