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Dinner Parties During "Lost Decades": On The Difficulties Of Rethinking Financial Markets, Fostering Elite Consensus, And Renewing Political Economy, David A. Westbrook
Dinner Parties During "Lost Decades": On The Difficulties Of Rethinking Financial Markets, Fostering Elite Consensus, And Renewing Political Economy, David A. Westbrook
Journal Articles
Two groups of problems that ought to be understood in relation to one another: economic trends in the North Atlantic societies, and the capacity to collectively thinking, discussing, and even decide on what to do about our economy. Part One argues that economic policy and economic life are not only intertwined, but compromise one another. Part Two uses the World Economics Association's recent virtual conference, Rethinking Financial Markets to discuss some possibilities for fostering collective thought. Part Three briefly discusses the nature of the economy at the present time, i.e., the tasks confronting contemporary economic policy elites.
Harmonizing European Union Bank Resolution: Central Clearing Of Otc Derivative Contracts Maintaining The Status Quo Of Safe Harbors, Christoph Henkel
Harmonizing European Union Bank Resolution: Central Clearing Of Otc Derivative Contracts Maintaining The Status Quo Of Safe Harbors, Christoph Henkel
Journal Articles
This Article argues that safe harbors for financial contracts should not be expanded in Europe, but instead should be repealed, as suggested by some commentators in the United States. At the very minimum, credit derivatives, swaps, and repurchasing agreements should be subject to a stay, and the resolution authorities in the Member States should have the power to assume beneficial contracts and to reject other unfavorable contracts. Also, the power of resolution authorities to transfer derivative positions in full or in part should not be sanctioned in favor of a full transfer. Rather, resolution authorities should have the power to …