An important goal of financial risk regulation is promoting coordination. Law's coordinating function minimizes costly conflict and encourages greater uniformity among market participants. Likewise, privately developed market standards, such as standard-form contracts and rules incorporated into...

The recent global financial crisis has put the spotlight on macro-prudential policies to protect firms and households from problems emanating from the financial sector. This paper proposes an analytical framework that combines exogenous and endogenous risks, the latter seen as stemming from...

How to best manage the failure of systemically important financial firms was the theme of a recent conference at which the latest research on the issue was presented. Here we summarize that research, the discussions that it sparked, and the areas where considerable work remains.

Remarks at the New York Bankers Association Financial Services Forum, New York City.

Remarks at the New York Bankers Association Financial Services Forum, New York City.

Remarks at the Partnership for New York City Discussion, New York City.

Joint written testimony before the Congressional Oversight Panel, Washington, D.C.

Remarks at the 2013 OTC Derivatives Conference, Paris, France.

Remarks at the Council on Foreign Relations Corporate Conference 2009, New York City.