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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/10009145755
This paper provides an overview of the evolution of macroeconomic thought from 1936, the year John Maynard Keynes published his general theory of employment, interest and money to the year 2010. It explores the reasons for the extension of the business cycle during the postwar period. The paper...
Persistent link: https://www.econbiz.de/10009293018
This paper will examine the US government’s proposed changes to the H-1B visa, a dual-intent visa meant to bring highly-skilled individuals to the US labor market. It will first explain what the H-1B visa is and is not and what might happen to the H-1B visa in the future. The focus of the...
Persistent link: https://www.econbiz.de/10010687019
During the first two centuries of European colonization of what is now the United States, executions for a variety of offenses relatively frequently involved mass executions, that is, the execution for the same criminal incident of four or more persons. By the time of American independence, some...
Persistent link: https://www.econbiz.de/10010744575
In August 2007 the United Kingdom experienced its first bank run in over 140 years. Although Northern Rock was not a particularly large bank (it was at the time ranked 7th in terms of assets) it was nevertheless a significant retail bank and a substantial mortgage lender. In fact, ten years...
Persistent link: https://www.econbiz.de/10011689937
This note contextualizes the ongoing U.S. policy shift toward greater ‘regulation’ of large corporations. Cory Doctorow and Blair Fix are optimistic about this shift. We doubt it.
Persistent link: https://www.econbiz.de/10012626980
because it represents in a single case study virtually everything that can go wrong with a bank. As we argue in the first … should induce governments and regulatory authorities to consider the lessons from this particular crisis. They indicate their … Northern Rock stretched to the maximum extent the opportunities for regulatory arbitrage induced by Basel 1 and which led to …
Persistent link: https://www.econbiz.de/10004982519
National antitrust policies have potentially profound effects on global competitiveness of individual industries. Public policy interventions affecting organizational arrangements within industries, enforcement of commodity standardization, and price competition, as well as the regulation of...
Persistent link: https://www.econbiz.de/10005027144
We analyze the trading of corporate insiders at leading financial institutions during the 2007 to 2009 financial crisis. We find strong evidence of a relation between political connections and informed trading during the period in which TARP funds were disbursed, and that the relation is most...
Persistent link: https://www.econbiz.de/10011547637
This paper examines the economic consequences of institutional investors outsourcing research and voting decisions in public company elections to proxy advisory firms. We investigate the implications of these decisions in the context of shareholder say-on-pay voting required in 2011 under the...
Persistent link: https://www.econbiz.de/10011523687