Conditional value at risk (CoVaR) and marginal expected shortfall (MES) have been proposed as stock return based measures of the systemic risk created by individual financial institutions even though the literature provides no formal hypothesis test for detecting systemic risk. Our conclusion is...

We propose a model of voter decision-making in proportional representation systems: ultra-rational strategic voters construct expectations of coalitions and policy outcomes based on expected seat distributions and vote to maximize their expected utility from the implemented policy.

In this paper, we provide an economic analysis that distinguishes neutral and discriminatory state taxation of interstate commerce.

The failure of the largest banks will not generally endanger the solvency of their parent bank holding companies (BHCs), preventing the secretary of the Treasury from using single point of entry (SPOE).

This book assesses the likely consequences of tighter science budgets and suggests ways in which U.S. science can come to terms with downsizing.

This pioneering study uses the latest available data to examine the internationalization of regulation and regulatory reform.

How well did theTelecommunications Act of 1996 respond to consumer demands?

This book examines the effects of government intervention on the operations of the freight transportation industry.

The authors of this primer believe that the current approach to federal regulation urgently needs repair.

This book by Alan Viard and Robert Carroll proposes to completely replace the income tax system with a progressive consumption tax.