Replication data for: Optimal Regulation of Financial Intermediaries

Sebastian Di Tella
I characterize the optimal financial regulation policy in an economy where financial intermediaries trade capital assets on behalf of households, but must retain an equity stake to align incentives. Financial regulation is necessary because intermediaries cannot be excluded from privately trading in capital markets. They don't internalize that high asset prices force everyone to bear more risk. The socially optimal allocation can be implemented with a tax on asset holdings. I derive a sufficient statistic...
This data repository is not currently reporting usage information. For information on how your repository can submit usage information, please see our documentation.