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Barriers To Market Discipline: A Comparative Study Of Regulatory Reforms, Vincent Di Lorenzo

Vincent Di Lorenzo

Barriers to Market Discipline: A Comparative Study of Mortgage Market Reforms This article explores regulatory reforms in the U.S. and U.K. in response to the recent mortgage market crisis. These reform efforts serve as case studies for evaluation of necessary reforms being considered in many nations. Two issues are examined. First, the article explores the extent to which regulatory bodies have recognized behavioral barriers to market discipline on the part of both consumers and industry actors. The academic literature has long identified such barriers, but recognition by government regulators has lagged. Second the article examines the varied response in the …