Chronicling the politics that led to the creation of the twelve Reserve Banks and the pursuant legal and political consequences, this paper argues that the Federal Reserve’s quasi-private Reserve Banks are, at best, opaque and unaccountable, and, at worst, unconstitutional. Following the Panic...

The purpose of this paper is to compare the cyclical behavior of various credit impairment accounting regimes, namely IAS 39, IFRS 9 and US GAAP. We model the impact of credit impairments on the Profit and Loss (P&L) account under all three regimes. Our results suggest that although IFRS 9 is...

This paper studies the association between occupational licensing and job hire and job separation rates along with earnings of job stayers and job-to-job movers. In contrast to previous studies, it attempts to provide macro-level estimates by relying on a novel Job-to-Job Flows database from the...

After the Latin American Debt Crisis of 1982, the official response worldwide turned to minimum capital standards to promote stable banking systems. Despite their existence, however, such standards have still not prevented periodic disruptions in the banking sectors of various countries. After...

In the United States and the European Union (EU), political incentives to oppose cross-border banking have been strong in spite of the measurable benefits to the real economy from breaking down geographic barriers. Even a federal-level supervisor and safety net are not by themselves sufficient...

Although both in US antitrust and European competition law there is a clear evolution to a much broader application of "rule of reason" (instead of per-se rules), there is also an increasing awareness of the problems of a case-by-case approach. The "error costs approach" (minimizing the sum of...

Freeze-out transactions have been subject to different standards of judicial review in Delaware since 2001, when the chancery court, in In re Siliconix Inc. Shareholders Litigation, held that, unlike merger freeze-outs, tender offer freeze-outs were not subject to “entire fairness review”....

The contributions of Foster (2005) and Halgreen (2004) are the latest in a series of debates, discussions, conferences, and academic scholarship on the subject of United States (US) and (or versus) European Union (EU) sport policy. In the context of international relations and foreign policy,...

This article is part of a broader research stream investigating policy and regulatory frameworks impacting International Prospective Student-Athletes (IPSAs) and their transition to the U.S. combining education and athletics. Elsewhere analyzed are the problems faced by IPSAs in particular...

As the information age progresses, the need for cheap, easy Internet access increases if we want citizens to be able to participate in the global economy. In both the United States and the European Union, cities have taken the lead in attempting to provide Internet access via wireless Internet...