Borys Grochulski, Stephen Slivinski
Abstract
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A single regulator tasked with preventing threats to systemic stability would need to have considerable power and discretion. But creating such a powerful entity could reinforce the moral hazard problem resulting from the idea that some firms are too big to fail.
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A single regulator tasked with preventing threats to systemic stability would need to have considerable power and discretion. But creating such a powerful entity could reinforce the moral hazard problem resulting from the idea that some firms are too big to fail.
Key concepts: Systemic risk, Discretion, Moral hazard, Too big to fail, Law and economics, Risk analysis (engineering), Business, Stability (learning theory)