Spending induced by health insurance is often called moral hazard and definitionally assumed to be inefficient. We adapt standard models and show that for those living "hand-to-mouth", the financing ...

Although it has been argued that IMF financing may create moral hazard, it is not easy to find clear evidence of such an effect. If the extent of IMF-induced moral hazard were known, any costs would ...

Climate change isn’t just shifting global temperatures: It’s altering the fabric of our morals, including our understanding of right and wrong. In this four-part culture series, Grist explores ...

I will be the first to concede that this "moral hazard" theory of IMF lending is clever, having spent many years in the 1980s studying it and writing papers about it (including a 1988 piece with ...