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Harvard Kennedy School Logo
 
Emmanuel Farhi
March 2020, Paper: "Traditional banking is built on four pillars: SME lending, insured deposit taking, access to lender of last resort, and prudential supervision. This paper…
Harvard Kennedy School Logo
 
Emmanuel Farhi
The Safety Trap. Emmanuel Farhi, May 31, 2014, Paper. "Recently, the global economy has experienced recurrent episodes of safe asset shortages. In this paper we present a model…