Showing 1 - 10 of 62
The Neal Report, which was commissioned by Lyndon Johnson and published in 1967, is rightfully criticized for representing the past rather than the future of antitrust. Its authors completely embraced a theory of competition and industrial organization that had dominated American economic...
Persistent link: https://www.econbiz.de/10012718956
In times of crisis, there is reduced demand for consumer durables and the manufacturing industry tends to suffer from excess capacity. Due to liquidity problems, the banking sector too suffers critically. Generally, one observes an accelerated merger control activity across all the sectors, but...
Persistent link: https://www.econbiz.de/10013021566
The global financial crisis has provided clear evidence that the global financial system, including that of Australia, is founded on flawed economic theories. There is no scientific justification for sophisticated risk management, complex institutional structures or intrusive regulation....
Persistent link: https://www.econbiz.de/10013031913
The literature on regulation has typically emphasized the ability of concentrated interest groups to secure the rules they prefer. One view argues that concentrated interests are consistently able to impose diffuse costs across large and unorganized interests. A second, largely compatible, view...
Persistent link: https://www.econbiz.de/10014176301
This paper analyzes the causes and implications of recent financial crises. Financial crises in general lead to changes in both theory and practice of economics. The paper takes an historical overview. The global consensus of economic theory during the 20th century is discussed. The paper...
Persistent link: https://www.econbiz.de/10014180395
Hindsight tells us that COVID-19, thought by Trump and others to have come out of nowhere, is more aptly labelled a “gray rhino” event, one that was highly probable and one that we had the power to prevent. Indeed, despite considerable evidence of the impending threats of pandemics, for the...
Persistent link: https://www.econbiz.de/10013250236
This article looks at New Zealand's conduct of business rules for financial advisers. It compares New Zealand's rules to conduct of business rules applicable in the United Kingdom and Australia. There are major respects in which New Zealand's conduct of business rules fall behind best practice,...
Persistent link: https://www.econbiz.de/10012999354
Over-the-counter (OTC) derivatives played an important role in the build-up of systemic risk in financial markets before 2007 and in spreading volatility throughout global financial markets during the crisis. In recognition of the financial and economic benefits of derivatives products, the...
Persistent link: https://www.econbiz.de/10012946398
Drawing on the 2016 update of the IMF's Central Bank Legislation Database, this paper examines differences in central bank legal frameworks before and after the Global Financial Crisis. Examples from select countries show that many central bank laws have undergone changes in objectives,...
Persistent link: https://www.econbiz.de/10012957244
This chapter discusses the legal issues of rescue and corporate social responsibility during times of public crisis. It analyzes a corporate board's fiduciary duty related to the management of a public crisis and the provision of aid to government and the public. The thesis is that American...
Persistent link: https://www.econbiz.de/10013038752