Conventional wisdom suggests that the European debt crisis, which has thus far led to severe adjustment programs crafted by the European Union and the International Monetary Fund in both Greece and Ireland, was caused by fiscal profligacy on the part of peripheral, or noncore, countries in...

We examine the political dynamics which led to the codification of the Principles and Standards for sound compensation practices at financial institutions at international (G 20) level and to their subsequent implementation on both sides of the Atlantic. We show that the regulation of bankers'...

Conventional wisdom suggests that the European debt crisis, which has thus far led to severe adjustment programs crafted by the European Union and the International Monetary Fund in both Greece and Ireland, was caused by fiscal profligacy on the part of peripheral, or non-core, countries in...

This article explores the effect of delays in updating prudential regulation on countries' likelihood of experiencing banking crises, and it disentangles the impact of different aspects of regulation on crisis onset. I argue that delays in revising banks' prudential regulation allow banks to...

To reconcile the mixed empirical results, we develop a theoretical model whose main implication is a concave impact of regulation on the probability of a crisis. We test this relationship by applying a Probit model of a non-linear specification to annual data from 1999 to 2011 drawn from 132...

The Crisis in Telecommunications Carrier Liability addresses the important public policy issues underlying liability rules for common carriers in the context of telephone companies. These public policy concerns must be evaluated for their compatibility in achieving other public policy...