Anginer, Deniz; de la Torre, Augusto; Ize, Alain - In: Journal of Financial Stability 10 (2014) C, pp. 76-86
The global financial crisis brought government guarantees to the forefront of the debate. Based on a review of frictions that hinder financial contracting, this paper concludes that the common justifications for government guarantees—i.e., principal-agent frictions or un-internalized...