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.
We Are Not Macroprudentialists
A Skeptical View of Prudential Regulation to Deal with Systemic Externalities
By Bogdan Glăvan, Flavia Anghel
This
article
appeared in
the Winter 2012/13 issue of The Independent Review.
Banking and FinanceBanking Law and RegulationBusiness and EntrepreneurshipEconomic PolicyEconomyFree Market EconomicsLaw and LibertyPublic Choice
Other Independent Review articles by Bogdan Glăvan | |
Fall 2008 | Coordination Economics, Poverty Traps, and the Market Process: A New Case for Industrial Policy? |