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Safety First: The Deceptive Allure of Full Reserve Banking
(University of Chicago Law Review Online, 2016)
In Safe Banking, Professor Adam Levitin joins a venerable tradition in the money and banking literature. That tradition, called full reserve banking, has claimed a number of illustrious supporters over the years, including ...
Payday Loans and Credit Cards
(American Economic Review: Papers and Proceedings, 2009)
Using a unique dataset matched at the individual level from two administrative sources, we examine household choices between liabilities and assess the informational content of prime and subprime credit scores in the ...
Money as Infrastructure
Traditional infrastructure regulation—the law of regulated industries—rests atop three pillars: rate regulation, entry restriction, and universal service. This mode of regulation has typically been applied to providers of ...