Law Commons^™

Lessons Learned: William Nelson, Sandra Ward

Journal of Financial Crises

William Nelson was deputy director, Division of Monetary Affairs, at the Federal Reserve Board during the Global Financial Crisis of 2007–09 (GFC). As the nation’s central bank, chief financial regulator, and lender of last resort, the Federal Reserve Board took the lead in setting monetary policy and stabilizing the financial system during the crisis.

Nelson’s responsibilities at the Fed during the crisis included analysis of monetary policy and discount window policy as well as financial institution supervision, and he regularly briefed the board and the Federal Open Market Committee. He developed special expertise in designing liquidity facilities and was a …

Undersea Cables: The Ultimate Geopolitical Chokepoint, Bert Chapman

FORCES Initiative: Strategy, Security, and Social Systems

This work provides historical and contemporary overviews of this critical geopolitical problem, describes the policy actors addressing this in the U.S. and selected other countries, and provides maps and information on many undersea cable work routes. These cables are chokepoints with one dictionary defining chokepoints as “a strategic narrow route providing passage through or to another region."

A Workers' Paradise: Re-Integrating Newfoundland Into Colonial American History, Elena Hynes

Electronic Theses & Dissertations

The island of Newfoundland is conspicuous in colonial British and North American histories, most particularly and paradoxically, in its absence, a state of affairs which this study aims to help address. Multiple factors, including a paucity of documentary sources and various historiographic trends, have traditionally contributed to Newfoundland’s marginalization within colonial historical narratives. However, developments in recent years have made Newfoundland’s potential integration into the broader colonial dialogue more feasible including the advent of the Atlantic perspective, the expansion of available sources, and the work of multiple regional historians who have challenged enduring historiographic trends characterizing Newfoundland colonial settlements as …

Making Green Mortgages Mainstream & Accessible, Megan Greene, Adam Tooze, Jennifer M. Silva, Rohan Kocharekar, Hannah H. Braun

Regenerative Crisis Response Committee

No abstract provided.

Do Esg Funds Deliver On Their Promises?, Quinn Curtis, Jill E. Fisch, Adriana Z. Robertson

All Faculty Scholarship

Corporations have received growing criticism for their role in climate change, perpetuating racial and gender inequality, and other pressing social issues. In response to these concerns, shareholders are increasingly focusing on environmental, social, and corporate governance (ESG) criteria in selecting investments, and asset managers are responding by offering a growing number of ESG mutual funds. The flow of assets into ESG is one of the most dramatic trends in asset management.

But are these funds giving investors what they promise? This question has attracted the attention of regulators, with the Department of Labor and the Securities and Exchange Commission (SEC) …

Improving Veteran Access; Status Of Operations Of The United States Department Of Veteran Affairs Work-Study Program, Kirk Allen

Electronic Theses, Projects, and Dissertations

The usage status of The U.S. Department Veterans Affairs Work-Study Program is examined. Beneficiary numbers from the Global, Unites States, State, and Local/County perspective are reviewed. While of essential value, the program suffers from a lack of scholarly research and government oversight, and is further hindered by restrictive administrative rules lived first-hand. Research suggests that the program is operating outside of accountability to the taxpayer, presents as unnecessarily/overly-restrictive in accessibility, and is underutilized. The program appears to not be serving all veterans to full potential.

The Work-Study Program is codified in Veterans Benefits', Title 38 United States Code, Part III, …

Corporate Crime And Punishment: An Empirical Study, Dorothy S. Lund, Natasha Sarin

All Faculty Scholarship

For many years, law and economics scholars, as well as politicians and regulators, have debated whether corporate criminal enforcement overdeters beneficial corporate activity or in the alternative, lets corporate criminals off too easily. This debate has recently expanded in its polarization: On the one hand, academics, judges, and politicians have excoriated enforcement agencies for failing to send guilty bankers to jail in the wake of the 2008 financial crisis; on the other, the U.S. Department of Justice has since relaxed policies that encouraged individual prosecutions and reduced the size of fines and number of prosecutions. A crucial and yet understudied …

Contributor's Guidelines And Article Index, Usawc Press

The US Army War College Quarterly: Parameters

No abstract provided.

Measuring The Capacity To Combat Illicit Tobacco Trade In 160 Countries, Valerie Gilbert T. Ulep, Monica Paula Lavares, Ariza Francisco

Ateneo School of Government Publications

Background

Illicit trade of tobacco negatively affects countries’ tobacco control efforts. It leads to lower tobacco prices and makes tobacco products more accessible to vulnerable populations. In this study, we constructed an illicit tobacco trade index, which measures the structural and institutional capabilities of 160 countries in addressing illicit tobacco trade. We collected the most recent and best available data on general governance, tobacco control policies, and trade and customs practices.

