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Vorlesungsverzeichnis >> Fakultät Sozial- und Wirtschaftswissenschaften >> Bachelor-/Master-/Diplomstudiengänge Wirtschaftswissenschaften >> Hauptstudium/Master Betriebswirtschaftslehre, Internationale Betriebswirtschaftslehre, Wirtschaftspädagogik, European Economic Studies (EES) >> Volkswirtschaftliche Fächer >> Internationale Wirtschaft >>
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V/Ü: Systemic Risk, Regulation and Stability 1: Systemic Risk, Regulation and Stability 1- Dozent/in
- Prof. Mishael Milakovic, Ph.D.
- Angaben
- Vorlesung
2 SWS
Zeit und Ort: Do 12:00 - 14:00, F21/03.81
- Voraussetzungen / Organisatorisches
- Mikroökonomik I&II, Methoden
der Statistik I & II
- Inhalt
- This two-part sequence deals with the risks th
at emanate from modern financial markets and
their regulation. The central question is how thes
e risks, their regulation, and the institutional
framework itself can actually contribute to the cr
eation of “systemic” risk, resulting in historical-
ly recurring economy-wide crises.
The first course in the sequence
takes a closer look at the challe
nges that monetary policy faces
in light of endogenous money creation, which are
compounded by the presence of derivative se-
curities that allow for the synthe
tic replication of traditional ba
nk loans. We will consider wheth-
er or how banks’ off-balance sheet transactions
can circumvent the nationa
l regulatory and taxa-
tion frameworks, and what the implications for th
e respective national central banks are in their
function as so-called lende
rs of last resort. A second important
aspect of this course deals with
financial innovation in the syndica
tion 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 repli-
cation in financial markets, and to carefully expl
ain how this replication leads to new challenges
for central bank policy and financ
ial regulation. The importance of
“cheap liquidity” in financial
crises is emphasized throughout the c
ourse. Lectures are in English.
- Empfohlene Literatur
- P.
H
OWELLS AND
K.
B
AIN
, The Economics of Money, Banking
and Finance, Prentice Hall, 2008
(4th edition).
F.S.
M
ISHKIN AND
S.G.
E
AKINS
, Financial Markets and Institutions, Pearson, 2012 (7th edition).
S.
N
EFTCI
, Principles of Financial Engin
eering, Elsevier AP, 2008 (2nd edition).
C.M.
R
EINHART AND
K.S.
R
OGOFF
, This Time Is Different, Princeton UP, 2009.
- Zusätzliche Informationen
- Erwartete Teilnehmerzahl: 40
www: http://www.uni-bamberg.de/vwl-iwf/leistungen-organisationsebene-universitaet/studium/uebersicht-ueber-alle-lehrveranstaltungen-des-lehrstuhls/systemic-risk-regulation-and-stability-1/
- Institution: Lehrstuhl für Volkswirtschaftslehre, insbes. Internationale Wirtschaft
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