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RESERVE BANK OF AUSTRALIA 2008 CONFERENCE

Lessons from the Financial Turmoil of 2007 and 2008

14–15 July 2008

The two-day conference examined the financial market turmoil of 2007 and 2008 and the lessons that can be drawn for policy makers across a number of dimensions. The papers and discussions looked at the factors leading to the global financial market turmoil and its effects on the financial system and the real economy. There was an analysis of the role of disintermediation and capital regulation and how best to encourage financial innovation while mitigating risks. The role of central banks as providers of liquidity was also addressed. A volume, containing the conference papers and discussions, was published on 31 October 2008. To order a hard copy of the volume, please complete the Publications Order Form.

Download the complete volume (PDF 1M)

Conference Papers

• Table of Contents - PDF 84K
  

• Introduction - PDF 84K
  Paul Bloxham and Christopher Kent
  

• The Unfolding Turmoil of 2007–2008: Lessons and Responses - PDF 159K
  Ben Cohen and Eli Remolona
  Discussion - PDF 93K
  Richard Portes, Grant Spencer
  

• Financial Innovation: What Have We Learnt? - PDF 95K
  Nigel Jenkinson, Adrian Penalver and Nicholas Vause
  Discussion - PDF 95K
  Gerard Caprio, Paul Bide

• The Sub-prime Crisis: Causal Distortions and Regulatory Reform - PDF 271K
  Adrian Blundell-Wignall and Paul Atkinson
  Discussion - PDF 86K
  John Laker, Brian Cahill

• Liquidity, Financial Crises and the Lender of Last Resort – How Much of a Departure is the Sub-prime Crisis? - PDF 149K
  E Philip Davis
  Discussion - PDF 67K
  Ian Harper

• Promoting Liquidity: Why and How? - PDF 225K
  Jonathan Kearns and Philip Lowe
  Discussion - PDF 81K
  Prasanna Gai
  

• Recent Developments in Federal Reserve System Liquidity and Reserve Operations - PDF 169K
  Spence Hilton
  Discussion - PDF 77K
  Donna Howard

• Wrap-up Discussion - PDF 107K
  Satyajit Das and Malcolm Edey

• Biographies of Contributors - PDF 98K

• List of Conference Participants - PDF 68K