Political Science Commons^™

European Banking Union D: Cross-Border Resolution—Dexia Group, Rosalind Z. Wiggins, Natalia Tente, Andrew Metrick

Journal of Financial Crises

In September 2008, Dexia Group, SA, the world’s largest provider of public finance, experienced a sudden liquidity crisis. In response, the governments of Belgium, France, and Luxembourg provided the company a capital infusion and credit support. In February 2010, the company adopted a European Union (EU)-approved restructuring plan that required it to scale back its businesses and cease proprietary trading. In June 2011, Dexia withdrew from the government-sponsored credit support program before its expiration date, and in July, the company announced that it had passed an EU stress test. However, just three months later, Dexia wrote down its substantial position …

European Banking Union C: Cross-Border Resolution–Fortis Group, Rosalind Z. Wiggins, Natalia Tente, Andrew Metrick

Journal of Financial Crises

In August 2007, Fortis Group, Belgium’s largest bank, acquired the Dutch operations of ABN AMRO, becoming the fifth largest bank in Europe. Despite its size and its significant operations in the Benelux countries, Fortis struggled to integrate ABN AMRO. Fortis’s situation worsened with the crash of the US subprime market, which impacted its subprime mortgage portfolio. By July 2008, Fortis’s CEO had stepped down, its stock had lost 70% of its value, and it was on the verge of collapse due to a severe liquidity crisis. The governments of Belgium, Luxembourg, and the Netherlands quickly came together and agreed to …

European Banking Union B: The Single Resolution Mechanism, Rosalind Z. Wiggins, Michael Wedow, Andrew Metrick

Journal of Financial Crises

The options available to European governments to respond to a multinational bank in financial trouble have been severely limited since each country has its own unique laws and authority applicable to banks operating within its borders. The Bank Recovery & Resolution Directive (BRRD), which was adopted in 2013 and scheduled to go into effect January 2015, harmonizes rules across EU countries for how to restructure and resolve failing banks. However, the directive would maintain the existing system of individual national resolution authorities and resolution funds. To better secure the Eurozone banks and to compliment the Single Supervisory Mechanism, which was …

European Banking Union A: The Single Supervisory Mechanism, Rosalind Z. Wiggins, Michael Wedow, Andrew Metrick

Journal of Financial Crises

At the peak of the Global Financial Crisis in fall 2008, each of the 27 member states in the European Union (EU) set many of its own banking rules and had its own bank regulators and supervisors. The crisis made the shortcomings of this decentralized approach obvious, and since its formation in January 2011, the European Banking Authority (EBA) has been developing a “Single Rulebook” that will harmonize banking rules across the EU countries. In June 2012, European leaders went even further, committing to a banking union that would better coordinate supervision of banks in the then 18-country Eurozone. A …

European Central Bank Tools And Policy Actions B: Asset Purchase Programs, Chase P. Ross, Rosalind Z. Wiggins, Andrew Metrick

Journal of Financial Crises

Beginning in August 2007, the European Central Bank (ECB) used standard and non-standard monetary policies as the global financial markets progressed from initial turmoil to a widespread sovereign debt crisis. This case describes the key features of the ECB’s asset purchase programs throughout the Global Financial Crisis and subsequent European sovereign debt crisis. These programs include the Covered Bond Purchase Programs (CBPP1, CBPP2, CBPP3), Securities Markets Program (SMP), Outright Monetary Transactions (OMT), Asset-backed Securities Purchase Program (ABSPP) and the Public Sector Purchase Program (PSPP).

In combating the crises, the ECB designed various innovative programs which it successively employed as the …

European Central Bank Tools And Policy Actions A: Open Market Operations, Collateral Expansion And Standing Facilities, Chase P. Ross, Rosalind Z. Wiggins, Andrew Metrick

Journal of Financial Crises

Beginning in August 2007, the European Central Bank (ECB) responded to market turmoil with a variety of standard and non-standard monetary policy tools. This case discusses the operational framework of the ECB’s open market operation tools and standing facilities before and during the financial crisis. Specifically, this case describes the ECB’s use of its main refinancing and longer-term refinancing operations, the expansion of collateral eligible for use in Eurosystem credit operations, and the ECB’s standing facilities, including its marginal lending and deposit facilities.

Ireland And Iceland In Crisis D: Similarities And Differences, Arwin G. Zeissler, Daisuke Ikeda, Andrew Metrick

Journal of Financial Crises

On September 29, 2008—two weeks after the collapse of Lehman Brothers—the government of Ireland took the bold step of guaranteeing almost all liabilities of the country’s major banks. The total amount guaranteed by the government was more than double Ireland’s gross domestic product, but none of the banks were immediately nationalized. The Icelandic banking system also collapsed in 2008, just one week after the Irish government issued its comprehensive guarantee. In contrast to the Irish response, the Icelandic government did not guarantee all bank debt. Instead, the Icelandic government controversially split each of the three major banks into a new …

Ireland And Iceland In Crisis A: Increasing Risk In Ireland, Arwin G. Zeissler, Karen Braun-Munzinger, Andrew Metrick

Journal of Financial Crises

Ireland went from being the poorest member of the European Economic Community in 1973 to enjoying the second highest per-capita income among European countries by 2007. Healthy growth in the 1990s eventually gave way to a concentrated boom in property-related lending in the 2000s. The growth in the aggregate loan balances of Ireland’s six major banks greatly exceeded the growth in gross domestic product (GDP); as a result, bank loan balances grew from 1.1 times GDP in 2000 to over 2.0 times GDP by 2007. Given the small size of the domestic retail depositor base, the Irish banks increasingly funded …

Making The War Colleges Better, Richard A. Lacquement Jr

The US Army War College Quarterly: Parameters

No abstract provided.

