Financial Innovation
Haliassos, Michael![Financial Innovation](https://support.digitalhusky.com/media/annotations/sorted/131/13174580/CHSBZCOP0313174580.jpg)
In assigning blame for the recent economic crisis, many have pointed to the proliferation of new, complex financial products--mortgage securitization in particular--as being at the heart of the meltdown. The prominent economists take a more nuanced view of financial innovation. They argue that it was not too much innovation but too little innovation--and the lack of balance between debt-related products and asset-related products--that lies be...