Reading list
Most items on the list can be downloaded from the internet. Links will be provided. Exceptions are marked in the list. Students are not expected to buy books. The final list will contain the items below plus 1-3 articles.
Asbjørn Rødseth and Jon Vislie; Introductory Notes to ECON 4335, University of Oslo 2014[1]
Jean Tirole, Corporate Finance: Chapter 12; Princeton University Press, 2006 [2]
Xavier Freixas and Jean-Charles Rochet, Microeconomics of Banking, Chapter 9: Regulation of Banks. (Sections 9.5.3, 9.6 and 9.7 can be skipped)[2].
James Tobin, “The Commercial Banking Firm: A Simple Model”, Scandinavian Journal of Economics, 84 1982 pp 495-530 Link
Xavier Vives: “Competition and stability in banking”, CEPR Policy insight no 50 august 2010 Link
Franklin Allen and Douglas Gale: “Competition and Financial Fragility”, Journal of Money, Credit and Banking 2004 36: 3(2), 453-480 Link
Bengt Holmström and Jean Tirole: “Financial intermediation, loanable funds, and the real sector” Quarterly Journal of Economics 1997 112: 3, 663-691 Link
Bengt Holmström: “The nature of liquidity provision: When ignorance is bliss”, Presidental Address Econometric Society 2011
Alberto Martin and Jaume Ventura: “Theoretical notes on bubbles and the current crisis”, European Central Bank, Working Paper series, 2011: 1348 Link (Sections 1 and 2 only)
Javier Bianchi: “Overborrowing and systemic externalities in the business cycle” American Economic Review 2011, 101: 3400-3426 Link
Markus K. Brunnermeier and Martin Oehmke, “Bubbles Financial Crises, and Systemic Risk”, NbER Working Paper 18398, 2012, Selected parts [Sections 1, 2, 3,1-3,5 except pp.18-19, 23, 4.2,4.3, ca 36 pages in total] Link
Michael Woodford: “Financial intermediation and macroeconomic analysis” Journal of Economic Perspectives 2010, 24: 4, 21-44 Link
Thomas F.Hellmann, Kevin C. Murdoch and Joseph E. Stiglitz:”Liberalization, Moral Hazard in Banking, and Prudential Regulation: Are Capital Requirements Enough?”, American Economic Review 2000 90:1, 147-165 Link
Alan S. Blinder: "It's Broke, Let's Fix It: Rethinking Financial Regulation", International Journal of Central Banking 2010, 6:4 Link
Samuel G.Hanson, Anil K.Kashyap and Jeremy Stein: "A Macroprudential Approach to Financial Regulation", Journal of Economic Perspectives 2011 25:1, 3-28 Link
Students may benefit from acquiring some background knowledge about the current debate on bank regulation. Examples of possible sources are:
“The Fundamental Principles of Financial Regulation”; Geneva Reports on the World Economy, CEPR, June 2009 Link
Anat Admati and Martin Hellwig: The Bankers’ New Clothes, Princeton University Press, 2013
The homepages of IMF and BIS
[1] Will be made available in Fronter when the lectures start.
[2] (Available in compendium Akademika)