"Moral Hazard is a core concept in economics. In a nutshell, moral hazard reflects the reduced incentive to protect against risk where an entity is (or believes it will be) protected from its consequences, whether through an insurance arrangement or an implicit or explicit guarantee system. It...

The financial economy: A review of the literature -- The institutional framework: The capital formation process in finance-led economies -- Thickly capitalized ventures: Housing production, illiquid assets, and social welfare -- Thinly capitalized ventures: Financing science-based innovation in...

1. Modern views on monetary policymaking -- 2. Orthodox views on monetary policymaking -- 3. The French heterodoxy in monetary policymaking -- 4. The Swedish Wicksellian experiment : a pioneered price level target -- 5. Monetary policy facing financial crisis -- 6. Monetary policy facing a...

"There are many studies confirming the relationship between financial systems and economic development but there are few which examine the degree to which financial systems: a) impact the quality of information, b) influence sound corporate governance, c) ensure effective mechanisms of risk...