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Progress and ConfusionThe State of Macroeconomic Policy$
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Olivier Blanchard, Raghuram G. Rajan, Kenneth S. Rogoff, and Lawrence H. Summers

Print publication date: 2016

Print ISBN-13: 9780262034623

Published to MIT Press Scholarship Online: January 2017

DOI: 10.7551/mitpress/9780262034623.001.0001

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PRINTED FROM MIT PRESS SCHOLARSHIP ONLINE (www.mitpress.universitypressscholarship.com). (c) Copyright The MIT Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in MITSO for personal use.date: 23 September 2021

Shadow Banking as a Source of Systemic Risk

Shadow Banking as a Source of Systemic Risk

Chapter:
(p.81) 8 Shadow Banking as a Source of Systemic Risk
Source:
Progress and Confusion
Author(s):

Robert E. Rubin

Publisher:
The MIT Press
DOI:10.7551/mitpress/9780262034623.003.0008

The chapter argues that market-based financial systems will experience episodes of booms and bust, even if regulation can reduce their likelihood and severity. It sees significant risk in the shadow banking world, which has grown rapidly in recent years and yet is still not well understood. The chapter calls for greater efforts toward cataloguing the asset classes, organizations and activities involved in shadow banking, and toward developing the right set of regulatory tools.

Keywords:   systemic risk, shadow banking, macro prudential regulation

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