The aim of this paper is to examine what has been the role of information provision to the market throughout the crisis …. We consider two main sources of information to the market, financial statements and information provided by credit rating … agencies. We examine how these sources of information work and the effectiveness of their disclosure process during the crisis …

serve the public interest. We highlight the importance of information in addressing the public desire for banks to be safe … yet innovative. Regulators can choose several approaches to increase market discipline and information production …. Information production can be mandated outside of markets through increased regulatory disclosure. Regulators can also directly …

introduced by the presence of moral hazard naturally depends on the information structure in the economy; it is cheaper to induce … correct incentives in a society which possesses better ex-post information. The degree of ex-post information depends on the … number of projects and entrepreneurs in the economy; the more projects, the better the information. This implies that in the …

introduced by the presence of moral hazard naturally depends on the information structure in the economy; it is cheaper to induce … correct incentives in a society which prossesses better ex port information. …

introduced by the presence of moral hazard naturally depends on the information structure in the economy; it is cheaper to induce … correct incentives in a society which posesses better ex post information. The degree of ex post information depends on the … number of projects and entrepreneurs in the economy; the more projects, the better the information. This implies that at the …

(1985) to a sitaution in which the insider with fundamentals-information competes against an insider with trade-information …