Monthly Archives: October 2014

Tirole’s Nobel Prize in Economics and Its Implications for Regulation

This year’s economics Nobel Prize (technically, it is not a Nobel Prize, but the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel) went to the French economist Jean Tirole. The price was awarded for his “analysis of market power and regulation”, according to the Royal Swedish Academy of Sciences. Tirole has devoted […]

Regulators’ Irrational Rationality and Bankers’ Rational Irrationality: Too Big to Fail, Self-Regulation, Moral Hazard and the Global Financial Crisis, 2007-2009

A new article by me will be published in the Oesterreichische Zeitschrift fuer Geschichtswissenschaften (OeZG) in early 2015. The Working Paper may be downloaded from the Social Science Research Network (SSRN). The abstract is provided below, for the full text, please visit SSRN. Abstract: Banks and other financial institutions which were too-big-to-fail (TBTF) played a […]