Immediately after the outbreak of the current pandemic crisis, the EU developed a (rather) consistent strategy, by taking measures in order to deal with health emergency needs, support economic activity and employment, preserve monetary and financial stability and prepare the ground for...

As inflation in 2022 surges to a forty-year high, economists, lawmakers, and the public continue to question why. As part of that inquiry, experts and onlookers seek explanations grounded in errors recently made by the central bank, the U.S. Federal Reserve. This Article argues that, while there...

Together with institutional, functional and organizational independence, financial independence constitutes one of the cornerstones of central bank independence, the economic ratio of which has been demonstrated extensively in the literature. In broad terms financial independence may be defined...

In this Preface, we offer some analysis of the 2008-2009 financial crisis and its implications for financial industry reform and research. We primarily focus on issues relating to transparency and the measurement of risk and how these are affected by management incentives that are often...

Bank debit cards may look like credit cards, but they certainly do not act like them when it comes to account overdrafts. This does not suggest that credit cards are better than debit cards, as complaints abound concerning the transparency of fees charged to consumers for credit card...

While the appearance of debit and credit cards is similar, the attributes have significant differences, particularly when it comes to account overdrafts. This does not suggest that credit cards are somehow superior products, as complaints abound concerning credit card fees. Nevertheless,...

The capital structure of fast-growing startups makes them vulnerable to value-destroying acquisitions. Founders in early-stage startups own a large fraction of their company's equity, which gives them powerful incentives to deliver growth. But there is an underappreciated downside to tying...

The Court of Appeals gets it mostly correct in refusing to pierce the veil or to find alter ego liability of a single member Colorado limited liability company in Sedgwick Props. Dev. Corp. v. Hinds (July 3, 2019). The Court of Appeals accepted the lack of formalities as a characteristic of...

The federal government’s economic response to the COVID-19 epidemic has principally been one in which the Federal Reserve has set up extraordinary lending facilities in partnership with the Treasury Department. These facilities were modeled on multi-trillion-dollar lending facilities set up by...

From its inception, the Federal Reserve has operated payment systems that let banks move money for their customers. Checks, wire transfers, and electronic consumer payments all happen thanks to the Federal Reserve. Congress by statute specified which banks get access to the Fed’s payment...