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Articles 1 - 30 of 106
Full-Text Articles in Law
Interest Rates, Venture Capital, And Financial Stability, Hilary J. Allen
Interest Rates, Venture Capital, And Financial Stability, Hilary J. Allen
Articles in Law Reviews & Other Academic Journals
Following several prominent bank failures and as central banks continue to tighten interest rates to fight inflation, there is increasing interest in the relationship between monetary policy and financial stability. This Article illuminates one path through which the prolonged period of low interest rates from 2009-2021 has impacted financial stability: it traces how yield-seeking behavior in the wake of the Global Financial Crisis and Covid pandemic led to a bubble in the venture capital industry, which in turn spawned a crypto bubble as well as a run on the VC-favored Silicon Valley Bank. This Article uses this narrative to illustrate …
Corporate Consolidation Of Rental Housing & The Case For National Rent Stabilization, Brandon Weiss
Corporate Consolidation Of Rental Housing & The Case For National Rent Stabilization, Brandon Weiss
Articles in Law Reviews & Other Academic Journals
Rental housing in the United States is increasingly owned by corporate landlords that operate under a different set of incentives, behind a level of anonymity previously unavailable, and pursuant to practices that often exacerbate an already precarious housing landscape for tenants. Marketsensitive and nuanced rent stabilization laws have reemerged at the state and local level as a viable policy option to help regulate escalating rents and prevent tenant displacement. These laws, when well drafted, can address outdated critiques of strict rent caps and can complement alternative approaches, like those of the politically popular Yes In My Backyard (YIMBY) movement, which …
Navajo Statehood: From Domestic Dependent Nation To 51st State, Ezra Rosser
Navajo Statehood: From Domestic Dependent Nation To 51st State, Ezra Rosser
Articles in Law Reviews & Other Academic Journals
The Supreme Court’s recent holding in Oklahoma v. Castro-Huerta that “Indian country is part of the State, not separate from the State” is a reminder of tribal sovereignty’s precarious foundation under U.S. law. The Court’s holding not only broke with longstanding precedent regarding the relationship between tribes and states, but it is also incompatible with the lived experience of those living in the Navajo Nation. The Navajo Nation, not the states and not the federal government, has primary responsibility for governing an area roughly the size of West Virginia. Yet most maps of the United States demarcate only state boundaries, …
Defi: Shadow Banking 2.0?, Hilary J. Allen
Defi: Shadow Banking 2.0?, Hilary J. Allen
Articles in Law Reviews & Other Academic Journals
The growth of so-called “shadow banking” was a significant contributor to the financial crisis of 2008, which had huge social costs that we still grapple with today. Our financial regulatory system still hasn’t fully figured out how to address the risks of the derivatives, securitizations, and money market mutual funds that comprised Shadow Banking 1.0, but we’re already facing the prospect o fShadow Banking 2.0in the form of decentralized finance, or “DeFi.” DeFi’s proponents speak of a future where sending money is as easy as sending a photograph–but money is not the same as a photograph. The stakes are much …
"Use And Improve" Is My Accountability Mantra, Despite 30 Years Of Eye-Opening Disappointments, Natalie Bridgeman Fields
"Use And Improve" Is My Accountability Mantra, Despite 30 Years Of Eye-Opening Disappointments, Natalie Bridgeman Fields
Perspectives
This essay finds justification for championing the continued existence, functioning and evolution of Independent Accountability Mechanisms (IAMs). An inside assessment of the thirty-year functioning of IAMs reveals that inadequate power and independence are severely hampering IAM efforts to hold actors accountable for harm. Simultaneously, IAMs can’t make progress without the underlying financial institutions reforming their incentive structures to reward harm prevention and remedy. Despite decades of systemic failure to deliver accountability, when exceptions happen, they are worth it and can be spectacular. With an influx of new climate-related funding expected at the financial institutions, exceptions need to become the rule. …
An Increased Normalization Of Iams Faces Ground Realities: Lack Of Transparency Impedes Access To Iams, Hamid Sharif
An Increased Normalization Of Iams Faces Ground Realities: Lack Of Transparency Impedes Access To Iams, Hamid Sharif
Perspectives
The creation of the Inspection Panel at the World Bank has led to the emergence of a norm that international financial institutions (IFIs) must hold themselves accountable to project-affected people through independent accountability mechanisms (IAMs). AIIB as a 21st century bank reflects this normalization of IAMs. As a new MDB, AIIB’s charter mandates creation of an oversight body that includes the independent accountability mechanism or the Project-affected People’s mechanism (PPM). The PPM is aligned with many features of IFI’s IAMs while incorporating some innovations.
