The Consequences of Financial Innovation: A Counterfactual Research Agenda
---- Acknowledgements ----
We would like to thank Bob Hunt, Bill Janeway, Joel Mokyr, Antoinette Schoar, Scott Stern and participants at the American Economic Association's 2010 Meeting, the National Bureau of Economic Research's Rate and Direction of Inventive Activity Pre-Conference and Conference, and Brown University's Conference on Financial Innovation for their helpful comments. We thank the Division of Faculty Research and Development at the Harvard Business School for support of this project. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.