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Full-Text Articles in Law
The Virtue Of Home Ownership And The Vice Of Poorly Secured Lending: The Great Financial Crisis Of 2008 As An Unintended Consequence Of Warm-Hearted And Bone-Headed Ideas, Mark S. Klock
Mark S Klock
This article utilizes a simple economic model of asymmetric information to model a pooling equilibrium in the housing market. There are two types of households in the model—disciplined and undisciplined. Disciplined households are able to distinguish themselves by saving a significant portion of their income for a down payment on a home leading to a stable equilibrium. A change in government policy which requires a rate of home ownership greater than the proportion of disciplined households causes the equilibrium to collapse. I argue that changes in U.S. housing policy driven by federal legislation had exactly this effect on the housing …
Cooperation And Division: An Empirical Analysis Of Voting Similarities And Differences During The Stable Rehnquist Court Era—1994 To 200, Mark S. Klock
Mark S Klock
The Stable Rehnquist Court Era (SRCE) covers the period from the appointment of Justice Breyer to the passing of Chief Justice Rehnquist. There has been only one longer period of stability in the Court’s history, and that was in the early nineteenth century when far fewer cases were decided. Thus the SRCE presents a unique opportunity with a large number of observations to conduct statistical analysis of the Justices’ votes while the composition of the Court is held constant. I present a statistical empirical analysis of voting for this period both for the potentially interesting results that can be learned, …