The Crash of 2008 is often blamed on the Fed’s overly ‘loose’ monetary policy after 2001 (see Taylor, 2009, 2010). In short, the argument goes, American monetary policy was too ‘loose’ for four years between 2002 and 2006; and too ‘tight’ once the Fed realised that it was presiding...

The paper addresses numerous factors which generated and transmitted the 2007-2009 financial crisis, with the special attention paid to phenomena observed in the subprime mortgages and MBSs markets. The aim of the paper is to provide a critical survey which systematically examine the literature...

Most mainstream neoclassical economists completely failed to anticipate the crisis which broke in 2007 and 2008. There is however a long tradition of economic analysis which emphasises how growth in a capitalist economy leads to an accumulation of tensions and results in periodic crises. This...

The paper aims at short synthesis of the Polish regulatory framework referring to the financial sector with special attention paid to the banking system. We describe origins of the financial regulations in Poland, as well as their further evolution. Then, in the context of changes in the EU...

The evolution of the Italian regulatory system is based on five basic principles: (i) maintenance of trust in the financial system; (ii) investors protection; (iii) stability and wellfunctioning of the financial system; (iv) financial system competitiveness; (v) compliance of financial rules....

The paper is looking at the historical development of financial regulation in Germany. It is part of a series of papers that outline the development of financial regulation in other European countries such as France, Italy, Estonia, Slovenia, Hungary and Spain, and culminates in a synthesis...

The paper uses the systems of provision (sop) approach to analyse the transformed presence of finance in the UK housing sop since the 1980s. ‘Sop’ analyses look at the integrated chain of agents involved in providing a good and the structures and processes through which they relate to each...

This contribution attempts to explain the recent financial crisis and the subsequent Great Recession from the point of view of incentives that change as a consequence of securitization and contagion processes. It provides a critical analysis of the basic principles of the Asymmetric Information...

This paper analyses the regulatory framework of the financial system in Spain. Particular attention is paid to the adoption of the EU directives and the way they have been transposed to Spain from 1986 to present, including the regulatory developments in the last few years from the onset of the...

Commodity currencies have been stood against fiat money in the discourses on the history of money, implying a development from primitive forms of money – which needed anchor in a real commodity to gain acceptance, for instance gold, silver or copper – to a more sophisticated monetary regime...