Neglected Risks, Financial Innovation, and Financial Fragility

Nicola Gennaioli, Andrei Shleifer & Robert Vishny
Published Date
Copyright 2012
DOI 10.1016/j.jfineco.2011.05.005
Book: Market Institutions and Financial Market Risk
Book organizers: Mark Carey, Anil Kashyap, Raghuram Rajan & René Stulz
PUBLISHER: Journal of Financial Economics 104 (3)

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Neglected Risks, Financial Innovation, and Financial Fragility
- Working Paper
We present a standard model of financial innovation, in which intermediaries engineer securities with cash flows that...

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