Handbook of Safeguarding Global Financial Stability

Chapter 25

Safeguarding Global Financial Stability, Overview

J.R. Barth^{*,, †,, ‡}, D.G. Mayes^§ and M.W. Taylor^‖

^*Auburn University, Auburn, AL, USA

^†Milken Institute, Santa Monica, CA, USA

^‡Wharton Financial Institutions Center, Philadelphia, PA, USA

^§University of Auckland, Auckland, New Zealand

^‖Bank of International Settlements

Outline

Financial Stability

Establishing and Maintaining Financial Stability

Crisis Management and Avoidance

Global Approaches

Other Issues

References

Financial Stability

Tommaso Padoa-Schioppa once remarked that a concern with financial stability was part of the ‘genetic code’ of central banks (Padoa-Schioppa, 2004). Similarly, Charles Goodhart’s monograph on the Evolution of Central Banks (Goodhart, 1988) emphasized ...