Policy-related pieces and teaching resources
Discussion of Raghu
Rajan’s paper “Has Financial Development Made the World Riskier?” at the
Federal Reserve Bank of Kansas City Economic Symposium at Jackson Hole, August
2005 (link to
discussion on the Jackson Hole Symposium website) (some
press comment) (BBC
news page on the Millennium Bridge)
Marking to Market,
Liquidity and Financial Stability (with Haresh Sapra and Guillaume
Plantin) paper for the 12th International Conference, Bank of Japan,
2005 (link
to paper on Bank of Japan site) (powerpoint presentation)
Financial System
Liquidity, Asset Prices and Monetary Policy, paper for the 2005 Reserve Bank of
Australia annual conference (link
to paper on RBA site) (powerpoint presentation)
(some press
comment)
Derivatives
Accounting and Risk Management: Key Concepts and the Impact of IAS
39 (editor), Risk Books, 2004,
(link to
introduction) (link
to Risk Books site).
Transparency and
Financial Stability (with Prasanna Gai), Financial Stability Review, Bank
of England, December 2003 (link
to paper on the Bank of England site).
Liquidity and Twin
Crises, Economic Notes by Banca Monte dei Paschi di Siena, 34(3),
257-277, 2005 (pdf
file) (powerpoint
presentation)
Endogenous Risk
(with Jon
Danielsson) in Modern Risk Management: A History, Risk Books,
2003 (pdf
file) (link
to BBC news page on the Millennium Bridge)
Communication and
Monetary Policy (with Jeffery Amato and Stephen Morris) Oxford Review of
Economic Policy, 18 (4) 495-503, Winter 2002 (pdf file) (powerpoint file for
2005 AEA session) (comment
by Lars Svensson) (reply by
Morris, Shin and Tong) (Brookings
Papers article on transparency by Morris and Shin) (Guardian
June 16th 2003) (Economist
magazine July 22nd 2004).
Games and Coordination
(with David Myatt and Christopher Wallace) Oxford Review of Economic Policy,
18 (4) 1 - 20, Winter 2002 (pdf file)
An Academic Response
to Basel II (with Jon Danielsson, Paul Embrechts, Charles Goodhart, Felix
Muennich, Con Keating and Olivier Renault) Financial Markets Group Special
Paper 130, 2001 (pdf
file)
Rethinking Multiple
Equilibria in Macroeconomic Modelling (with Stephen Morris) (PDFfile) (Abstract) NBER
Macroeconomics Annual 2000, 139 - 161, MIT Press, 2001.
Risk Management with
Interdependent Choice (with Stephen Morris) Oxford Review of Economic Policy,
15, 52-62 Autumn (1999), reprinted in the Financial Stability Review,
Bank of England, November 1999 (link
to paper on Bank of England site).
Approximate Common
Knowledge and Coordination: Some Lessons from Game Theory (with Stephen Morris)
Journal of Logic, Language and Information, 6, 171-190 (1997) (PDF file)