Found 623 article(s) in category 'Regulation'

Bloomberg Opinion Radio: Weekend Edition

Bloomberg Opinion Radio: Weekend Edition. Noah Feldman, May 18, 2018, Audio, “Bloomberg Opinion Weekend Edition hosted by June Grasso. Guests: Max Nisen, Bloomberg Opinion columnist: “Look in the Mirror for a Reason Drug Prices Are High.” Noah Feldman, Harvard Law School professor and Bloomberg Opinion columnist: “Sports Betting Is a Victory for States’ Rights.” Liam Denning, Bloomberg Opinion columnist: “California Puts Solar on the Roof and Up For Grabs.” Joe Nocera, Bloomberg Opinion columnist: “How Tom Wolfe’s Perspective Changed Magazines.” Mary Duenwald, Bloomberg Opinion editor: “Tax Sugar-Sweetened Drinks to Help Fight Obesity.” Link

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Trade Invoicing, Bank Funding, and Central Bank Reserve Holdings

Trade Invoicing, Bank Funding, and Central Bank Reserve Holdings. Gita Gopinath, Jeremy Stein, May 2018, Paper, “We develop a model that shows how the currency denomination of a country’s imports influences the funding structure of its banking system, and in turn, the currency composition of its central bank’s reserve holdings. The link between the dollar’s role in bank funding and its role as a central bank reserve currency is stronger when the country’s fiscal capacity is limited, and when exchange rates are volatile. In the data, there is a pronounced cross-country relationship between the fraction of imports that are dollar invoiced, and the fraction of central-bank foreign-exchange reserves that are held in dollars.Link

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Learning from Nationally Determined Contributions

Learning from Nationally Determined Contributions. Joseph Aldy, April 2018, Paper, “National governments have submitted emissions mitigation pledges under the Paris Agreement that vary considerably in form, level of required emissions mitigation, elaboration of nonemissions goals, and implementation strategies. As a result, domestic emissions mitigation programs necessary to deliver on the Paris pledges will diverge in the degree to which that mitigation will be achieved at least cost. This paper explores both what we learn from how nationally determined contributions (NDCs) diverge from least-cost policies and the implications for comparing mitigation efforts.Link

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Amazon should not be labeled a monopoly for being an effective retailer

Amazon should not be labeled a monopoly for being an effective retailer. Lawrence Summers, April 20, 2018, “Amazon should not be punished by the Trump administration for being an effective retailer, former Obama administration economic advisor Larry Summers said Friday. “I don’t think that growing by providing products at low cost is [a] monopoly,” the former Treasury secretary told CNBC’s Sara Eisen in an interview from the spring meetings of the IMF and World Bank in Washington. “Amazon is just being a really effective retailer. That is not a reason for antitrust.”Link

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Taxes for health: evidence clears the air

Taxes for health: evidence clears the air. Lawrence Summers, April 5, 2018, Opinion, “Although this argument may look appealing, clear thinking combined with good evidence reveals its many fallacies. An ethical judgment about taxing harmful products cannot rely on the question of tax regressivity alone. Rather, it requires consideration of all the effects, including the associated health…Link

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Sustainability: a new way of doing business

Sustainability: a new way of doing business. George Serafeim, March 22, 2018, Audio, “George Serafeim is the Jakurski Family Associate Professor of Business Administration at Harvard Business School. He has a wide range of research interests including international business, corporate governance and corporate reporting, with a special focus on sustainability. George has presented his research in over 60 countries and is one of the most popular business authors, according to rankings of the Social Science Research Network.Link

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The Welfare Consequences of Taxing Carbon

The Welfare Consequences of Taxing Carbon. Dale Jorgenson, 2018, Paper, “We find CO2 emissions abatement to be invariant to the chosen recycling scheme. This means that policy makers need not compromise their environmental objectives when designing carbon tax swap options. We also find additional emissions reductions beyond the scope of coverage and points of taxation.Link

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Continuing Relevance of Secular Stagnation

Continuing Relevance of Secular Stagnation. Lawrence Summers, March 13, 2018, Paper, “With the election of Donald Trump, increases in interest rates and stock prices and a possible uptick in growth interest in the secular stagnation hypothesis has waned. I argue this is a misreading of current reality. First, there may well be slack in the economy; Second, there is every reason to believe that neutral real rates have declined on a semi-permanent basis and that this will have major implications for economic performance going forward; Third, the kind of “sugar high” we are now seeing in markets is exactly what we would expect to see if neutral rates had, in fact, declined; Fourth, markets continue to forecast well below target inflation in the industrial world.Link

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