This paper argues that the recent Southeast Asian currency crisis was caused by large prospective deficits associated with implicit bailout guarantees to failing banking systems. We articulate this view using a simple dynamic general equilibrium model whose key feature is that a speculative...

This article describes financial account aggregation and explores potential financial risks to the consumer and account holding financial institutions from aggregation. The current state of the law and contractual relationships relevant to such risks are analyzed. These risks include,...