The central question asked by civil society and board members across IFIs is why there …
Between Disruption And Legitimation Of Development: A Critical Perspective On The Inspection Panel And A Call For More Radical Thinking Within The Accountability Community, Dustin Schäfer
Perspectives
The essay explores the Inspection Panel’s (the Panel) conflicting role of providing accountability for negatively affected people while facing political limitations. The Panel has proven its potential to disrupt harmful development practices. However, by reproducing “dev-speak” it also continuously contributes to legitimizing the same assumptions of “how to do development”, and thus to the continuation of harmful development practices. This ambivalent effect is inherent to the Panel because of its politically inhibited and depoliticized (i.e. technocratic) environment. To overcome this long-lasting and structural condition will require critical examination of the concept of development and the role it plays in …
Are The Mdbs Accountable? Reflecting On The Independent Accountability Mechanisms Of The Multilateral Development Banks, Susan Park
Perspectives
The International Accountability Mechanisms of the Multilateral Development Banks provide important insights into how to hold intergovernmental organizations to account for their environmental and social impacts. This perspective identifies how the IAMs hold the Banks to account according to the six standard questions of accountability: who is accountable, to whom, for what are they accountable, and what are the standards, processes, and sanctions employed to demonstrate that the MDBs are accountable. This highlights what the IAMs can and cannot hold the MDBs to account for, and how this might shape further international grievance mechanisms for people seeking to defend their …
The Inspection Panel Early Years (An Inside Story), Eduardo G. Abbott
The Inspection Panel Early Years (An Inside Story), Eduardo G. Abbott
Perspectives
This retrospective analysis explores the establishment and evolution of the World Bank Inspection Panel, from the perspective of the Panel’s first executive secretary. The Perspective describes the initial expectations, challenges, and concerns faced by the first Panel members as they wrestled to operationalize an unprecedented institution. The Perspective documents the strategic actions the Panel took to safeguard its independence and ensure its accessibility to potential claimants. The Perspective concludes with a review of the Panel’s contemporary struggles for autonomy prompted by a restructuring of the Panel and the evolving landscape of accountability mechanisms within the World Bank Group.
Brief Of Amici Curiae In Support Of Applicant' Application To Vacate The Injunction In Biden V. Nebraska, Jeffrey Lubbers
Brief Of Amici Curiae In Support Of Applicant' Application To Vacate The Injunction In Biden V. Nebraska, Jeffrey Lubbers
Amicus Briefs
Amici curiae are law professors at law schools around the nation. They respectfully move for leave to file the enclosed brief in support of Applicants' application to vacate the injunction entered by the United States Court of Appeals for the Eighth Circuit pending appeal of the preliminary injunction issued by the United States District Court for the Eastern District of Missouri, including leave to file without ten days' notice to the parties, as ordinarily required by this Court's Rule 37.2(a), and leave to file in 8½-by-11-inch format, as provided in Rule 33.2.
On The Misuse Of Regressions Of Price On The Hhi In Merger Review, Jonathan Baker
On The Misuse Of Regressions Of Price On The Hhi In Merger Review, Jonathan Baker
Articles in Law Reviews & Other Academic Journals
The article explains why regressions of price on HHI should not be used in merger review. Both price and HHI are equilibrium outcomes determined by demand, supply, and the factors that drive them. Thus, a regression of price on the HHI does not recover a causal effect that could inform the likely competitive effects of a merger. Nonetheless, economic theory is consistent with the legal presumption that a merger is likely to have adverse competitive effects if it occurs in a concentrated market and makes that market more concentrated.
