Dr. P.V. Viswanath



Economics/Finance on the Web
Student Interest

  Courses / Financial Innovation (EDHEC)  

Financial Innovation
Assignments, Summer 2007



Risk Sharing


Information Asymmetry and Moral Hazard

  • At the risky end of finance, Economist, April 19th, 2007
    (If you don't subscribe to the Economist, the link above won't work; however, you can also find this article by clicking on this link. If that doesn't work, you can also find this article by going to http://library.pace.edu, then clicking on "Databases" under Find Resources -- first column -- then choose ABI Inform from Complete Database Listing and Search by keywords from article title -- viz, risky end and finance.
  • The Cash-Back Mortgage,” by Stephen Dubner and Steven Levitt, June 10, 2007, NY Times


Macroeconomic Effects

Presentation Assignments:
These articles can be found on Blackboard under Documents in Part II of the Finance section
Articles marked ** have already been selected by a team -- make your selection from the remaining articles.

  1. **"Financial Innovation and Financial Stability: Striking a Balance," speech given by Eduardo Aninat, Deputy Managing Director, International Monetary Fund at the CEPALC International Conference, Towards Regional Currency Areas at Santiago, Chile, on March 27, 2002
  2. "Innovation in finance – and how Europe can be at the leading edge," speech by Charlie McCreevy, European Commissioner for Internal Market and Services at the 7th Annual Finance Dublin Conference at Dublin on 28-29 March 2005.
  3. "Financial Innovation, Monetary Policy and Financial Stability," speech given by Mr. Christian Noyer, Governor of the Banque de France, at the Spring Conference of the Banque de France/ Deutsche Bundesbank at Eltville, on 27/28 April 2007.
  4. "Has Financial Development Made the World Riskier?" by Rajan Raghuraman, European Financial
    Management, 12 (4), 499-533 (2005).
  5. **"How do Financial Systems Affect Economic Cycles." Chapter 4, pp 105-138, World Economic Outlook, published by the IMF (September 2006).
  6. "Information Asymmetry and Trust: A Framework for Studying Microfinance in India," by M.S. Sriram, Vikalpa, vol. 30, no. 4, October-December 2005.
  7. "The Great Reversals: The Politics of Financial Development in the 20th century," by Raghuram G. Rajan and Luigi Zingales, Economics Department Working Papers no. 265, October 2000.
  8. Financial Innovations for Accelerating Medical Solutions
    A report from the Milken Institute that discusses ways of speeding up the generation of solutions to medical problems by improving access to financing.
  9. Financial Innovation, Working Paper, Harvard Business School, by Peter Tufano.
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