A reduced form model where banks can pursue other goals than profit maximization is presented. This allows us to test for behavioral changes of banks over time. This model provides a framework to evaluate whether moral hazard issues may plague banks receiving state aid, which concerns greatly...

The current century has witnessed every country locked in a hot race to increase its national power through peaceful development, which made Koreans ever more desirous of peace. But why has the Korean Peninsula, contrary to this desire, been haunted by the ghost of war for more than half a...