After the Crash

Sharyn O’Halloran is the George Blumenthal Professor of Political Economy, professor of international and public affairs, and the senior vice dean and chief academic officer for the School of Professional Studies at Columbia University. Her publications include Politics, Process, and American Trade Policy (1994) and The Future of the Voting Rights Act (2006).Thomas Groll is a lecturer in international and public affairs at Columbia University’s School of International and Public Affairs.

This fascinating compendium of essays is appropriately broad in both coverage and perspectives. Dip into this impressive smorgasbord, and you’ll find the thoughts and analyses of top academic economists, leading scholars in other fields, and public figures who both watched and influenced what happened. The financial crisis raised numerous questions; this book is a stepping-stone toward answers.

• Foreword, by David MadiganPreface, by Sharyn O’Halloran and Thomas Groll1. Introduction: Overview of the Financial Crisis and Its Impacts, by Sharyn O’Halloran, Thomas Groll, and Geraldine McAllisterPart I. The Financial Crisis in Perspective2. If “It” Happened Again: A Road Map for Regulatory Reform, by Glenn Hubbard3. Trends and Delegation in U.S. Financial Market Regulation, by Thomas Groll, Sharyn O’Halloran, and Geraldine McAllister4. We Did Not Repeat the Errors of the Past: Lessons Drawn from the Fed’s Policy During the Great Depression, by Antoine Parent5. Regulation and Competition in the EU Financial Sector, by Pierre-Charles Pradier6. Trends in Financial Market Regulation, by Nolan McCartyPart II. Creating The Right (Dis)incentives7. Progress and Challenges After the Financial Crisis, by Jacob J. Lew8. Banks and Tax Havens: First Evidence Based on Country-by-Country Reporting, by Vincent Bouvatier, Gunther Capelle-Blancard, and Anne-Laure Delatte9. “Dynamic Precaution” in Maintaining Financial Stability: The Importance of FSOC, by Jeffrey N. GordonPart III. Use and (Ab)Use of Models in Predicting Financial Outcomes10. Reflections on the Global Financial Crisis Ten Years On, by Joseph E. Stiglitz11. The Right Way to Use Models, by Emanuel Derman12. The Fundamental Volatility of the Digital Economy as a Contributor to Financial Instability, by Eli Noam13. The Impact of Regulation on Systemic Risk, by Sharyn O’Halloran and Nikolai Nowaczyk14. Big Data, Process Scalability, and Financial Stability, by Mark D. FloodPart IV. Regulating for the Next Crisis?15. Rules Versus Principles in Financial Regulation Following the Crisis: It All Depends on the Purpose, by Paul Tucker16. How to Regulate in Times of Crisis, by Stephen M. Cutler17. The Economic and Political Implications of the Dodd-Frank Act, by Barney Frank18. The Regulatory Sine Curve: What Explains the Retreat from Systemic Risk Regulation (and Why It Was Predictable), by John C. Coffee Jr.19. Roundtable: It’s Not Too Much or Too Little Regulation; It’s Getting It Right, by John C. Coffee Jr., Stephen M. Cutler, Barney Frank, and Kathryn JudgePart V. The Origins of the Next Financial Crisis20. Interview: Striking the Right Balance Between Markets and Regulation, by William T. Winters Interviewed by Ailsa Roell21. Money Market Funds After the Onset of the Crisis, by Viktoria Baklanova and Joseph Tanega22. The 2017 Tax Act’s Potential Impact on Bank Safety and Capitalization, by Mark J. Roe and Michael Troge23. Derivative Clearinghouses: Collateral Management and Policy Implications, by Agostino CapponiConcluding Remarks, by Sharyn O’Halloran and Thomas GrollContributorsIndex