Capital requirements are a key element in containing systemic risk. This article argues that the market needs to play a more significant role in determining these requirements. The Basel process has a bad track record and there are inherent methodological and political difficulties in a group of...

This major work consists of carefully commissioned original and incisive contributions from leading scholars in the field of international economic law. Covering a full range of topics, the Handbook provides an accessible treatment of the law in each area, as well as a thoughtful synthesis and...

Purpose The purpose of this paper is to propose reforms that would establish a credible framework of rules to constrain and guide emergency lending by the Federal Reserve and by fiscal authorities during a future financial crisis. Design/methodology/approach The authors propose a set of five...