Found 588 article(s) in category 'Regulation'

The Trump administration—not the Fed—has it right on bank regulation

The Trump administration—not the Fed—has it right on bank regulation. Hal Scott, July 3, 2017, Opinion, “All 34 of the largest banks in the United States, representing over 75 percent of U.S. banking assets, recently passed the Federal Reserve Board’s annual stress tests for the first time since the tests were created in 2011. However, celebration is very premature.Link

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Patent Trolling Isn’t Dead — It’s Just Moving to Delaware

Patent Trolling Isn’t Dead — It’s Just Moving to Delaware. Lauren Cohen, June 28, 2017, Paper, “For years, the small East Texas town of Marshall has held a special status in patent litigation: poster city for opportunistic “patent trolling” lawsuits brought by nonpracticing entities, firms that amass patents for the sake of pursuing license fees and litigation. Thanks to last month’s Supreme Court ruling in TC Heartland v. Kraft Foods Group, Marshall’s dominant position as a patent trolling venue may soon end. But will patent trolling be reduced overall? Unlikely.Link

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What Corporate Bankruptcy Can Teach Us About Morality

What Corporate Bankruptcy Can Teach Us About Morality. Mihir Desai, June 27, 2017, Audio, “Does the world of finance and markets needs a good infusion of humanity? One book examines how how a wider reading of the humanities can help you understand finance and — at the same time — how finance can help you understand the human condition. It’s by economist and Harvard Business School Professor Mihir Desai.  He joined Marketplace Morning Report host David Brancaccio to discuss his latest book, “The Wisdom of Finance: Discovering Humanity in the World of Risk and Return.”Link

 

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Lawrence Summers on Carbon Dividends, Border Tax, Trade

Lawrence Summers on Carbon Dividends, Border Tax, Trade. Lawrence Summers, June 20, 2017, Video, “Lawrence Summers, Harvard University Charles W. Eliot Professor and Former U.S. Treasury Secretary, discusses carbon dividends, a border adjustment tax, and U.S. trade agreements. He speaks with Bloomberg’s David Westin on “Bloomberg Daybreak: Americas.” (Source: Bloomberg)Link

 

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The Effects of Fuel Prices, Regulations, and Other Factors on U.S. Coal Production, 2008-2016

The Effects of Fuel Prices, Regulations, and Other Factors on U.S. Coal Production, 2008-2016. John Coglianese, James Stock, June 15, 2017, Paper, “As is shown in Figure 1, between 2008 and 2015, U.S. coal production fell from 1,172 million tons to 897 million tons and coal employment fell from 87,000 to 66,000. In 2016, coal production declined further, to 739 million tons, 37% below its 2008 level. It is widely understood that a primary factor in this decline has been the sharp decline in natural gas prices, which has led to the substitution of natural gas for coal in electricity generation. In 2008, the national average price of natural gas delivered to an electricity generator nationally was 4.3times the price of coal, on a Btu basis; by 2016, this relative price had fallen to 1.4 as a result of the development and spread of fracking. This national decline masks regional variation, with natural gas prices being even more competitive in some regions. For the first time, in 2016 electricity generated from gas overtook generation from coal.Link

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The Real Effects of Capital Controls: Firm-Level Evidence from a Policy Experiment

The Real Effects of Capital Controls: Firm-Level Evidence from a Policy Experiment. Laura Alfaro, June 2017, Paper, “This paper evaluates the effects of capital controls on firm-level stock returns and real investment using data from Brazil. On average, there is a statistically significant drop in cumulative abnormal returns consistent with an increase in the cost of capital for Brazilian firms following capital control announcements. Large firms and the largest exporting firms appear less negatively affected compared to external-finance-dependent firms, and capital controls on equity inflows have a more negative announcement effect on equity returns than those on debt inflows. Overall, the findings have implications for macro-finance models that abstract from heterogeneity at the firm level to examine the optimality of capital control taxation.Link

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Multinationals as Global Institution: Power, Authority and Relative Autonomy

Multinationals as Global Institution: Power, Authority and Relative Autonomy. John Gerard Ruggie, June 8, 2017, Paper, “This article aims to inform the long-standing and unresolved debate between voluntary corporate social responsibility and initiatives to impose binding legal obligations on multinational enterprises. The two approaches share a common feature: neither can fully specify its own scope conditions, that is, how much of the people and planet agenda either can expect to deliver. The reason they share this feature is also the same: neither is based on a foundational political analysis of the multinational enterprise in the context of global governance.Link

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Should Governments Invest More in Nudging?

Should Governments Invest More in Nudging? Cass Sunstein, June 5, 2017, Paper, “Governments are increasingly adopting behavioral science techniques for changing individual behavior in pursuit of policy objectives. The types of “nudge” interventions that governments are now adopting alter people’s decisions without coercion or significant changes to economic incentives. We calculated ratios of impact to cost for nudge interventions and for traditional policy tools, such as tax incentives and other financial inducements, and we found that nudge interventions often compare favorably with traditional interventions. We conclude that nudging is a valuable approach that should be used more often in conjunction with traditional policies, but more calculations are needed to determine the relative effectiveness of nudging.Link

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