You are looking at 1 - 1 of 1 items

  • Author or Editor: Adam Ridley x
Clear All Modify Search
You do not have access to this content

Adam Ridley

Official reaction to the Great Recession included a sharp tightening of bank regulation, particularly of banks’ capital requirements. The chapter describes the changed arrangements as ‘the New Regulatory Wisdom’. It argues that the NRW has caused banks to limit credit and the services they provide to customers. Even if justified on microeconomic grounds (because banks are safer), the reduction in bank credit and the quantity of money had adverse macroeconomic results in the Great Recession.