I would like to inform the group of the work of Jane D’Arista who is particularly experienced at finanical institutional design
Abstract:
This first paper argues that the link between excess liquidity, the buildup in debt, the asset bubbles that debt created and the financial crisis that followed are outcomes of monetary as well as regulatory policy failures; that they reflect a substantial weakening in the Fed’s ability toimplement countercyclical initiatives. It argues that the effectiveness of monetary policy can – and must – be restored and proposes a new system of reserve management that assesses reserves against assets rather than deposits and applies reserve requirements to all segments of the financial sector.
Continue reading International Reform of the SDR and Domestic Monetary Policy