Topic
Central Banking
Posts
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ArticleVol. 101 · Iss. 1
We Must Protect Investors and Our Banking System From the Crypto Industry
The crypto boom and crash of 2020–22 demonstrated that (i) cryptocurrencies with fluctuating values are extremely risky and highly volatile assets and (ii) cryptocurrencies…
Arthur E. Wilmarth, Jr. -
ArticleVol. 99 · Iss. 1
The Contingent Origins of Financial Legislation
ABSTRACT Courts and scholars often view major financial legislation warily. One popular theory holds that Congress only legislates in this area when pushed by opportunistic activists…
Peter Conti-Brown & Brian D. Feinstein -
ArticleVol. 87 · Iss. 6
A Fixer-Upper for Finance
Three facts bear notice in connection with our current financial troubles. The first is that the First World War, before the Second began, was…
Robert Hockett -
ArticleVol. 87 · Iss. 2
Regulating Complexity in Financial Markets
As the financial crisis has tragically illustrated, the complexities of modern financial markets and investment securities can trigger systemic market failures. Addressing these complexities,…
Steven L. Schwarcz -
ArticleVol. 88 · Iss. 1
Measuring the True Cost of Government Bailout
Government intervention to assist individual businesses and industries during the 2008–2009 economic crisis was extraordinary in variety and scope. Despite official protestations of no…
Cheryl D. Block -
ArticleVol. 93 · Iss. 1
Public Actors in Private Markets: Toward a Developmental Finance State
The recent financial crisis brought into sharp relief fundamental questions about the social function and purpose of the financial system, including its relation to…
Robert C. Hockett & Saule T. Omarova -
ArticleVol. 92 · Iss. 6
Understanding the Failures of Market Discipline
“Market discipline”—the theory that short-term creditors can efficiently rein in bank risk through their self-interested actions—has been a central pillar of banking regulation since…
David Min -
ArticleVol. 98 · Iss. 2
Banking on Democracy
The financial system is unequal and exclusionary even as it is supported, funded, and subsidized by public institutions. This is not just a flaw…
Mehrsa Baradaran -
ArticleVol. 89 · Iss. 1
Key Implications of the Dodd-Frank Act for Independent Regulatory Agencies
The enactment of the Dodd-Frank Wall Street Reform and Consumer Protection Act both transcends and transforms financial regulation. The immediate setting of the law…
Joel Seligman