We Are Not Microprudentialists: A Skeptical View of Prudential Regulation to Deal with Systemic Externalities
By Flavia Anghel
Bogdan Glăvan

This article appeared in the Winter 2013 issue of The Independent Review


The 2008 financial crisis is widely touted as supporting the case for more bank regulation and taxation to deal with “systemic” risk. This claim, however, often rests on dubious ideas about the effects of borrowing and the causes of herd behavior.

Other Independent Review articles by Bogdan Glăvan
    Fall 2008   Coordination Economics, Poverty Traps, and the Market Process: A New Case for Industrial Policy?

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