A Flow-of-Funds Perspective on the Financial Crisis Volume II

Based on the crisis experience, the book offers an overview of lessons for macrofinancial analysis and financial stability. It illustrates the interlinkages between the financial side and the real side of the economy and highlights the role of balance sheet variables and sectoral balance sheet positions in the evolution of the financial crisis.

Auteur

Vítor Constâncio, European Central Bank, Germany John Duca, Federal Reserve Bank of Dallas and Southern Methodist University, USA John Muellbauer, Nuffield College and Oxford Martin School, UK Richard Barwell, Royal Bank of Scotland, UK Oliver Burrows, Bank of England, UK Shuji Kobayakawa, Bank of Japan, Japan Ryoichi Okuma, Bank of Japan, Japan Janez Fabijan, Bank of Slovenia, Slovenia Philippe de Rougemont, European Central Bank, Germany Carlos Cuerpo, European Commission, Belgium Alexandr Hobza, European Commission, Belgium Christophe Van Nieuwenhuyze, National Bank of Belgium, Belgium Nuno Silva, Banco de Portugal, Portugal Nuno Ribeiro, Banco de Portugal, Portugal António Antunes, Banco de Portugal, Portugal Virgilijus Rutkauskas, Bank of Lithuania, Lithuania Michael Andreasch, Oesterreichische Nationalbank, Austria

Contenu
Foreword; Vítor Constâncio 1. Introduction and Overview; Bernhard Winkler, Ad van Riet and Peter Bull PART I: FLOW OF FUNDS AND MACROFINANCIAL ANALYSIS 2. Tobin LIVES; John Duca and John Muellbauer 3. Balance sheets in The Great Moderation; Richard Barwell and Oliver Burrows 4. Japan's Flow of Funds Accounts; Shuji Kobayakawa and Ryoichi Okuma 5. Financial Accounts - the Case of Slovenia; Janez Fabijan PART II: FLOW OF FUNDS AND MACROECONOMIC IMBALANCES IN EUROPE 6. The Financial Crisis in the Light of Euro Area Accounts; Philippe de Rougemont and Bernhard Winkler 7. The Surveillance of Macroeconomic Imbalances in the EU; Carlos Cuerpo and Alexandr Hobza 8. Debt, Assets and Imbalances in the Euro Area; Christophe Van Nieuwenhuyze PART III: FLOW OF FUNDS AND FINANCIAL STABILITY 9. Systemic Risk Contingent Claims Analysis; Nuno Silva, Nuno Ribeiro and António Antunes 10. Financial Accounts and Financial Stability in Lithuania; Virgilijus Rutkauskas 11. Financial Linkages of the Financial Sector in Austria; Michael Andreasch