Financial regulation is often framed as a question of economic efficiency. This paper, by contrast, puts the … levels of welfare for the two parties. A regulator has to trade off efficiency in the financial sector, which is aided by … deregulation, against efficiency in the real economy, which is aided by tighter regulation and a more stable supply of credit. We …

Financial regulation is often framed as a question of economic efficiency. This paper, by contrast, puts the … sector, which is aided by deregulation, against efficiency in the real economy, which is aided by tighter regulation and a …

Financial regulation is often framed as a question of economic efficiency. This paper, by contrast, puts the … levels of welfare for the two parties. A regulator has to trade off efficiency in the financial sector, which is aided by … deregulation, against efficiency in the real economy, which is aided by tighter regulation and a more stable supply of credit. We …

Financial regulation is often framed as a question of economic efficiency. This paper, by contrast, puts the … against Wall Street. A regulator has to trade off efficiency in the financial sector, which is aided by deregulation, against … efficiency in the real economy, which is aided by tighter regulation and a more stable supply of credit. We also show that …

Financial regulation is often framed as a question of economic efficiency. This paper, by contrast, puts the … risktaking map into different levels of welfare for the two parties. A regulator has to trade off efficiency in the financial … sector, which is aided by deregulation, against efficiency in the real economy, which is aided by tighter regulation and a …