Open Access. Powered by Scholars. Published by Universities.®

Law Commons

Open Access. Powered by Scholars. Published by Universities.®

Patricia A. McCoy

Law and Economics

Publication Year

Articles 1 - 2 of 2

Full-Text Articles in Law

Countercyclical Regulation And Its Challenges Jun 2016

Countercyclical Regulation And Its Challenges

Patricia A. McCoy

Historically, U.S. financial regulation has normally been procyclical, with federal regulators and Congress relaxing oversight during bull markets and cracking down once financial crises hit. After 2008, the wisdom of this approach came under attack. Critics argued that procyclical regulation left financial institutions undercapitalized and unable to withstand panics. Other critics asserted that economic downturns could be mitigated and even averted if regulators took steps to puncture asset bubbles.

The concept of countercyclical regulation responds to both of these critiques. This new approach posits that financial regulation would be more effective if financial regulation clamped down during financial expansions ...


Levers Of Law Reform: Public Goods And Russian Banking Dec 1996

Levers Of Law Reform: Public Goods And Russian Banking

Patricia A. McCoy

No abstract provided.