Focus on banks’ incentives must continue post-crisis: Bank’s Bean
Bank of England deputy governor Charles Bean says crisis focus on bank incentives must remain; financial market problems require macroprudential instruments
The financial crisis has highlighted the need to understand banks' incentives, and central banks must continue watching and analysing these in good times, Charles Bean, a deputy governor of the Bank of England, said on Saturday.
Presenting a paper co-authored with Matthias Paustian, Adrian Penalver and Tim Taylor at the Kansas Federal Reserve's annual symposium in Jackson Hole, Wyoming, Bean noted that pre-crisis literature focused on financial frictions caused by the behaviour of borrowers. The
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