Law Commons^™

No Pain, No Gain: Australia, Uk, And Us Stock Market Responses To The 2020 Stimulus Efforts, Jett Zeimantz

CMC Senior Theses

The stock market shocks of 2020 caused by the COVID-19 crisis have been met by monetary policy announcements rapidly issued by the central banks of developed economies, signaling a concerted effort to keep markets afloat. Utilizing an ordinary least squares regression, this paper tests whether the monetary policy announcements of the central banks of the United States, Australia, and the United Kingdom served their intended purpose in soothing market reactions via high-frequency event data. For the overall stock market, I find that the Federal Reserve’s announcements boosted market returns of the S&P 500 Index by 4.2%, the All Ordinaries Index …

The Foreign Account Tax Compliance Act: The Solution Or The Problem?, Sophie S. Chou

CMC Senior Theses

Tax evasion has been happening for decades, but after the highly publicized cases with two foreign banks, LGT and UBS, the United States (US) is cracking down on tax evaders. The latest addition to the Internal Revenue Service (IRS)’s repertoire of enforcement tools is the Foreign Account Tax Compliance Act, otherwise known as FATCA. The Act was enacted to incentivize tax information release by foreign financial institutions (FFIs) who would otherwise face a 30% withholding tax on any US source income. The question was whether or not the design of the Act and its implementation successfully met this goal.

This …

Impacts And Implementation Of The Basel Accords: Contrasting Argentina, Brazil, And Chile, Kristina Bergess

CMC Senior Theses

This thesis explores the impacts of implementing the Basel Accords on the stability of the banking sector and greater economy, and will particularly focus on Basel II. This study contrasts three Latin American governments that have implemented the Basel Accords. Because Chile's and Brazil's banking sectors have been more successful in implementing the Basel Accords, they will be used as model cases to provide the context to analyze Argentina’s banking sector. The results of this thesis reveal that in order for Argentina to stabilize its banking sector and become a stronger international financial player, it must not only improve the …