TY  - JOUR
AU  - Nakamura, Leonard
TI  - Durable Financial Regulation: Monitoring Financial Instruments as a Counterpart to Regulating Financial Institutions
JF  - National Bureau of Economic Research Working Paper Series
VL  - No. 17006
PY  - 2011
Y2  - May 2011
DO  - 10.3386/w17006
UR  - http://www.nber.org/papers/w17006
L1  - http://www.nber.org/papers/w17006.pdf
N1  - Author contact info:
Leonard Nakamura
Economic Research
Federal Reserve Bank of Philadelphia
10 Independence Mall
Philadelphia PA 19106-1574
USA
Tel: 215-574-3804
Fax: 215-574-4364
E-Mail: leonard.nakamura@phil.frb.org
M1  - published as Leonard Nakamura. "Durable Financial Regulation: Monitoring Financial Instruments as a Counterpart to Regulating Financial Institutions," in Charles R. Hulten and Marshall B. Reinsdorf, editors, "Measuring Wealth and Financial Intermediation and Their Links to the Real Economy" University of Chicago Press (2015)

M3  - presented at "Conference on Research in Income and Wealth", November 12-13, 2010
AB  - This paper sets forth a discussion framework for the information requirements of systemic financial regulation.  It specifically describes a potentially large macro-micro database for the U.S. based on an extended version of the Flow of Funds.  I argue that such a database would have been of material value to U.S. regulators in ameliorating the recent financial crisis and could be of aid in understanding the potential vulnerabilities of an innovative financial system in the future. I also suggest that making these data available to the academic research community, under strict confidentiality restrictions, would enhance the detection and measurement of systemic risk.
ER  -