| EVENT: |
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| Saturday, 24th January 2009 |
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| 11th Geneva Conference on the World Economy hosted by the International Center for Monetary and Banking Studies (ICMB)
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| At the Geneva Conference on the World Economy, organized annually by the ICMB, participants discussed the forthcoming 11th Geneva Report. The Report under the title: “The Fundamental Principles of Financial Regulations” was written by Andrew Crocket (JPMorgan Chase), Avinash D. Persaud (Chairman. Intelligence Capital Limited), Charles Goodhart (London School of Economics), Markus Brunnermeier and Hyun Shin (both Princeton University). It provides an analysis of the state and problems of current financial regulation and gives a detailed list of recommendations on how to reshape the system by making it more resistant to events like the current financial crisis. |
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| Participants included high-level officials from central banks and finance ministries, academics and banking and finance business leaders. Graduate Institute professors Charles Wyplosz (Director of ICMB), Richard Baldwin, Marc Flandreau, Cedric Tille and Alexandre Swoboda as well as alumni including Stefan Gerlach (Goethe University of Frankfurt) participated in the conference. |
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Prof. Charles Goodhart
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One of the authors, Prof. Charles Goodhart, has extensively published on monetary policy and financial regulation. He is now the Norman Sosnow Professor of Banking and Finance at the London School of Economics (LSE). He worked at the Bank of England for seventeen years. Goodhart helped to found, with Mervyn King, the Financial Markets Group at LSE. He was appointed one of the outside independent members of the Bank of England’s Monetary Policy Committee from 1997 to 2000.
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| Presentation by the authors: |
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| Macro prudential regulation by Markus Brunnermeier |
| Nature of systemic risk by Hyun Song Shin |
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| The discussants' comments are accessible below: |
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