Browsing FAS Scholarly Articles by Keyword "market failures"

Now showing items 1-2 of 2

    • Social Insurance: Connecting Theory to Data 

      Chetty, Nadarajan; Finkelstein, Amy Nadya (Elsevier, 2013)
      We survey the literature on social insurance, focusing on recent work that has connected theory to evidence to make quantitative statements about welfare and optimal policy. Our review contains two parts. We first discuss ...

    • A Theory of Liquidity and Regulation of Financial Intermediation 

      Farhi, Emmanuel; Golosov, Mikhail; Tsyvinski, Aleh (Wiley-Blackwell, 2009)
      This paper studies a Diamond–Dybvig model of providing insurance against unobservable liquidity shocks in the presence of unobservable trades. We show that competitive equilibria are inefficient. A social planner finds it ...