Results

Singapore, New Zealand, Finland and Sweden lead countries with the most favorable illicit tobacco trade score. We observed a positive relationship between illicit tobacco trade scores and Gross …

Article Index, Usawc Press

The US Army War College Quarterly: Parameters

No abstract provided.

Commentary And Reply, Claude A. Lambert

The US Army War College Quarterly: Parameters

No abstract provided.

Review Essay, Robert L. Bateman

The US Army War College Quarterly: Parameters

No abstract provided.

Book Reviews, Usawc Press

The US Army War College Quarterly: Parameters

No abstract provided.

Book Reviews, Usawc Press

The US Army War College Quarterly: Parameters

No abstract provided.

Antitrust And Platform Monopoly, Herbert J. Hovenkamp

All Faculty Scholarship

Are large digital platforms that deal directly with consumers “winner take all,” or natural monopoly, firms? That question is surprisingly complex and does not produce the same answer for every platform. The closer one looks at digital platforms the less they seem to be winner-take-all. As a result, competition can be made to work in most of them. Further, antitrust enforcement, with its accommodation of firm variety, is generally superior to any form of statutory regulation that generalizes over large numbers.

Assuming that an antitrust violation is found, what should be the remedy? Breaking up large firms subject to extensive …

Addressing The Divisions In Antitrust Policy, Herbert J. Hovenkamp

All Faculty Scholarship

This is the text of an interview conducted in writing by Professor A. Douglas Melamed, Stanford Law School.

Pandemic Hope For Chapter 11 Financing, David A. Skeel Jr.

All Faculty Scholarship

One of the biggest surprises of the recent pandemic from a bankruptcy perspective has been the ready availability of financing. A variety of factors—such as an estimated $2.5 trillion in available funding at the outset of the crisis and the buoyant stock market—may have contributed. In this Essay, I focus on a less widely appreciated factor, a striking shift in the capital structure of many corporate debtors. Rather than borrowing from one group of lenders, debtors now often borrow from multiple groups of diverse lenders. Although the new capital structure complexity has downsides, it also could counteract a longstanding problem …

Municipal Optimization Of Short-Term Rental Regulations: The Reality Of Airbnb In South Texas Communities, Kenneth M. Culbreth Iii

St. Mary's Law Journal

Abstract forthcoming.

Give Me Liberty, Or Give Me Breath: A Call For Economic Justice, Verónica C. Gonzales-Zamora

Journal of Legal Education

No abstract provided.

Mutual Fund Stewardship And The Empty Voting Problem, Jill E. Fisch

All Faculty Scholarship

When Roberta Karmel wrote the articles that are the subject of this symposium, she was skeptical of both the potential value of shareholder voting and the emerging involvement of institutional investors in corporate governance. In the ensuing years, both the increased role and engagement of institutional investors and the heightened importance of shareholder voting offer new reasons to take Professor Karmel’s concerns seriously. Institutional investors have taken on a broader range of issues ranging from diversity and political spending to climate change and human capital management, and their ability to influence corporate policy on these issues has become more significant. …

Financial Toxicity During Breast Cancer Treatment: A Qualitative Analysis To Inform Strategies For Mitigation, Laila A. Gharzai, Kerry A. Ryan, Lauren Szczygiel, Susan Goold, Grace Li Smith, Sarah T. Hawley, John A.E. Pottow, Reshma Jagsi

Articles

Financial toxicity from cancer treatment is a growing concern. Its impact on patients requires refining our understanding of this phenomenon. We sought to characterize patients' experiences of financial toxicity in the context of an established framework to identify knowledge gaps and strategies for mitigation. Semistructured interviews with patients with breast cancer who received financial aid from a philanthropic organization during treatment were conducted from February to May 2020. Interviews were transcribed and coded until thematic saturation was reached, and findings were contextualized within an existing financial toxicity framework. Thirty-two patients were interviewed, of whom 58% were non-Hispanic White. The mean …

Inferring Tax Compliance From Pass-Through: Evidence From Airbnb Tax Enforcement Agreements, Andrew J. Bibler, Keith F. Teltser, Mark J. Tremblay

Economics Faculty Publications

Tax enforcement is especially costly when market participants are difficult to observe. The benefits of enforcement depend crucially on pre-enforcement compliance. We derive an upper bound on pre-enforcement compliance from the pass-through of newly enforced taxes. Using data on Airbnb listings and the platform’s voluntary collection agreements, we find that taxes are paid on, at most, 24% of Airbnb transactions prior to enforcement. We also find that demand for Airbnb listings is inelastic, driving three key insights: the tax burden falls disproportionately on renters, the excess burden is small, and tax enforcement is relatively ineffective at reducing local Airbnb activity.

