Law Commons^™

Lending Discrimination: Economic Theory, Econometric Evidence, And The Community Reinvestment Act, Keith N. Hylton, Vincent D. Rougeau

Faculty Scholarship

Although it has been settled law for almost two decades, there has been a heightened interest in the Community Reinvestment Act (CRA) over the last several years. One factor driving this interest is the continuing economic decline of the inner cities and the consequent widening of the wealth gap between cities and surrounding suburbs in many areas of the country. A second factor is the consolidation of the banking industry, which has encouraged expansion-oriented banks to improve their CRA ratings to gain the approval of regulators. A recent effort to enhance enforcement of the statute, in part the result of …

A Primer On Prejudgment Interest, Michael S. Knoll

All Faculty Scholarship

No abstract provided.

Risky Business, Michael S. Baram

Faculty Scholarship

In prior studies by high-level commissions, emphasis was given to improving the scientific basis and institutional procedures for risk assessment and risk regulation within existing statutory frameworks. Recommendations have led to slow but steady progress. This study is considerably different. It emphasizes a public health approach for efficient use of resources in a new flexible framework for risk management, reductionist approaches to risk assessment and characterization, increased public involvement, and various methods for managing such public involvement. It provides a mix of aspirations and concepts, procedures, and "shop floor rules" for putting the new system of risk management into practice. …

Toward A Tax-Based Explanation Of The Liability Insurance Crisis, Kyle D. Logue

Articles

The so-called liability insurance crisis of 1985 and 1986 transformed the way we think about tort law and about liability insurance markets. The crisis phenomena, which first appeared in late 1984 and lasted until mid-1986, consisted of enormous increases in liability insurance premiums and alarming reductions in the availability of certain types of liability coverage. In the two principal liability lines of insurance (Other Liability and Medical Malpractice), premiums increased by hundreds (in some cases thousands) of percentage points in a matter of months. At the same time, the availability of liability insurance contracted sharply. The liability policies that were …

Economic Foundations Of The Current Regulatory Reform Efforts, W. Kip Viscusi

Vanderbilt Law School Faculty Publications

Almost since the inception of the risk and environmental agencies in the early 1970s, there has been a continuing concern with ensuring that regulations yield societal benefits commensurate with their costs. This recognition of the need for balance, in turn, has led policymakers to seek a greater role for economists, and the principles of economic analysis undoubtedly will continue to play a central role in the debate over the future of regulatory policy.

Essential Elements Of Amendments To The Endangered Species Act, John Harja

Biodiversity Protection: Implementation and Reform of the Endangered Species Act (Summer Conference, June 9-12)

14 pages.

Endangered Species Act Reform Proposals: An Environmentalist’S Perspective, Wm. Robert Irvin

Biodiversity Protection: Implementation and Reform of the Endangered Species Act (Summer Conference, June 9-12)

11 pages.

The Endangered Species: The Urban Water Utility Perspective, Chips Barry

Biodiversity Protection: Implementation and Reform of the Endangered Species Act (Summer Conference, June 9-12)

24 pages.

The Endangered Species Act—Economic Impacts: The Perception And The Numbers, Jon A. Souder

Biodiversity Protection: Implementation and Reform of the Endangered Species Act (Summer Conference, June 9-12)

13 pages (includes illustrations).

Contains 2 pages of references.

Agenda: Biodiversity Protection: Implementation And Reform Of The Endangered Species Act, University Of Colorado Boulder. Natural Resources Law Center

Biodiversity Protection: Implementation and Reform of the Endangered Species Act (Summer Conference, June 9-12)

Conference organizers and/or faculty included University of Colorado School of Law professors Betsy Rieke, David H. Getches, Michael A. Gheleta and Charles F. Wilkinson.

All across the country--in Congress, in state legislatures and in urban and rural communities--people are discussing why we should or should not protect biodiversity and how best to do so. Since the Endangered Species Act is up for reauthorization, a variety of reform proposals are being debated. Speakers--including natural resource scholars, experts from the private and nonprofit sectors, and government officials--will examine the rationale for biodiversity protection, the legal framework of the Endangered Species Act, and …

How Will Welfare Recipients Fare In The Labor Market?, Jeffrey S. Lehman, Sheldon Danziger

Cornell Law Faculty Publications

No abstract provided.

