rationalize the lack of reform, exposing them as invalid. Admati and Hellwig argue we can have a safer and healthier banking … situation benefits bankers, it distorts the economy and exposes the public to unnecessary risks. Weak regulation and ineffective … enforcement allowed the buildup of risks that ushered in the financial crisis of 2007-2009. Much can be done to create a better …

rationalize the lack of reform, exposing them as invalid. Admati and Hellwig argue we can have a safer and healthier banking … situation benefits bankers, it distorts the economy and exposes the public to unnecessary risks. Weak regulation and ineffective … enforcement allowed the buildup of risks that ushered in the financial crisis of 2007-2009. Much can be done to create a better …

entire financial system more fragile. This result leaves three options for the future of financial regulation: (1) continue …

unsustainable investment, fails to recognise that debt is back by credit. A corollary of this is that the rate of interest is not a …

We examine the importance of what we term ‘Fisher dynamics’- the mechanical e?ects of changes in interest rates, growth … household debt, independent of any changes in household behavior. Speci?cally, if average rates of growth, in?ation and interest … in interest rates relative to growth rates, large-scale debt forgiveness of some form may be unavoidable. …

This paper develops a macroeconomic model of the response of interest rates to inflation expectations, with particular … real cost of capital to firms to rise, discouraging investment, and the after-tax real interest rate to savers to fall …