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Financial Innovation
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Financial Innovation: Too Much or Too Little?

Michael Haliassos

Abstract

This collective volume is about financial innovation, its history, and its potential to cause or to prevent financial crises. In assigning blame for the recent economic crisis, many have pointed to the proliferation of new, complex financial products - mortgage securitization in particular. The prominent economists from academia, policy institutions, and financial practice who contribute to this book, however, argue that it was not too much innovation but too little innovation and the lack of balance between debt-related products and asset-related products that lies behind the crisis. Preventi ... More

Keywords: Financial innovation, Financial crisis, Regulation, Behavioral finance, Housing, Securitization

Bibliographic Information

Print publication date: 2013 Print ISBN-13: 9780262018296
Published to MIT Press Scholarship Online: January 2015 DOI:10.7551/mitpress/9780262018296.001.0001

Authors

Affiliations are at time of print publication.

Michael Haliassos, editor
Goethe University Frankfurt, Germany

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