Ferri, Giovanni; Neuberger, Doris - In: Rivista di Politica Economica (2014) 2, pp. 39-69
, and macroeconomic debt overhang. Consequently, we discuss actions that, by restoring the consistency of banking regulation … of finance theory. Next, we document how finance theory prevailed over banking intermediation theory in shaping banking … regulation: This appalling contradiction is the true culprit behind lower credit standards, mounting systemic risk in banking …