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Stopping Runs In The Digital Era, Luís C. Calderón Gómez
Stopping Runs In The Digital Era, Luís C. Calderón Gómez
Articles
Bank runs, and the financial crises they catalyze and amplify, are incredibly costly-to individuals, families, society, and the economy writ large. Banking regulation has, for the most part, protected us from traditional bank runs for the last ninety years. However, as we saw in the devastating 2008 financial crisis, bank runs can still occur in lightly regulated or opaque segments of the financial sector.
The recent crypto market downturn dramatically forewarned regulators of the potential and significant risks that novel assets could pose to our financial system's stability. In particular, a novel, systemically important asset (stablecoins) revealed its vulnerability to …
Debt In Just Societies: A General Framework For Regulating Credit, John Linarelli
Debt In Just Societies: A General Framework For Regulating Credit, John Linarelli
Scholarly Works
Debt presents a dilemma to societies: successful societies benefit from a substantial infrastructure of consumer, commercial, corporate, and sovereign debt but debt can cause substantial private and social harm. Pre- and post-crisis solutions have seesawed between subsidizing and restricting debt, between leveraging and deleveraging. A consensus exists among governments and international financial institutions that financial stability is the fundamental normative principle underlying financial regulation. Financial stability, however, is insensitive to equality concerns and can produce morally impermissible aggregations in which the least advantaged in a society are made worse off. Solutions based only on financial stability can restrict debt without …
Big Data In Finance: Highlights From The Big Data In Finance Conference Hosted At The University Of Michigan October 27-28, 2016, Michael S. Barr, Brian Koziara, Mark D. Flood, Alfred Hero, H. V. Jagadish
Big Data In Finance: Highlights From The Big Data In Finance Conference Hosted At The University Of Michigan October 27-28, 2016, Michael S. Barr, Brian Koziara, Mark D. Flood, Alfred Hero, H. V. Jagadish
Law & Economics Working Papers
How can financial data be made more accessible and more secure, as well as more useful to regulators, market participants, and the public? As new data sets are created, opportunities emerge. Vast quantities of financial data may help identify emerging risks, enable market participants and regulators to see and better understand financial networks and interconnections, enhance financial stability, bolster consumer protection, and increase access to the underserved. Data can also increase transparency in the financial system for market participants, regulators and the public. These data sets, however, can raise significant questions about security and privacy; ensuring data quality; protecting against …