1st Edition

Moral Hazard A Financial, Legal, and Economic Perspective

230 Pages 4 B/W Illustrations

by Routledge

230 Pages 4 B/W Illustrations

by Routledge

230 Pages 4 B/W Illustrations

by Routledge

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Description

Moral Hazard is a core concept in economics. In a nutshell, moral hazard reflects the reduced incentive to protect against risk where an entity is (or believes it will be) protected from its consequences, whether through an insurance arrangement or an implicit or explicit guarantee system. It is fundamentally driven by information asymmetry, arises in all sectors of the economy, including... Read more

1. Introduction Part I: Conceptual and Theoretical Aspects of Moral Hazard 2. The Ethics of Moral Hazard Revisited 3. Moral Hazard and Lending of Last Resort Part II: Moral Hazard and Sovereign Risk 4. Moral Hazard in the Export Credit Industry 5. The International Lender of Last Resort: Between Scylla and Charybdis 6. Moral Hazard at the IMF: An Analysis of the Fund’s Policies and Status Part III: Moral Hazard in the Financial and Corporate Areas 7. The Institutionalization of Bailouts, 1970–1984 8. Varieties of Moral Hazard in the Global Automobile Industry 9. Design and Cost of U.S. Responses to the 2007–2009 Financial Crisis and the 2020 Covid-19 Pandemic 10. Remarks and Policy Recommendations to Fight Moral Hazard