A Novel Dataset Measuring Change In Copyright Exceptions, Michael Palmedo
A Novel Dataset Measuring Change In Copyright Exceptions, Michael Palmedo
Joint PIJIP/TLS Research Paper Series
Copyrights grant creators long periods of market exclusivity during which they or their agents have the exclusive right to reproduce and distribute their works. However, copyright exceptions limit their scope and strength. The laws on both copyright protection and copyright exceptions vary substantially from one country to the next. This working paper introduces a novel, survey-based dataset that describes changes to 24 countries’ laws on copyright exceptions over time. To explore the data, I construct two indices from subsets of the dataset; one that focus on exceptions related to ICT technologies and another that focuses on educational uses. The indices …
Court Personalities And Impoverished Parents, Ezra Rosser
Court Personalities And Impoverished Parents, Ezra Rosser
Articles in Law Reviews & Other Academic Journals
Professor Tonya Brito's in-depth examination of the pursuit of child support from poor fathers continues to pay significant dividends that extend well beyond family law. Producing Justice in Poor People's Courts: Four Models of State Legal Actors highlights the that differing personalities and approaches can have on impoverished parents involved in child-support-enforcement disputes before the courts. Based on an impressive ethnographic study, Brito's article shows how the actors involved craft stories about impoverished family dynamics as a way to make sense of their own role and complicity in an often unjust system of regulating poor families.
It's All About Pasta: Protectionism, Liberalization, And The Challenge For Quality And Sustainability Of Made In Italy, Fernanda Giorgia Nicola Dr., Gino Scaccia
It's All About Pasta: Protectionism, Liberalization, And The Challenge For Quality And Sustainability Of Made In Italy, Fernanda Giorgia Nicola Dr., Gino Scaccia
Articles in Law Reviews & Other Academic Journals
This article traces the evolution of the regulation of Italian pasta from the beginning of the twentieth century until today. We show how during Fascism the production of wheat became a national battle, and pasta turned out to be the traditional product promoted by Mussolini's propaganda. During the 1960s, new regulations of Italian pasta made exclusively with durum wheat contributed to strengthening the Italian industry during the nation's economic boom. Spaghetti became a global symbol of the Dolce Vita, linking Italian pasta to a fashionable and aesthetically desirable way of life. The Italian Parliament adopted a law that obligated the …
Shelter Mobility, And The Voucher Program, Ezra Rosser
Shelter Mobility, And The Voucher Program, Ezra Rosser
Articles in Law Reviews & Other Academic Journals
What is to be done about the poor and about poor neighborhoods? When it comes to housing policy, the current hope is that the Housing Choice Voucher Program (formerly the Section 8 Voucher Program) can provide an or ambitiously the answer to this perennial societal question. By piggybacking on the private rental market, the voucher program supposedly has numerous advantages over traditional, project-based, public housing. Not only is it less costly to house poor people in privately owned units compared to the cost of constructing and maintaining public housing, but the voucher program also offers the possibility of deconcentrating the …
Prosecuting Foreign Bribery In National Projects: A Multi-Phased Approach To Reduce Corruption, Julia E. Johnson
Prosecuting Foreign Bribery In National Projects: A Multi-Phased Approach To Reduce Corruption, Julia E. Johnson
American University Business Law Review
The gradual establishment of an international mechanism to review and prosecute allegations of corruption could help to deter fraudulent conduct. Fraudulent conduct often reduces the economic benefits associated with large-scale development or investment projects. These projects are generally awarded through contract bidding; the bidding outcome may be dictated by bribery and other corrupt behaviors by local officials overseeing the project. The money earmarked for the project may in turn be siphoned off to the bribe recipients for private gain, leaving citizens unable to appreciate the fruits of any such project. For this reason, reducing corruption should remain a key priority. …
Race, Space And Democracy: Locally-Based Strategies For Development - Panel Discussion From Fourth National People Of Color Legal Scholarship Conference, Hosted At The American University Washington College Of Law, Ezra Rosser, Audrey Mcfarlane, Erika Wilson, Michele Alexander
Race, Space And Democracy: Locally-Based Strategies For Development - Panel Discussion From Fourth National People Of Color Legal Scholarship Conference, Hosted At The American University Washington College Of Law, Ezra Rosser, Audrey Mcfarlane, Erika Wilson, Michele Alexander
