"In Managing to the New Regulatory Reality, author Gregory Wilson provides important lessons for private sector management, specifically financial services firms, as well as lessons for policymakers, regulators, and our political economy that will shed light on how we go from bubble to crisis,...

From a broad macro-financial structure perspective, credit conditions have gaven rise to house price booms and busts in several advanced economies (e.g., Ireland, Spain, and the U.S.), and, more specifically in the U.S., an underpricing of risk made possible by regulatory arbitrage and shadow...