A Comment Concerning Deposit Insurance and Moral Hazard
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Hooks and Robinson argue that moral hazard induced by deposit insurance induced banks to invest in riskier assets in Texas during the 1920s. Their regressions suggest this manifestation of moral hazard may explain a portion of the events that occurred during the 1920s, but some other phenomena,
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美国国家经济研究局创建时间：
2006-12-01
