Worldwide, commercial drone services are being tested and permitted. Progress in the United States has been slow, in part because of a lack of clarity about the federal and state roles over drones and airspace management. To jump-start the drone industry, states can create drone highways —...

Predatory lending, the origination of loans with abusive terms to homeowners, is rampant in the subprime mortgage market. In the last few years, many states responded to this problem by enacting consumer protection laws. Large segments of the lending industry have opposed these laws. In large...

Italian Abstract: Con la riforma del Titolo V della Costituzione del 2001 è stata realizzata una profonda revisione dell'assetto costituzionale secondo un orientamento federalista, che ha determinato – tra le altre cose – un ampio trasferimento di competenze legislative alle Regioni. Il...

Resentment of the federal government's management of public lands runs deep in the arid West, where grazing, mining, and timber once predominated and remain important to rural communities. This resentment bubbled over in 2016 with the armed occupation of the Malheur National Wildlife Refuge in...

Politicians connected to elites who anticipated benefiting from the 1866 Post Roads Act overcame the problem of collective action and passed pro-consumer legislation over the objections of a concentrated economic interest. Mancur Olson's (1965, 1982) theory on the cost of collective action...

This paper proposes a simple and crude way of approximating the XVA sensitivities. In short, the idea is simply to recycle the existing base simulated portfolio values for the bumped ones. This is done by re-simulating the risk factors for the bumped market and finding out which other base state...

There is an increasing consensus within banks, on the need to recognize the impact of rising capital requirements on their derivative business in the form of capital valuation adjustment (KVA). However, because of varied reasons, there are still concerns over how exactly KVA should be computed,...