THIS IS QUITE SIMPLY A CRUCIAL CONTRIBUTION TO THE CURRENT DEBATE ABOUT WHAT WILL QUANTITATIVE FINANCE LOOK LIKE POST CREDIT CRUNCH
A missing link in the transmission mechanism?
by Claudio Borio and Haibin Zhu, Bank for International Settlements
Over the last three decades the financial landscape has gone through radical structural change. As a result of financial liberalisation and innovation, heavily controlled, segmented and “sleepy” domestic financial… Continue