Estonia - financial instability course

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Course on Financial Instability, Estonian Central Bank, 9-11 December 2009

The downloadable material includes slides and audio WMA files

Wednesday 9th December - Theory and experience

 

 

Lecture 1

Theories Of Financial Instability And Their Practical Relevance (audio)

Lecture 2

The Role Of Incentives In Financial Instability (audio)

Lecture 3

Liquidity Management In Banking Crises (audio)

Lecture 4

The Sub Prime Crisis – Events And Application Of Theory   (audio)

 

 

Thursday 10th December - Regulation and prediction

 

 

Lecture 5

UK Financial Regulation And The Financial Crisis (audio)

Lecture 6

Macroprudential Regulation – The Missing Policy Pillar  (audio)

Lecture 7

Early Warning Systems For Banking Crises (audio)

Lecture 8

Optimal Regulation Of Bank Capital And Liquidity (audio)

Supplementary Household debt and foreign currency borrowing in New Member States of the EU

  material

 

Friday 11th December - Research and ethics

 

 

Lecture 9

Bank Lending, Bank Performance And Commercial Property Prices (audio)

Lecture 10

Costs Of Financial Instability - GDP, Investment And Consumption (audio)

Lecture 11

Ageing And Financial Stability (audio)

Lecture 12

The Financial Crisis, Private And Public Debt – a view from Biblical ethics (audio)

 

Background papers

Lecture 1

Davis E P (2003), "Towards a typology for systemic financial instability", Brunel University Working Paper No 03-20 

Davis E P (1999), "Financial data needs for macroprudential surveillance: what are the key indicators of risk to domestic financial stability?", Lecture Series No 2, Centre for Central Banking Studies, Bank of England.

Lecture 2

Chai J and Johnston R B (2000), “An incentive approach to identifying financial system vulnerabilities”, IMF Working paper No WP/00/211

Lecture 3

He D (2000), “Emergency liquidity support”, IMF Working Paper 00/79

Bernard H and Bisignano J (2000), "Information, liquidity and risk in the international interbank market: implicit guarantees and private credit market failure", BIS Working Paper No 86

Lecture 4

Davis, E P (2009), "The lender of last resort and liquidity provision - how much of a departure is the sub-prime crisis", paper presented at the LSE Financial Markets Group conference on the Regulatory Response to the Financial Crisis, 19th January 2009 

Barrell R and Davis E P (2008), "The evolution of the financial crisis of 2007-8", National Institute Economic Review, 206, 5-14 and Brunel University Economics and Finance Working Paper No 08-25 

Lecture 5

Davis E P (2009), "Financial Stability in the United Kingdom: Banking on Prudence" OECD Economics Department Working Paper no. 717

Lecture 6

Davis E P and Karim D (2009), "Macroprudential regulation - the missing policy pillar" Keynote address at the Euroframe Conference, London, June 2009

Barrell R, Davis, E P, Fic T and Orazgani A (2009), "Household debt and foreign currency borrowing in New Member States of the EU", paper presented at the Euroframe Conference, London, June 2009

Lecture 7

Barrell R, Davis E P, Karim D and Liadze I (2009), "Bank Regulation, Property Prices And Early Warning Systems For Banking Crises In OECD Countries", NIESR Discussion Paper No. 330

Davis E P and Karim D (2008), "Could early warnings systems have helped to predict the subprime crisis?", National Institute Economic Review, 206, 25-37 and Brunel University Economics and Finance Working Paper No 08-27

Davis, E P and Karim D (2007), "Comparing early warning systems for banking crises", Brunel University Economics and Finance working paper No. 07-11

Lecture 8

Barrell R, Davis E P, Fic T, Holland D, Kirby S, Liadze I (2009), "Optimal regulation of bank capital and liquidity: how to calibrate new international standards, FSA Occasional Paper No 38

Lecture 9

Davis E P and Zhu H (2005), "Commercial property prices and bank performance", BIS Working Paper No 175

Davis E P and Zhu H (2004), "Bank lending and commercial property prices, some cross country evidence", BIS Working Paper No 150

Lecture 10

Davis E P and Stone M (2004), "Corporate Financial Structure and Financial Stability",  Journal of Financial Stability

Barrell R, Davis E P and Pomerantz O (2004), "Costs of financial instability, household sector balance sheets and consumption" Discussion Paper No. 243, National Institute of Economic and Social Research

Lecture 11

Davis E P (2002), "Ageing and financial stability", in eds H Herrmann and A Auerbach, "Ageing and Financial Markets", Springer Verlag - Deutsche Bundesbank

Davis E P (2005), "Demographic and pension-system challenges to monetary and financial stability", Geneva Papers on Risk and Insurance

Lecture 12

Davis E P (2009) "The financial crisis, private and public debt - contrasting the approaches of economics and theology", draft paper for the Evangelical Alliance Study Group on "Life After Debt"

 

Bonus item

Photos of Tallinn by night