Found 573 article(s) in category 'Regulation'

Disclosure Is the Best Kind Of Credit Regulation

Disclosure Is the Best Kind Of Credit Regulation. Cass Sunstein, August 13, 2008, Opinion. “The Federal Reserve Board recently issued proposed amendments to Regulation Z, which governs Truth in Lending. According to the Fed, the amendments ‘are intended to improve the effectiveness of the disclosures consumers receive in connection with credit card accounts and other revolving credit plans by ensuring that information is provided in a timely manner and in a form that is readily understandable.’ The Fed’s interest in this problem should be applauded, especially in light of the consumer credit crisis…” Link

Tags: , ,

The Greenness of Cities: Carbon Dioxide Emissions and Urban Development

The Greenness of Cities: Carbon Dioxide Emissions and Urban Development. Edward Glaeser, August 2008, Paper. “Carbon dioxide emissions may create significant social harm because of global warming, yet American urban development tends to be in low density areas with very hot summers. In this paper, we attempt to quantify the carbon dioxide emissions associated with new construction in different locations across the country. We look at emissions from driving, public transit, home heating, and household electricity usage. We find that the lowest emissions areas are generally in California and that the highest emissions…” Link

Tags: , ,

Clean Water Act Brief

Clean Water Act Brief. Robert Stavins, Richard Zeckhauser, July 21, 2008, Brief. “As economists, we believe that the Second Circuit’s ruling, by not allowing the consideration of important information about the relationships between the benefits and costs of alternatives, is economically unsound. In particular, we believe that, as a general principle, regulators cannot make rational decisions unless they are allowed to compare costs and benefits and to use the results, along with other factors as appropriate, to choose among alternatives. To the extent permissible under the statute and case law, EPA should be allowed to consider benefits…” Link

Tags: , ,

Rarely Utilized – The Georgia Business Trust Code

Rarely Utilized – The Georgia Business Trust Code. James Robinson, 2008, Paper. “This group of statutory provisions-let us call it the” Georgia business trust code,” for want of a better title-has been carried over from revision to revision of the Trust Act. Indeed, the proposed draft of the revamped Trust Act (now called the Georgia Trust Code) currently in …Link

Tags: , , ,

Bank Accounting Standards in Mexico: A Layman’s Guide to Changes 10 Years after the 1995 Bank Crisis

Bank Accounting Standards in Mexico: A Layman’s Guide to Changes 10 Years after the 1995 Bank Crisis Aldo Musacchio, April 2, 2008, Paper.  “After the 1995 crisis, the Mexican banking system experienced significant changes in bank accounting standards. Most of these changes took place between 1996 and 2001, and had a significant impact in the structure and interpretation of financial information of banks. This document explains the major changes on bank accounting, their purpose and structure, and discusses their impact on financial information reported by Mexican banks. It also provides the English equivalent of…” Link

Tags: , ,

Political and Judicial Checks on Corruption: Evidence from American State Governments

Political and Judicial Checks on Corruption: Evidence from American State Governments. James E. Alt, March 2008, Paper. “This paper investigates the effects of checks and balances on corruption. Within a presidential system, effective separation of powers is achieved under a divided government, with the executive and legislative branches being controlled by different political parties. When government is unified, no effective separation exists even within a presidential system, but, we argue, can be partially restored by having an accountable judiciary…” Link

Tags: ,

Is the 2007 US Sub-Prime Financial Crisis So Different? An International Historical Comparison

Is the 2007 US Sub-Prime Financial Crisis So Different? An International Historical Comparison. Carmen M. Reinhart, Kenneth Rogoff, 2008, Paper. “The first major financial crisis of the twenty-first century involves esoteric instruments, unaware regulators. and skittish investors. It also follows a well-trodden path laid down by centuries of financial folly. Is the “special” problem of sub-prime mortgages really different? Our examination of the longer historical record. which is part of a larger effort on currency and debt crises, finds stunning qualitative and quantitative parallels across a number of standard financial crisis indicators…” Link

Tags: , , ,

The Unequal Effects of Liberalization: Evidence from Dismantling the License Raj in India

The Unequal Effects of Liberalization: Evidence from Dismantling the License Raj in India. Philippe Aghion, 2008, Paper. “We study whether the effects on registered manufacturing output of dismantling the License Raj—a system of central controls regulating entry and production activity in this sector—vary across Indian states with different labor market regulations. The effects are found to be unequal across Indian states with different labor market regulations…” Link

Tags: ,

Debt Enforcement Around the World

Debt Enforcement Around the World. Andrei Shleifer, Oliver Hart, 2008, Paper. “Insolvency practitioners from 88 countries describe how debt enforcement will proceed against an identical hotel about to default on its debt. We use the data on time, cost, and the likely disposition of the assets (preservation as a going concern vs. piecemeal sale) to construct a measure of the efficiency of debt enforcement in each country. This measure is strongly correlated with per capita income and legal origin and predicts debt market development. Several characteristics of debt enforcement procedures, such as the structure of appeals and…” Link

Tags: , ,

The Economic Consequences of Legal Origins

The Economic Consequences of Legal Origins. Andrei Shleifer, 2008, Paper. “In the last decade, economists have produced a considerable body of research suggesting that the historical origin of a country’s laws is highly correlated with a broad range of its legal rules and regulations, as well as with economic outcomes. We summarize this evidence and attempt a unified interpretation. We also address several objections to the empirical claim that legal origins matter. Finally, we assess the implications of this research for economic reform.” Link

Tags: ,