The Volcker Rule is a Necessary, but not a Sufficient Condition for Macrofinancial Stability

About five years after the global financial crisis of 2007-2008, the Volcker Rule – a key part of the Dodd-Frank Wall Street Reform and Consumer Protection Act – was approved by the five financial regulatory agencies last week, and is scheduled to go into effect on April 1st 2014. As widely known, the main feature […]