Articles in Law Reviews & Other Academic Journals
Panel Discussion from Fourth National People of Color Legal Scholarship Conference, Hosted at the American University Washington College of Law:
[Audrey McFarlane] Alright, good morning everyone, thank you for joining us. This is the race, space, and democracy panel, locally based strategies for
development. Right now we have with us, me. I'm Audrey McFarlane. I'm a professor at the University of Baltimore. We also have Erika Wilson, who is a professor at the University of North Carolina. I'm going to dispense with the long bios, and commend you to the program guide for the long bios. Suffice it to say, …
Driverless Finance, Hilary J. Allen
Driverless Finance, Hilary J. Allen
Articles in Law Reviews & Other Academic Journals
While safety concerns are at the forefront of the debate about driverless cars, such concerns seem to be less salient when it comes to the increasingly sophisticated algorithms driving the financial system. This Article argues, however, that a precautionary approach to sophisticated financial algorithms is justified by the potential enormity of the social costs of financial collapse. Using the algorithm-driven fintech business models of robo-investing, marketplace lending, high frequency trading and token offerings as case studies, this Article illustrates how increasingly sophisticated algorithms (particularly those capable of machine learning) can exponentially exacerbate complexity, speed and correlation within the financial system, …
Labor, Trade, And Populism: How Ilo-Wto Collaboration Can Save The Global Economic Order, Sungjoon Cho, Cesar F. Rosado-Marzan
Labor, Trade, And Populism: How Ilo-Wto Collaboration Can Save The Global Economic Order, Sungjoon Cho, Cesar F. Rosado-Marzan
American University Law Review
Populists are trying to take down the global economic order and its institutions. While some of those forces might be fueled by racism, they also play to legitimate social concerns that include massive plant closings and deindustrialization, inadequate skills programs, and lack of decent jobs. Some of these problems also concern the Global South, as workers there face exploitation, unhealthy working conditions, and other social ills caused by global capitalism. In light of these problems, this Article argues that the International Labor Organization (ILO) should design new conventions on lead firm liability and mass layoffs. While other scholars and policymakers …
Stay In The Fight With Civility And Professionalism, David Spratt
Stay In The Fight With Civility And Professionalism, David Spratt
Articles in Law Reviews & Other Academic Journals
No abstract provided.
Experimental Strategies For Regulating Fintech, Hilary J. Allen
Experimental Strategies For Regulating Fintech, Hilary J. Allen
Articles in Law Reviews & Other Academic Journals
Faced with new technologies that confound existing financial regulatory structures, regulators around the world have been experimenting with new approaches to regulating fintech. The most prominent of these experiments have been innovator-focused programs that provide guidance (and in the case of regulatory sandboxes, regulatory relief) to private sector firms, in order to help them navigate a confusing thicket of financial regulation that might otherwise impede their innovation. These innovator-focused programs can improve efficiency and competition in the provision of financial services, but can – at best – only make incidental contributions to the financial regulatory goals of consumer and investor …
Sandbox Boundaries, Hilary J. Allen
Sandbox Boundaries, Hilary J. Allen
Articles in Law Reviews & Other Academic Journals
Around the world, subnational and national regulatory sandboxes are being adopted in an effort to promote fintech innovation. These regulatory sandboxes seek to achieve this by rolling back some of the consumer protection and prudential regulations that would otherwise apply to the firms trialing their financial products and services in the sandbox. While sacrificing such protections in order to promote innovation is problematic, such sacrifice may nonetheless be justifiable if, by working with innovators in the sandbox, regulators are educated about new technologies in a way that enhances their ability to effectively promote consumer protection and financial stability in other …
Reclaiming Place-Based Development Incentive, Ezra Rosser
Reclaiming Place-Based Development Incentive, Ezra Rosser
Articles in Law Reviews & Other Academic Journals
Professor Michelle Layser's forthcoming article is an attack on the current form of place-based tax incentive programs. Layser argues that while rhetorically such programs are said to help the poor, by design they support gentrification in ways that harm the poor. The article ends with a call to reform place-based incentive programs so that the poor in selected areas actually benefit.