Addressing Food Insecurity In The United States During And After The Covid-19 Pandemic: The Role Of The Federal Nutrition Safety Net, Sheila Fleischhacker, Sara N. Bleich

Journal of Food Law & Policy

Food insecurity has been a direct and almost immediate consequence of the coronavirus disease 2019 (COVID-19) pandemic and its associated ramifications on unemployment, poverty and food supply disruptions. As a social determinant of health, food insecurity is associated with poor health outcomes including diet related chronic diseases, which are associated with worst COVID-19 outcomes (e.g., COVID-19 patients of all ages with obesity face higher risk of complications, death). In the United States (US), the federal nutrition safety net is predominantly made up of the suite of 15 federal nutrition assistance programs that the US Department of Agriculture (USDA) administers and …

Understanding Modern History Of International Food Law Is Key To Building A More Resilient And Improved Global Food System, Michael T. Roberts

Journal of Food Law & Policy

This article advocates the need for a history of the development of modern international food law and suggests an analytical approach to complement the chronicling of events. Comprehension of this history will help elucidate the evolution of a complicated modern global food system, including its resiliency and vulnerability as demonstrated by Covid-19, thereby providing valuable context for change in the system where needed. This essay makes the case for such a history in three parts. First, it briefly demonstrates the need for a historical perspective through a critical examination of a journal article that speaks to Covid-19 food security in …

Vertical Control, Herbert J. Hovenkamp

All Faculty Scholarship

Antitrust litigation often requires courts to consider challenges to vertical “control.” How does a firm injure competition by limiting the behavior of vertically related firms? Competitive injury includes harm to consumers, labor, or other suppliers from reduced output and higher margins.

Historically antitrust considers this issue by attempting to identify a market that is vertically related to the defendant, and then consider what portion of it is “foreclosed” by the vertical practice. There are better mechanisms for identifying competitive harm, including a more individualized look at how the practice injures the best placed firms or bears directly on a firm’s …

Submission To Canadian Government Consultation On A Modern Copyright Framework For Ai And The Internet Of Things, Sean Flynn, Lucie Guibault, Christian Handke, Joan-Josep Vallbé, Michael Palmedo, Carys J. Craig, Michael Geist, João Quintais

Testimony and Submissions

We are grateful for the opportunity to participate in the Canadian Government’s consultation on a modern copyright framework for AI and the Internet of Things. Below, we present some of our research findings relating to the importance of flexibility in copyright law to permit text and data mining (“TDM”). As the consultation paper recognizes, TDM is a critical element of artificial intelligence. Our research supports the adoption of a specific exception for uses of works in TDM to supplement Canada’s existing general fair dealing exception.

Empirical research shows that more publication of citable research takes place in countries with “open” …

U.S. Policing As Racialized Violence And Control: A Qualitative Assessment Of Black Narratives From Ferguson, Missouri, Jason M. Williams

Department of Justice Studies Faculty Scholarship and Creative Works

U.S. policing has long been captured within a master narrative of colorblind consensus; however, distinct lived experiences between community groups depict grave disparities in law enforcement experiences and perceptions. Orthodox conceptions of law enforcement ultimately silence marginalized voices disproportionately affected by negative contacts with law enforcement. Centering data in critical theory, this study will present thematic results from semi-interviews gathered in Ferguson, M.O., during a critical ethnographic research project. Themes reveal experiences and perceptions of racialized and violent policing, the unique position of Black officers, and regard for the impact police have on children. Results also help to foreground new …

Nopal En La Frente: Racial Passing And The Hidden Indigeneity Of The Los Altos Region Of Jalisco, 1720-1950, Brandon Manuel Márquez

History

When people look at Los Altos de Jalisco, they typically think of this area as representing a pocket of European ancestry in a mestizaje state. Yet this ignores one huge aspect of this region: its indigenous history. Throughout the last three hundred years, the Los Altos region of Jalisco has allowed for the racial passing of many different families. This is all the more significant because many of its citizens have what many believe to be European features- mainly being light hair, light skin, and colored eyes. Because of these perceived European features, many of the Alteños believe that they …

Hope Versus Reality: The Efficacy Of Using Us Military Aid To Improve Human Rights In Egypt, Gregory L. Aftandilian

The US Army War College Quarterly: Parameters

Using US military aid as a lever to achieve human rights reforms has proven only marginally effective. This article examines the approaches employed by the Obama and Trump administrations to US military aid to Egypt and proposes practical steps that can be taken by policymakers and the military personnel on the ground to advance US human rights values.

Book Reviews, Usawc Press

The US Army War College Quarterly: Parameters

No abstract provided.