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Podcast: New Books in Economics
Episode: Robert Holzmann and Fernando Restoy, "Central Banks and Supervisory Architecture in Europe: Lessons from Crises in the 21st Century" (Edward Elgar, 2022)
Description: Since 2020, Europe's financial sector has been severely stress-tested by a global pandemic and a major land war yet, compared to the period between 2007 and 2012, the impact has been remarkably muted. Still minnows compared to their US peers, Europe's post-crisis recapitalised banks nevertheless have held up well. And so, by and large, has the quality of their assets despite ten years of slow growth and low inflation followed by enormous volatility, high inflation and interest rates heading to two-decade highs.How much of this has been luck? How much is due to the redesign of European banking supervision...