Takings From Freund To Fischel." Review Of Regulatory Taking: Law, Economics, And Politics, By W. A. Fischel, James E. Krier

Reviews

The regulatory takings problem is easy to describe but difficult to resolve. The government enacts restrictions on land use that reduce the market value of the targeted parcels by a considerable amount. The restrictions are couched in terms of the police power, but actually they might amount to a taking that requires compensation, not because any of the land has been wrested away (it hasn't), but because much of the value has. Through the police power the government gets to govern for free, whereas with takings it's pay as you go. On what does the distinction-police power or taking-depend?

Legal Aspects Of The New International Economic Order - Moving Towards A Viable Framework For Development In Sub-Saharan Africa, Idara Ekaete Bassey

LLM Theses and Essays

While the primary objective of the United Nations is to maintain peace and security, Article 55 of the Charter also tasks the U.N. with facilitating higher standards of living, full employment, and social and economic development. To achieve this goal, the U.N. adopted three instruments which make up the New International Economic Order (NIEO). This thesis assesses the goals for development in the Third World, focusing on sub-Saharan Africa, and the NIEO’s capacity to serve in that regard. Sub-Saharan Africa is larger in land area than the U.S. and has abundant natural resources and agricultural land, so the basis for …

Major Changes In Council Regulation 3283/94: Its Compatibility With The Uruguay Round Anti-Dumping Code, Sangsoo Son

LLM Theses and Essays

Dumping can be defined as exporting goods at prices below those charged on the domestic market or at prices insufficient to recover the cost of the goods sold. Dumping is considered an unfair trading practice because it interferes with free market economy principles. During the 1980s, anti-dumping measures were an important issue for a few developed countries that had attractive markets for foreign producers; these countries were the United States, the European Community, Canada, and Australia. The European Community (EC) has developed its own anti-dumping laws over the years; Article 113 of the EEC Treaty gives power to Community institutions …

Analysis Of The U.S. Regulations Of Derivatives: Does The Use Of Such Complicated Instruments Pose A Serious Threat To The Safety And Soundness Of The U.S. Banking System?, Erwin De Deyn

LLM Theses and Essays

In the last fifteen years, the globalization of financial markets and institutions along with innovative investment strategies have caused an irreversible revolution in the world’s financial markets. Investors and managers can now use new instruments, such as derivatives, for guarding against financial risks. Derivatives are financial instruments whose returns are derived from other assets or variables, like futures and options. The growth of derivative markets has accelerated rapidly in the last ten years, which has caused financial markets in the United States and throughout the world to be more efficient, which contributes to economic welfare. However, the dramatic growth in …

Increasing Recognition Of Enterprise Principles In Determining Parent And Subsidiary Corporation Liabilities, The, Phillip Blumberg

Faculty Articles and Papers

No abstract provided.

The Implications Of The New Regime For Global Competition Policy: Intellectual Property Rights, Economic Power, And Global Technological Integration, David J. Gerber

All Faculty Scholarship

No abstract provided.

The Need For The Harmonisation Of Trade Laws In The Southern African Development Community (Sadc), Muna Ndulo

Cornell Law Faculty Publications

No abstract provided.

The Past, Present, And Future Of Law And Economics, George A. Hay

Cornell Law Faculty Publications

Any discussion about law and economics ought to begin with a definition or at least an explanation of what it is we are talking about. There is, however, a risk in starting there. Just as classics scholars may debate endlessly about who precisely should be counted as a classicist or philosophers might debate who can properly be counted as a Kantian, there is likely to be no consensus about precisely what counts as law and economics or who is doing it. Indeed, the acknowledged superstar and chief guru of the law and economics movement, Judge Richard Posner, has argued that, …

The German Duality Of State And Society, David Abraham

Articles

No abstract provided.

