Three Principles for Market-Based Credit Regulation

Perry G. Mehrling

56 citations0/0 files storedAmerican Economic Review

No readable copy stored yet — this record is metadata only.

No open-access location is known for this record yet.

Literature note Cite in a project Citation map

Banking stability, regulation, efficiency Monetary Policy and Economic Impact Credit Risk and Financial Regulations

Abstract

A key lesson of the financial crisis 2007-09 is that the Bagehot Rule, “lend freely but at a high rate,” needs to be updated for the emerging market-based credit system. A modern rule is suggested: Markets, not Banks; Outside spread, not Inside spread; Core, not Periphery.

Paper brief

Loading…

Cite this work

Citation unavailable for this work.

BibTeX RIS CSL-JSON

No public copy is stored for this record, so only the metadata is cited.

Citations in this library

Citation map →

Stored only when both papers are in the corpus — 56 citations exist upstream.

References

2008Market Liquidity and Funding Liquidity 2009Deciphering the Liquidity and Credit Crunch 2007–2008 1873Lombard Street: A Description of the Money Market 2010Basel Committee On Banking Supervision 1995Market microstructure theory 2000Market microstructure: A survey 2008Deciphering the Liquidity and Credit Crunch 2007-08 2010Slapped by the invisible hand: the panic of 2007

Cited by

2013Financialization and the Three Utopias of Shadow Banking

Explore the map →

Papers that cite the same references — the relational fallback while embeddings are still backfilling.

Imported from OpenAlex (CC0) — nothing here is generated.