Author: Philip Lane

Emerging European countries also experienced credit booms during the pre-crisis period but have largely avoided severe banking crises.  The World Bank has commissioned a number of studies to look at financial regulation and macroeconomic policy in these countries, with the first wave of papers now released:

Macroprudential regulation of credit booms and busts : the experience of the National Bank of the Republic of Macedonia

Credit growth and financial stability in the Czech Republic

Macroprudential regulation of credit booms and busts — the case of Croatia

Financial-stability challenges in European emerging-market countries

Banking flows and financial crisis — financial interconnectedness and basel III effects

The IMF staff position note on household debt restructuring is available  here.

Another interesting contribution is by Arellano and Kocherlakota, “Internal Debt Crises and Sovereign Default.”

Today’s NYT has an editorial on debt workouts for homeowners: you can read it here.

[By the way, the NYT photo blog has a nice photo essay today on Ireland’s Ghost Estates here.]

Dublin is the location this week for the 58th World Statistics Congress of the International Statistical Institute (the CSO is the local host): the programme shows the wide range of topics covered by this large-scale event, including many relevant for understanding economics and finance.

John Murray Brown reviews the fiscal debate in this FT article.