Lacoue-Labarthe, Dominique - Laboratoire d'Analyse et de Recherche Économiques et … - 2014
Some bank reforms of the 1930s in the United States may have been overvalued. The Glass-Steagall Act of 1933 actually created new endogenous risks involving potential systemic effects. Deposit insurance failed to address the main cause of banking panics, and rather strengthened inefficient unit...