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Full-Text Articles in Economics
Recessions And The Social Safety Net: The Alternative Minimum Tax As A Countercyclical Fiscal Stabilizer, Brian Galle, Jonathan Klick
Recessions And The Social Safety Net: The Alternative Minimum Tax As A Countercyclical Fiscal Stabilizer, Brian Galle, Jonathan Klick
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As recent events illustrate, state finances are procyclical: during recessions, state revenues crash, worsening the effects of economic downturns. This problem is well known, yet persistent. We argue here that, in light of predictable federalism and political economy dynamics, states will be unable to change this situation on their own. Additionally, we note that many possible federal remedies may result in worse problems, such as by creating moral hazard that would induce states to take on excessively risky policy, both fiscal and otherwise. Thus, we argue that policymakers should consider so-called “automatic” stabilizers, such as are found in the federal …
Law And Economics Of English Only, William W. Bratton
Law And Economics Of English Only, William W. Bratton
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No abstract provided.
Deadweight Costs And Intrinsic Wrongs Of Nativism: Economics, Freedom, And Legal Suppression Of Spanish, William W. Bratton, Drucilla L. Cornell
Deadweight Costs And Intrinsic Wrongs Of Nativism: Economics, Freedom, And Legal Suppression Of Spanish, William W. Bratton, Drucilla L. Cornell
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No abstract provided.
The "Nexus Of Contracts" Corporation: A Critical Appraisal, William W. Bratton
The "Nexus Of Contracts" Corporation: A Critical Appraisal, William W. Bratton
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No abstract provided.
The Economics And Jurisprudence Of Convertible Bonds, William W. Bratton
The Economics And Jurisprudence Of Convertible Bonds, William W. Bratton
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Professor Bratton examines judicial regulation of issuer-bondholder conflicts of interest within three different, but closely related doctrinal frameworks: neoclassical contract interpretation; contract avoidance; and corporate law fiduciary restraint. After discussing the elements of convertible bond valuation and their interaction with issuer actions giving rise to conflicts of interest, he evaluates the case for judicial intervention to protect bondholder interests. He concludes that ·bondholder protective intervention is fair and tolerably efficient, provided it is kept within the bounds of contract interpretation. But he finds that more aggressive judicial intervention under the frameworks of contract avoidance and fiduciary restraint carries an unnecessary …
The Interpretation Of Contracts Governing Corporate Debt Relationships, William W. Bratton
The Interpretation Of Contracts Governing Corporate Debt Relationships, William W. Bratton
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No abstract provided.