Federal Courts And The Poor: Lack Of Standards And Uniformity In Civil In Forma Pauperis Pleadings, Ezra Rosser
Federal Courts And The Poor: Lack Of Standards And Uniformity In Civil In Forma Pauperis Pleadings, Ezra Rosser
Articles in Law Reviews & Other Academic Journals
Andrew Hammond's article, Pleading Poverty in Federal Court, shows that there is considerable variation in how federal courts consider requests by the poor for fee waivers in civil litigation. Courts not only use different forms to collect ability-to-pay information but they also apply different standards when determining whether fees should be waived. By focusing attention on federal court in forma pauperis motion practices, Hammond's article sheds light on how the poor can be negatively impacted by routine court practices that might ordinarily be treated as merely administrative. Hammond makes a convincing argument that federal courts should have uniform standards for …
How The Sec Can Help Mitigate The "Proactive" Agency Costs Of Agency Capitalism, Bernard S. Sharfman
How The Sec Can Help Mitigate The "Proactive" Agency Costs Of Agency Capitalism, Bernard S. Sharfman
American University Business Law Review
No abstract provided.
Unravelling China's Gradual Approach To Equity Crowdfunding Regulation, Chen Li, Yu Qianqian
Unravelling China's Gradual Approach To Equity Crowdfunding Regulation, Chen Li, Yu Qianqian
American University Business Law Review
No abstract provided.
Not All Virtual Currencies Are Created Equal: Regulatory Guidance In The Aftermath Of Cftc V. Mcdonnell, Allen Kogan
Not All Virtual Currencies Are Created Equal: Regulatory Guidance In The Aftermath Of Cftc V. Mcdonnell, Allen Kogan
American University Business Law Review
No abstract provided.
Why Central Banks Need To Take Human Rights More Seriously, Daniel D. Bradlow
Why Central Banks Need To Take Human Rights More Seriously, Daniel D. Bradlow
Articles in Law Reviews & Other Academic Journals
Most central bankers think that there is a tenuous connection between the operations of central banks and human rights. Their responsibility is to concentrate on the relatively narrow set of macro-economic variables that are relevant to their mandates and to leave to their country’s political leadership the decisions dealing with the complex and politically sensitive variables that affect the functioning of the economy and society.
This position is no longer tenable. Climate change is forcing the central banking community to rethink their view of their responsibilities. The recent release of the Network for Greening, the Financial System’s first comprehensive report …
The Regulatory Accountability Act Loses Steam But The Trump Executive Order On Alj Selection Upturned 71 Years Of Practice, Jeffrey Lubbers
The Regulatory Accountability Act Loses Steam But The Trump Executive Order On Alj Selection Upturned 71 Years Of Practice, Jeffrey Lubbers
Articles in Law Reviews & Other Academic Journals
No abstract provided.
Multilateral Development Banks, Their Member States And Public Accountability: A Proposal, Daniel D. Bradlow
Multilateral Development Banks, Their Member States And Public Accountability: A Proposal, Daniel D. Bradlow
Articles in Law Reviews & Other Academic Journals
More than 25 years ago the multilateral development banks (MDBs) began establishing independent accountability mechanisms (IAMs), such as the World Bank’s Inspection Panel, to address concerns about MDB accountability to those communities and groups who were harmed by their decisions and actions. This essay argues that these mechanisms need updating. In the interests of promoting new and creative thinking about these mechanisms, it makes an ambitious two-part proposal designed to improve the efficacy of the IAMs, while also respecting the sovereignty of their member states and protecting an appropriate level of immunity for the MDBs. First, the MDBs should jointly …