Educating Strategic Lieutenants At Sandhurst, An Jacobs

The US Army War College Quarterly: Parameters

This article examines how well military education at the Royal Military Academy of Sandhurst delivers lieutenants capable of coping with the complexities of their operational environment and the strategic implications of their decisions.

Article Index, Usawc Press

The US Army War College Quarterly: Parameters

No abstract provided.

Denmark's Lessons, Sten Rynning

The US Army War College Quarterly: Parameters

This article argues despite opportunities to learn valuable strategic lessons from Denmark’s effort in the Afghanistan War (2001–14), Danish civil authorities implemented a comprehensive approach policy that failed to establish a bridge to lessons learned by the military. Denmark’s experience in the Afghanistan War demonstrates promises and perils of lessons learned processes.

Book Reviews, Usawc Press

The US Army War College Quarterly: Parameters

No abstract provided.

Indonesian Term Of Address Ustad In Film Utterances: Forms, Functions, And Social Values, Sandy Nugraha, Wiwin Triwinarti

International Review of Humanities Studies

This study analyzes the term of address ustad in Indonesian culture. Indonesia’s religious-themed movies may represent the use of the term of address ustad in daily conversation. In particular, this study aims to describe the patterns of form, the patterns of use, and the social values of the term of address ustad in film utterances. The data of the term of address ustad and its contexts are collected from the utterances in Indonesia’s four Islamic-themed movies. This descriptive qualitative study uses sociopragmatics approach in identifying the functions of the term of address in film discourse. The context of the utterances …

How U.S. Government Policy Documents Are Addressing The Increasing National Security Implications Of Artificial Intelligence, Bert Chapman

Libraries Faculty and Staff Presentations

Artificial intelligence is affecting many areas of our lives and governmental policy. National security is one arena in which artificial intelligence is playing an increasingly important and controversial role. U.S. Government and military agencies are producing a steadily expanding corpus of publicly available literature on this topic. This literature documents how these agencies have this topic's national security implications historically and currently while also addressing potentially emerging national security issues where artificial intelligence will intersect with national security. This presentation demonstrates examples of the growing variety of publicly available national security artificial intelligence literature while also addressing the implications of …

Contesting Human Rights Defenders At The Un Human Rights Council, M. Joel Voss

Biennial Conference: The Social Practice of Human Rights

Human rights defenders are being increasingly targeted across the globe. The rise of nationalist, populist regimes is of great concern to both human rights defenders and those that advocate for the rights of defenders. The problem is not only of domestic concern. The UN Human Rights Council, the UN’s preeminent human rights institution, is also seeing an increasing number of attacks on defenders, both in formal settings like discussions on resolutions and the Universal Periodic Review process and informally, through threats to participants at the Council.

This paper attempts to better understand and predict which states will both try to …

Terrorism And Its Legal Aftermath: The Limits On Freedom Of Expression In Canada’S Anti-Terrorism Act & National Security Act, Percy Sherwood

FIMS Publications

This analysis aims to demonstrate how s. 83.221 in Bill C-51 is likely to violate freedom of expression guaranteed under the Charter. The first section employs the two-step Irwin Toy analysis to show that the speech offense infringes upon s. 2(b) of the Charter. The second section uses the Oakes test to determine whether the breach of freedom of expression is a reasonable limit. On whether the speech offense can be justified under s. 1 of the Charter as a reasonable limit, the legislation fails at the third and fourth step of the Oakes test. Section three of this paper …

Strategic Implications For The United States Of The Belt And Road Initiative In Africa, Alec Monnie

Independent Study Project (ISP) Collection

The belt and road initiative is one of the most significant developments of the twenty-first century, which the United States will need to learn to adapt to. Much of the academic literature regarding the belt and road initiative mentions that Africa is a significant participant in this policy development, but fail to elaborate as to why that is, or what the implications for this are for the United States. This article expands upon the strategic significance of the African continent, and explains the implications thereof for the United States and China. This article argues that the belt and road initiative …

Presidential Leadership In The Space Age, Ziv R. Carmi

Student Publications

Mankind’s quest to reach the moon consisted of many people in leadership positions. In the US, however, many of the decisions behind the space race, especially funding for it, were made by four men: Dwight D. Eisenhower, John F. Kennedy, Lyndon Baines Johnson, and Richard Nixon. While some presidents (namely Kennedy) receive more credit than others for their work on bringing man to the moon, each of them passed influential policy that was vital in the development of Apollo: Eisenhower founded NASA and began research on the Saturn V, Kennedy gave vision and urgency to the program, Johnson gave massive …

