Financial restructuring to sustain recovery (Brookings Institution Press, 2013)
Includes bibliographical references and index
Introduction - Financial restructuring to speed recovery - Martin Neil Baily, Richard J. Herring, and Yuta Seki -- - Restructuring the U.S. housing market - Franklin Allen, James R. Barth, and Glenn Yago -- - Bankruptcy and economic recovery - Thomas Jackson and David Skeel -- - Reenergizing the IPO market - Jay R. Ritter -- - Reconstructing and revitalizing Japan's financial sector - Yuta Seki
"How much financial regulation will adequately reduce future systemic threats to the financial sector? To what extent can international authorities legally oversee the financial activities and outcomes of other transnational entities? Can macroprudential policy be aligned successfully with monetary policy to weather another boom-bust cycle? Editors Martin Neil Baily, Yuta Seki, and Richard Herring envision a global policy response to the financial crisis, designed to maintain sector-wide economic growth and improve profitability, rather than a response limited to secure only the strength of individual banks and nonbanks. This volume outlines how to manage factors that can endanger the financial system: how to prevent fluctuations in global capital flows; when to apply capital injection; and how to design incentives to avoid default on debt. Financial Restructuring to Sustain Recovery underscores the imperative of resolution procedures that reinforce sound financial governance, particularly in an effort to stave off future financial crises."--Publisher's website