A perspective on the symptoms and causes of the financial crisis
This article identifies two paradoxes prior to the onset of the financial crisis: banking profits were at historically high levels despite the impending crisis; and though profits were high the profitability of financial intermediation was poor. Using a novel model of banking, it argues that large b...
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| Format: | workingPaper |
| Language: | eng |
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2019
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| Online Access: | http://hdl.handle.net/10400.3/4970 |
| Country: | Portugal |
| Oai: | oai:repositorio.uac.pt:10400.3/4970 |