In the course of their growth and their more recent crisis, cryptocurrencies suffered from tremendous volatility. Volatility impaired cryptocurrencies' ability to serve the needs generally associated with currencies, i.e. serve as a store of value as well as a medium of exchange and a unit of...

As a foundational technology, blockchain technology creates the infrastructure for decentralized networked governance that, over time, creates the environment that enables the removal of internal and external monitoring mechanisms previously necessitated by agency problems in corporate...

This paper analyzes the financial regulatory structure of the US (federal level) from the point of view of information-flow. Two central discussions regarding regulation of the financial sector have been developing simultaneously: one regards the role of financial regulators in crisis prevention...

Several D.C. Circuit decisions that remanded regulations to the Securities and Exchange Commission (SEC) between 2005 and 2011 provide a natural experiment that permits researchers to identify the correlation between judicial review and the quality of regulatory agencies' economic analysis and...

The main aim of this paper is to examine the instrumental or facilitative role of law and regulation in the development of energy markets (especially gas supply to electricity markets) by highlighting relevant issues from jurisdictions such as the US, EU and Nigeria. The discussion will be...

Private entities have recently attempted to invade the realm of central banking activities. This Article identifies this activity as “Shadow Central Banking,” and draws analogies with the previous emergence of “shadow banking” more generally. The “shadow banking” system emerged as a...

The registration records at the U.S. Copyright Office provide a valuable lens on the use and performance of the copyright system, but have not yet been studied systematically. Using an original data set containing all 2.3 million registrations from 2008 to 2012, we provide a snapshot of current...

Finance has become more a problem than a solution to what the world most wants: socially inclusive economic growth. It has become a source of crises that threaten the development of the real economy. It has escaped accountability to democratic institutions and often helped, instead, to influence...