Keywords
law & economics school
financial instruments
regulatory law
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Abstract
The well-known reverse mortgage constitutes today one of the greatest innovations in terms of financial instruments, but it is also located at a doctrinal crossroads since it can be pointed out as the epitome of the economic analysis of law as a current of thought, since it is not about a completely new institution, instead, a rethinking of it, replacing the cognitive reasoning of the rules with the efficiency of them. But the above has been present (mostly) in regulated markets that are under the authority of the public power and its administrative and legal reserve as appropriate. It will be the responsibility of the State to set the limits and scope of this new type of institutions and to exploit a world of innovation through the revival of old institutions.
References
Fernando Alessandri R, La Hipoteca en la Lejislación Chilena. Respositorio Uchile, Santiago de Chile, 1919.
L. Kornhauser, Legal Philosophy: The Economic Analysis of Law, in Stanford Encyclopedia of Philosophy: «A fifth claim is also implicit in the literature: (V) on the best interpretation of law, common law doctrines promote efficiency». 2006
L. Kornhauser, Economic Rationality in the Analysis of Legal Rules and Institutions, 2001.
María Ester Fuentes Sánchez & Daniel Alejandro Moris Orellana, El futuro de la hipoteca a la inversa en Chile. Repositorio Uchile, Santiago de Chile, 2014.
Pierluigi Chiassoni, El Análisis Económico del Derecho. Orígenes y Métodos del Law & Económics en los EE.UU. Palestra Editores S.A.C. Lima Perú 2013.
Sebastián Fernández da Costa, Hipoteca a la inversa, Un nuevo producto financiero a partir de los bienes inmuebles para Chile. Repositorio Uchile. Santiago de Chile, 2019.
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