Adventures In The Zone Of Twilight: Separation Of Powers And National Economic Security In The Mexican Bailout, Russell D. Covey

Faculty Publications By Year

No abstract provided.

Fusing Economic And Environmental Policy: The Need For Framework Laws In The United States And Argentina, John R. Nolon

Elisabeth Haub School of Law Faculty Publications

In an effort to discover the best legal strategies to respond to these new challenges, seminars were conducted among experts in economic development and environmental protection in both the United States and Argentina. The observations and recommendations of these experts have been summarized and published and will be referenced as appropriate. This article attempts to synthesize what was learned in these two seminars, the research conducted in preparation for them, and the ongoing discussion among the participants. It begins with a summary of the forces in both countries that call for a change in the legal system, shows how these …

Transfers Of Control And The Quest For Efficiency: Can Delaware Law Encourage Efficient Transactions While Chilling Inefficient Ones?, John C. Coffee Jr.

Faculty Scholarship

At first glance, few corporate law principles seem to be better established than the widely prevailing rule that a controlling shareholder may receive a control premium for its shares. From a comparative law perspective, however, this consensus may seem surprising, because the United States stands virtually alone in failing to accord minority shareholders any presumptive right to share in a control premium. Yet, from an economic perspective, the permissive U.S. rule is not surprising because economists generally agree that economic efficiency is promoted by privately negotiated control transfers at premiums not offered to minority shareholders.

The puzzling fact that this …

The Enforceability Of Norms And The Employment Relationship, Edward B. Rock, Michael L. Wachter

All Faculty Scholarship

No abstract provided.

A Missing Markets Theory Of Tort Law, Keith N. Hylton

Faculty Scholarship

This Article provides a framework for reconciling the tension between tort doctrine and economic theory, and for addressing the general failure of economically oriented theories to come to grips with doctrine at a detailed level. My claim is that tort doctrine should be viewed as a response to the incompleteness of markets, or more generally the problem of missing markets. Because of market incompleteness, some of the benefits as well as costs associated with activities will be shifted or "externalized" to third parties. Tort doctrine reflects sensitivity to the externalization of benefits and costs. It can therefore be understood only …

The Economics Of Copyright, Robert G. Bone, Wendy J. Gordon

Scholarship Chronologically

Copyright law protects works of creative expression. At its relatively uncontroversial core lie songs, plays, novels, paintings, and other works of aesthetic value. But copyright is not confined solely to aesthetic subject matter; in many countries, it extends to works of fact, such as biographies, maps, and telephone directories, and to works with practical value. For example, one of the most controversial issues in copyright law today is whether and how much copyright should protect computer programs.

Faculty Spotlight - Kyle D. Logue, Kyle D. Logue

Articles

Most of my teaching and research efforts are currently spent in two general fields of law - taxation and insurance. Which raises an interesting question: Why would a rational person decide to devote a good portion of his academic career to areas of law that many people - lawyers and nonlawyers alike - find painfully boring and unreasonably complicated? The ta and insurance lawyers in the audience, of course, already know the answer - that ta ation and insuran e are e ceptionally interesting topics and that, if one wants to understand how the real world works (in particular, the …

On The Genealogy Of Moral Hazard, Tom Baker

All Faculty Scholarship

No abstract provided.

America's Shifting Fascination With Comparative Corporate Governance, Edward B. Rock

All Faculty Scholarship

No abstract provided.

An Analysis Of Fee Shifting Based On The Margin Of Victory: On Frivolous Suints, Meritorious Suits, And The Role Of Rule 11, Howard F. Chang, Lucian A. Bebchuk

All Faculty Scholarship

When plaintiffs cannot predict the outcome of litigation with certainty, neither the American rule (each litigant bears its own litigation expenses) nor the British rule (the losing litigant pays the attorneys' fees of the winning litigant) would induce optimal decisions to bring suit. Plaintiffs may bring frivolous suits when litigation costs are small relative to the amount at stake; plaintiffs may not bring meritorious suits when litigation costs are large relative to this amount. More general fee-shifting rules are based not only on the identity of the winning party but also on how strong the court perceives the case to …