Korinek, Anton; Kreamer, Jonathan - International Monetary Fund (IMF) - 2013
distributive implications of financial regulation center stage. We develop a model in which the financial sector benefits from risk … risktaking map into different levels of welfare for the two parties. A regulator has to trade off efficiency in the financial … sector, which is aided by deregulation, against efficiency in the real economy, which is aided by tighter regulation and a …