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Banking and Moral Hazard
Acharya, Viral, Philipp Schnabl and Gustavo Suarez (2010), Securitization Without Risk Transfer, September 2010, NBER Working Paper.
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Equilibrium Selection Through Global Games
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Financial Amplification and Externalities
Gromb, Denis and Dimitri Vayanos (2002), “Equilibrium and welfare in markets with financially constrained arbitrageurs,” Journal of Financial Economics 66(2-3), pp. 361-407.
Jeanne, Olivier and Anton Korinek (2010), “Excessive Volatility in Capital Flows: A Pigouvian Taxation Approach,” forthcoming in American Economic Review Papers and Proceedings 100(2).
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Chetty, Raj (2009), “Sufficient Statistics for Welfare Analysis: A Bridge Between Structural and Reduced-Form Methods,” Annual Review of Economics 1: 451-488.
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Korinek, Anton (2011), “Systemic Risk-Taking: Amplification Effects, Externalities, and Regulatory Responses,” University of Maryland, mimeo.
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Capital Market Imperfections and Monetary Economics
Adrian, Tobias and Hyun Song Shin (2008), “Money, Liquidity and Monetary Policy,” American Economic Review P&P, 99(2), pp. 600–605.
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