Prasch, Robert E.; Warin, Thierry - Centre Interuniversitaire de Recherche en Analyse des … - 2012
From a historical perspective, as moral hazard was mounting, the Fed deployed a new doctrine, de-regulating to surmount the so-called challenges of globalization, while financial innovation was on the rise. This paper focuses on another aspect of the crisis: moral hazard. If a firm or even a...