Seemingly common-sense taxation approaches raise issues of equity, tax administration, and unintended economic consequences.

This study explains why financial services have for centuries been regulated to a greater extent than are most products that do not directly affect people's health or safety.

This studyprovides a unique framework for analyzing the role of the GATS and the WTO in the liberalization and regulation of the financial services sector.

In his new book, Peter Wallison argues the Dodd-Frank Act was the result of a false narrative about the 2008 financial crisis, blaming the crisis on the private sectors when in fact it was caused by the US government’s housing policies. This was not harmless error; the act will suppress...

This booktraces the origins of GSEs, contrasts investor-owned and cooperative GSEs, and examines such issues as activities and the quality of oversight.

The current approach toward U.S. securities regulation by the Securities and Exchange Commission should be revamped by implementing a regime of competitive federalism.

It is clear that there is no legitimate basis for the proposed expensing of employee stock options.

Requiring companies to expense options in the absence of any satisfactory method to evaluate their costs would be inconsistent with the principles and objectives of accounting.

In a financial intermediary, risk managers can expend effort to reduce loan probability of default and loss given default, but effort is unobservable. Incentive compensation (IC) can induce manager effort. When deposit insurance is subsidized, the demand for risk management declines. Regulatory...