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Articles 1 - 8 of 8
Full-Text Articles in Law
Benchmark Regulation, Gina-Gail S. Fletcher
Benchmark Regulation, Gina-Gail S. Fletcher
Articles by Maurer Faculty
Benchmarks are metrics that are deeply embedded in the financial markets. They are essential to the efficient functioning of the markets and are used in a wide variety of ways-from pricing oil to setting interest rates for consumer lending to valuing complex financial instruments. In recent years, benchmarks have also been at the epicenter of numerous, multi-year market manipulation scandals. Oil traders, for example, deliberately execute trades to drive benchmarks lower artificially, allowing the traders to capitalize on the manipulated benchmarks. This ensures that later trades relying on the benchmarks will be more profitable than they otherwise would have been. …
Three Essays On Tax Salience: Market Salience And Political Salience, David Gamage, Darien Shanske
Three Essays On Tax Salience: Market Salience And Political Salience, David Gamage, Darien Shanske
Articles by Maurer Faculty
This Article analyzes the literatures on how individuals understand taxation (i.e., tax salience). We evaluate how taxpayers respond to different presentations of tax prices both in their roles as market participants and as voters. We aim to combat naïve notions about tax salience that currently exert a pernicious influence on tax lawmaking. In particular, we argue that it is normatively desirable for governments to reduce tax salience with respect to market decision making, and that there is nothing objectionable about governments reducing tax salience with respect to political decision making.
Preventing State Budget Crises: Managing The Fiscal Volatility Problem, David Gamage
Preventing State Budget Crises: Managing The Fiscal Volatility Problem, David Gamage
Articles by Maurer Faculty
Forty-nine of the U.S. states have balanced budget requirements, and every state acts as though bound by such constraints. These constraints create fiscal volatility - the states must either cut spending or raise taxes during economic downturns, while doing the opposite during upturns. This paper discusses how states should cope with fiscal volatility on both the levels of ordinary politics and of institutional-design policy. On the level of ordinary politics, the paper applies principles of risk allocation theory to conclude that states should primarily adjust the rates of broad-based taxes as their economies cycle, rather than fluctuating public spending. States …
From Odious Debt To Odious Finance: Avoiding The Externalities Of A Functional Odious Debt Doctrine, Christiana Ochoa
From Odious Debt To Odious Finance: Avoiding The Externalities Of A Functional Odious Debt Doctrine, Christiana Ochoa
Articles by Maurer Faculty
This Article looks at the generally agreed upon characteristics of the odious debt doctrine and considers the unintended consequences and externalities that would ensue if this doctrine were ever made regularly operative. The enlivened scholarly debate surrounding the odious debt doctrine assumes that debt is the sole finance vehicle for despotic governments. This is simply not the case.
Debt is not the sole finance vehicle; despots are able to raise funds through a wide variety of other methods. These include the pillaging of the nation's natural resources, property, and other valuable asset as well as the exploitation of the nation's …
Book Review. The Price Of Progress: Public Services, Taxation And The American Corporate State, 1877-1929 By R. Rudy Higgens-Evenson, Ajay K. Mehrotra
Book Review. The Price Of Progress: Public Services, Taxation And The American Corporate State, 1877-1929 By R. Rudy Higgens-Evenson, Ajay K. Mehrotra
Articles by Maurer Faculty
No abstract provided.
Municipal Securities Market: Same Problems -- No Solutions, Ann Judith Gellis
Municipal Securities Market: Same Problems -- No Solutions, Ann Judith Gellis
Articles by Maurer Faculty
This article examines the existing regulations of the municipal securities market, focusing on what activities prompted the regulatory changes and analyzing the direction and efficacy of these regulations in terms of the deficiencies in the market. Part One gives a background sketch of the market and its participants from the time of the New York City fiscal crises to today. Part Two discusses whether the existing regulation is sufficient to produce disclosure, focusing on the Orange County crises. Part Three offers a critique of the current regulatory scheme and makes some suggestions for reform.
Financing Construction On Long Term Leasehold Estates, Douglass Boshkoff
Financing Construction On Long Term Leasehold Estates, Douglass Boshkoff
Articles by Maurer Faculty
No abstract provided.
University's Professional Schools Ranked Among Best, Wiiliam A. Rawles, Barton D. Myers, Charles M. Hepburn
University's Professional Schools Ranked Among Best, Wiiliam A. Rawles, Barton D. Myers, Charles M. Hepburn
Charles Hepburn (1918-1925)
No abstract provided.