|
|
Einrichtungen >> Fakultät Sozial- und Wirtschaftswissenschaften >>
|
V/Ü: Systemic Risk, Regulation and Stability 1- Dozent/in
- Prof. Mishael Milakovic, Ph.D.
- Angaben
- Vorlesung
2 SWS
Modulstudium
Zeit und Ort: Do 12:00 - 14:00, F21/02.41; Einzeltermin am 10.2.2014 12:00 - 13:00, F21/02.41
- Voraussetzungen / Organisatorisches
- Empfohlene Vorkenntnisse: Mikroökonomik I&II, Methoden der Statistik I & II
Für Studierende Master EES nur in Kombination mit Modul MAEES3.2
Empfohlenes Fachsemester: drittes Fachsemester (MA)
- Inhalt
- This two-part sequence deals with the risks that emanate from modern financial markets and
their regulation. The central question is how these risks, their regulation, and the institutional
framework itself can actually contribute to the creation of systemic risk, resulting in historically
recurring economy-wide crises.
The first course in the sequence takes a closer look at the challenges that monetary policy faces
in light of endogenous money creation, which are compounded by the presence of derivative securities
that allow for the synthetic replication of traditional bank loans. We will consider whether
or how banks off-balance sheet transactions can circumvent the national regulatory and taxation
frameworks, and what the implications for the respective national central banks are in their
function as so-called lenders of last resort. A second important aspect of this course deals with
financial innovation in the syndication of loans or other debt obligations (ABS, MBS, CDO,
CLO), and their role in the recent crisis.
The main purpose of the course is to familiarize students with the basic notion of synthetic replication
in financial markets, and to carefully explain how this replication leads to new challenges
for central bank policy and financial regulation. The importance of cheap liquidity in financial
crises is emphasized throughout the course. Lectures are in English.
- Empfohlene Literatur
- Selected textbooks:
P. HOWELLS AND K. BAIN, The Economics of Money, Banking and Finance, Prentice Hall, 2008
(4th edition).
F.S. MISHKIN AND S.G. EAKINS, Financial Markets and Institutions, Pearson, 2012 (7th edition).
S. NEFTCI, Principles of Financial Engineering, Elsevier AP, 2008 (2nd edition).
C.M. REINHART AND K.S. ROGOFF, This Time Is Different, Princeton UP, 2009.
- Englischsprachige Informationen:
- Credits: 6
- Zusätzliche Informationen
- Erwartete Teilnehmerzahl: 40
- Institution: Lehrstuhl für Volkswirtschaftslehre, insbes. Internationale Wirtschaft
Hinweis für Web-Redakteure:
Wenn Sie auf Ihren Webseiten einen Link zu dieser Lehrveranstaltung setzen möchten, verwenden Sie bitte einen der folgenden Links:Link zur eigenständigen Verwendung Link zur Verwendung in Typo3
|
 |
|
|
UnivIS ist ein Produkt der Config eG, Buckenhof |
|
|