Challenging Voting Rights And Political Participation In State Courts, Irving Joyner

The Scholar: St. Mary's Law Review on Race and Social Justice

Abstract forthcoming

Barriers Between Effective Transnational Changemaking: Relationships Between Ingos And Moroccan Ngos, Julia Walters

Independent Study Project (ISP) Collection

This paper seeks to explore the relationships held between international non-governmental organizations, primarily based in the West, and Moroccan NGOs. The existing literature on the topic explores the ways in which international NGOs can both benefit and harm domestic NGOs, which seek to fix issues not thoroughly addressed and solved by the state or by the market, such as issues of gender-based violence, female education, and lack of rural healthcare. The data gathered was organized into two types of relationships; financial and non-financial. Financial relationships between INGOs and NGOs were often depicted as crucial in enabling critical projects, such as …

Handcuffing The Vote: Diluting Minority Voting Power Through Prison Gerrymandering And Felon Disenfranchisement, Rebecca Harrison Stevens, Meagan Taylor Harding, Joaquin Gonzalez, Emily Eby

The Scholar: St. Mary's Law Review on Race and Social Justice

For the purposes of legislative redistricting, Texas counts prison populations at the address of the prison in which they are incarcerated at the time of the census, rather than their home prior to incarceration—regardless of whether the prisoners themselves maintain a residence in their home communities and intend to return home after incarceration. This deprives those home communities of full representation in the redistricting process. Combined with Texas’s felon disenfranchisement laws, this also results in arbitrarily bolstering the representational power of some Texans on the backs of other Texans who themselves are unable to vote. All of this takes place …

Making Democracy Count: The Seemingly Technical Procedures That Can Make Or Break A Census, Charlotte Schwartz, Jeffrey Zalesin, Rachel Brown

The Scholar: St. Mary's Law Review on Race and Social Justice

Abstract forthcoming

Notoriously Ruthless: The Idolization Of Justice Ruth Bader Ginsburg, Lucille Moran

Political Science Honors Projects

It is now a fixture of mainstream commentary in the United States that Supreme Court Justice Ruth Bader Ginsburg has become a popular idol on the political left. Yet, while Justice Ginsburg’s image and story has reached an unprecedented level of valorization and even commercialization, scholars have yet to give sustained attention to the phenomenon and to contextualize it: why has this idolization emerged within this context, and what is its impact? This paper situates her portrayal in the cultural imagination as the product of two political forces, namely partisanship and identity politics. Considering parallel scholarly discourses of reputation, celebrity, …

The Cost Of The Culturati: Studying The Neighborhood Stability Impact Of Cultural District Designations, Prakash Mishra

Dartmouth Undergraduate Journal of Politics, Economics and World Affairs

The decision to declare a district for a specific cause is a critical policy decision; making an area an official office park or designated cultural site means it will attract specific types of residents and businesses and require specific amenities. This paper reviews the impact of designating a cultural district as a place-based policy, specifically by developing a measure of neighborhood stability and applying a stress test of neighborhood stability in cultural districts during the Great Recession. The model underpining the neighborhood stability measure is an optimal stopping time model which frames neighborhood rents as a Brownian motion with drift. …

Volume I | Issue Ii | 2019.Pdf, Dujpew Editorial Board

Dartmouth Undergraduate Journal of Politics, Economics and World Affairs

No abstract provided.

Masthead 2019, Dujpew Editorial Board

Dartmouth Undergraduate Journal of Politics, Economics and World Affairs

No abstract provided.

Letter From The Editor 2019, Dujpew Editorial Board

Dartmouth Undergraduate Journal of Politics, Economics and World Affairs

No abstract provided.

The Origins Of The Jones Act Of Puerto Rico, Stephanie Mercedes

Dissertations, Theses, and Capstone Projects

After the Spanish-American War that ended in 1898, Puerto Rico was given to the United States by Spain as a war booty, becoming a US colony. The first law ever created by the United States to control Puerto Rico was the Foraker Act (also known as the Organic Act of 1900). This established a civilian government in Puerto Rico. It also extended the federal government rulings to the island. After its creation, the Puerto Rican population began to wonder what their political status was since nothing was concretized until the Jones Act was signed. The Merchant Marine Act of 1920, …

A Crude Bargain: Great Powers, Oil States, And Petro-Alignment, Inwook Kim

Research Collection School of Social Sciences

Petro-alignment, a quid pro quo arrangement whereby great powers offer security in exchange for oil states’ friendly oil policies, is a widely used and yet undertheorized energy security strategy. One consequential aspect of this exchange is that great powers choose different levels of security commitment to keep oil producers friendly. With what criteria do great powers rank oil states? How do we conceptualize different types of petro-alignments? What exactly do great powers and oil producers exchange under each petro-alignment type? I posit that a mix of market power and geostrategic location determines the strategic value and vulnerability of individual client …