From Fedspeak To Forward Guidance: Regulatory Dimensions Of Central Bank Communications, Robert B. Ahdieh
Jun 2018
From Fedspeak To Forward Guidance: Regulatory Dimensions Of Central Bank Communications, Robert B. Ahdieh
Robert B. Ahdieh
In the face of the financial crisis that engulfed the globe beginning in 2007, the U.S. Federal Reserve quickly found itself without the key lever of monetary policy on which it had traditionally relied: short-term interest rate adjustments designed to move long-term rates, and thereby expected levels of lending, investment, and capital retention. By late 2008, short-term rates were already close to zero, yet unemployment remained strikingly high – with no sign of any likely renewal of bank lending or commercial investment.
Famously, the Fed embraced so-called quantitative easing – the purchase of massive volumes of public and private debt …
The New Regulation: From Command To Coordination In The Modern Administrative State, Robert B. Ahdieh
Mar 2009
The New Regulation: From Command To Coordination In The Modern Administrative State, Robert B. Ahdieh
Robert B. Ahdieh
Since its earliest days, the administrative state has been rationalized by a particular vision of the world. In the latter, public goods and free-rider problems, collective action and information failures, tragedies of the commons, and negative externalities constitute the “state of nature.” Regulation is the state’s response: command-and-control measures designed to alter the dominant incentives of individuals and institutions to defect from socially optimal equilibria. In environmental law, consumer protection, workplace safety regulation, and other domains of the modern administrative state, this Prisoner’s Dilemma is the motivating tale. To a growing degree, however, the demands of the social and economic …
The New Regulation: From Command To Coordination In The Modern Administrative State, Robert B. Ahdieh
Mar 2009
The New Regulation: From Command To Coordination In The Modern Administrative State, Robert B. Ahdieh
Robert B. Ahdieh
Since its earliest days, the administrative state has been rationalized by a particular vision of the world. In the latter, public goods and free-rider problems, collective action and information failures, tragedies of the commons, and negative externalities constitute the “state of nature.” Regulation is the state’s response: command-and-control measures designed to alter the dominant incentives of individuals and institutions to defect from socially optimal equilibria. In environmental law, consumer protection, workplace safety regulation, and other domains of the modern administrative state, this Prisoner’s Dilemma is the motivating tale. To a growing degree, however, the demands of the social and economic …
The New Regulation: From Command To Coordination In The Modern Administrative State, Robert B. Ahdieh
Mar 2009
The New Regulation: From Command To Coordination In The Modern Administrative State, Robert B. Ahdieh
Robert B. Ahdieh
Since its earliest days, the administrative state has been rationalized by a particular vision of the world. In the latter, public goods and free-rider problems, collective action and information failures, tragedies of the commons, and negative externalities constitute the “state of nature.” Regulation is the state’s response: command-and-control measures designed to alter the dominant incentives of individuals and institutions to defect from socially optimal equilibria. In environmental law, consumer protection, workplace safety regulation, and other domains of the modern administrative state, this Prisoner’s Dilemma is the motivating tale. To a growing degree, however, the demands of the social and economic …
The New Regulation: From Command To Coordination In The Modern Administrative State, Robert B. Ahdieh
Mar 2009
The New Regulation: From Command To Coordination In The Modern Administrative State, Robert B. Ahdieh
Robert B. Ahdieh
Since its earliest days, the administrative state has been rationalized by a particular vision of the world. In the latter, public goods and free-rider problems, collective action and information failures, tragedies of the commons, and negative externalities constitute the “state of nature.” Regulation is the state’s response: command-and-control measures designed to alter the dominant incentives of individuals and institutions to defect from socially optimal equilibria. In environmental law, consumer protection, workplace safety regulation, and other domains of the modern administrative state, this Prisoner’s Dilemma is the motivating tale. To a growing degree, however, the demands of the social and economic …
