bailouts are costly because they worsen incentives and thereby reduce welfare. We show that regulation in the form of limits on … to undertake bailouts. In terms of the cyclical properties of regulation, we show that regulation should be tightest in …

bailouts are costly because they worsen incentives and thereby reduce welfare. We show that regulation in the form of limits on … undertake bailouts. In terms of the cyclical properties of regulation, we show that regulation should be tightest in aggregate …

bailouts are costly because they worsen incentives and thereby reduce welfare. We show that regulation in the form of limits on … undertake bailouts. In terms of the cyclical properties of regulation, we show that regulation should be tightest in aggregate …

macroprudential tax revenue in a bailout fund used for stimulus measures is undesirable …

macroprudential tax revenue in a bailout fund used for stimulus measures is undesirable …