Do, A Quang; Shilling, James D - In: Journal of Money, Credit and Banking 27 (1995) 3, pp. 864-75
This paper examines the extent to which failing or failed S&Ls systematically mispriced the cost of home mortgage credit during the 1980s. Several researchers have argued that the moral hazard problem associated with deposit insurance caused bankrupt S&Ls during the 1980s to take on high risk,...