Bailouts more likely in unequal democracies – research
Accountable governments face pressure to preserve banks
Bank bailouts in times of systemic crisis may attract public anger, but history suggests they may often be a response to public pressure, according to research presented on November 17 at a conference at the London School of Economics and Political Science (LSE).
The LSE's Jeffrey Chwieroth and Andrew Walter of the University of Melbourne used a dataset of 122 policy responses to systemic banking crises since 1976, and categorised each one on a scale from the traditional 'Bagehot' response at
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