search query: @author Chang, C. / total: 7
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| Author: | Boyd, J. H. Chang, C. Smith, B. D. |
| Title: | Moral hazard under commercial and universal banking. |
| Journal: | Journal of Money, Credit and Banking
1998 : AUG, VOL. 30:3:2, p. 426-468 |
| Index terms: | Moral hazard Banking Investments USA |
| Language: | eng |
| Abstract: | The authors evaluate claims about the potential benefits and the potential costs of adopting a system of universal banking in USA. They use a model where is a moral hazard promlem between banks and "borrowers", a moral hazard problem between banks and a deposit insurer, and a costly state verification problem. The incentives of universal banks to take equity positions will often be strongest when these problems are most severe. The article is commented by D. W. Diamond (p.469-471) |
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