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Notes From The Border: Writing Across The Administrative Law/Financial Regulation Divide, Robert B. Ahdieh Jun 2018

Notes From The Border: Writing Across The Administrative Law/Financial Regulation Divide, Robert B. Ahdieh

Robert B. Ahdieh

A central feature – if not the central feature – of legal scholarship today is analysis across divides.

It is surprising, then, how little has been written across the divide that separates administrative law and financial regulation. That is perhaps especially so, given the modest nature of the relevant divide: one that is intra- rather than interdisciplinary, one that operates within rather than across geographic boundaries, and one that involves no temporal dimension but operates entirely within current-day law.

For all the proximity in their interests, targets of study, and even analytical tools, however, scholars of administrative law and of financial regulation ...


From Fedspeak To Forward Guidance: Regulatory Dimensions Of Central Bank Communications, Robert B. Ahdieh Jun 2018

From Fedspeak To Forward Guidance: Regulatory Dimensions Of Central Bank Communications, Robert B. Ahdieh

Robert B. Ahdieh

In the face of the financial crisis that engulfed the globe beginning in 2007, the U.S. Federal Reserve quickly found itself without the key lever of monetary policy on which it had traditionally relied: short-term interest rate adjustments designed to move long-term rates, and thereby expected levels of lending, investment, and capital retention. By late 2008, short-term rates were already close to zero, yet unemployment remained strikingly high – with no sign of any likely renewal of bank lending or commercial investment.

Famously, the Fed embraced so-called quantitative easing – the purchase of massive volumes of public and private debt – as ...


Imperfect Alternatives: Networks, Salience, And Institutional Design In Financial Crises, Robert B. Ahdieh Jun 2018

Imperfect Alternatives: Networks, Salience, And Institutional Design In Financial Crises, Robert B. Ahdieh

Robert B. Ahdieh

With the benefit of hindsight — and some aspiration to foresight — it is useful to consider the type of regulatory regime that might best address financial crises. What could policymakers have done to prevent the recent crisis? And once the crisis started, what interventions might have alleviated it? These questions have been widely debated, with an eye to both substantive policy and the design of effective regulatory institutions. This Article speaks to the latter project — one of comparative institutional analysis — though with a framework that implicates our substantive policy choices as well. It begins with an account of financial crises as ...


Coordination And Conflict: The Persistent Relevance Of Networks In International Financial Regulation, Robert B. Ahdieh Jun 2018

Coordination And Conflict: The Persistent Relevance Of Networks In International Financial Regulation, Robert B. Ahdieh

Robert B. Ahdieh

Over the last two decades, scholarly enthusiasm about transnational regulatory networks has seen something of a boom-and-bust cycle. Such networks – informal groupings of mid-level national officials, convened to develop nonbinding “soft law” norms of behavior in specialized fields of regulation – were identified as an important new phenomenon, were studied widely, and came to be seen as central pillars of the international legal order, especially in financial regulation. Yet today, regulatory networks go largely unmentioned in polite academic conversation: a kind of “he-who-must-not-be-named” of international law.

Among the many critiques of transnational networks that have contributed to this decline in interest ...


After The Fall: Financial Crisis And The International Order, Robert B. Ahdieh Jun 2018

After The Fall: Financial Crisis And The International Order, Robert B. Ahdieh

Robert B. Ahdieh

Recent years have challenged the international order to a degree not seen since World War II — and perhaps the Great Depression. As the U.S. housing crisis metastasized into a financial and economic crisis of grave proportions, and spread to nearly every corner of the globe, the strength of our international institutions — the International Monetary Fund, the World Trade Organization, the Group of Twenty, the Basel Committee on Banking Supervision, and others — was tested as never before. Likewise tested, were the limits of our national commitment to those institutions, to our international obligations, and to global engagement more generally.

In ...


Crisis And Coordination: Regulatory Design In Financial Crises (Asil Proceedings, 2010), Robert B. Ahdieh Dec 2009

Crisis And Coordination: Regulatory Design In Financial Crises (Asil Proceedings, 2010), Robert B. Ahdieh

Robert B. Ahdieh

As we slowly move beyond the most significant financial crisis the world has faced since the Great Depression, its long-term consequences for our social, economic, and even political life are gradually becoming clear. Beyond the striking breadth and depth of this crisis, meanwhile, the frequency of financial crises is generally on the rise. As the last few years have made evidently clear, however, our understanding of how to handle such crises is woefully limited. In the absence of financial panic, we are unsure what to do to prevent it. Once it arises, we are nearly as unsure what to do ...


International Aspect Of The Global Financial Crisis, Robert B. Ahdieh Dec 2008

International Aspect Of The Global Financial Crisis, Robert B. Ahdieh

Robert B. Ahdieh

This panel was convened at 9:00 a.m., Thursday, March 26, by its moderator, Robert Ahdieh of Emory University School of Law, who introduced the panelists: Michael Barr of the U.S. Treasury Department; Sean Hagan of the International Monetary Fund; Eric Pan of Cardozo University School of Law; Mark Weisbrot of the Center for Economic and Policy Research; and David Zaring of the University of Pennsylvania Wharton School of Business