Public Policy Commons^™

Basel Iii B: Basel Iii Overview, Christian M. Mcnamara, Michael Wedow, Andrew Metrick

Journal of Financial Crises

In the wake of the financial crisis of 2007-09, the Basel Committee on Banking Supervision (BCBS) faced the critical task of diagnosing what went wrong and then updating regulatory standards aimed at preventing it from occurring again. In seeking to strengthen the microprudential regulation associated with the earlier Basel Accords while also adding a macroprudential overlay, Basel III consists of proposals in three main areas intended to address 1) capital reform, 2) liquidity standards, and 3) systemic risk and interconnectedness. This case considers the causes of the 2007-09 financial crisis and what they suggest about weaknesses in the Basel regime …

Basel Iii A: Regulatory History, Christian M. Mcnamara, Thomas Piontek, Andrew Metrick

Journal of Financial Crises

From the earliest efforts to mandate the amount of capital banks must maintain, regulators have grappled with how best to accomplish this task. Until the 1980s, regulation had been based largely on discretion and judgment. In the wake of two bank failures, the central bank governors of the G10 countries established the Basel Committee on Banking Supervision (BCBS) and in 1988, the BCBS introduced a capital measurement system, Basel I. The system represented a triumph of the fixed numerical approach, however, critics worried that it was too blunt an instrument. In 1999, the BCBS issued Basel II, a proposal to …

Jpmorgan Chase London Whale Z: Background & Overview, Arwin G. Zeissler, Rosalind Bennett, Andrew Metrick

Journal of Financial Crises

In December 2011, the Chief Executive Officer and Chief Financial Officer of JPMorgan Chase (JPM) instructed the bank’s Chief Investment Office to reduce the size of its Synthetic Credit Portfolio (SCP) during 2012, so that JPM could decrease its Risk-Weighted Assets as the bank prepared to adopt the impending Basel III bank capital regulations. However, the SCP traders were also told to minimize the trading costs incurred to reduce Risk-Weighted Assets, while still maintaining the opportunity to profit from unexpected corporate bankruptcies. In an attempt to balance these competing objectives, head SCP derivatives trader Bruno Iksil suggested in January 2012 …

Incorporating Macroprudential Financial Regulation Into Monetary Policy, Aaron Klein

Journal of Financial Crises

This paper proposes two insights into financial regulation and monetary policy. The first enhances understanding the relationship between them, building on the automobile metaphor that describes monetary policy: when to accelerate or brake for curves miles ahead. Enhancing the metaphor, financial markets are the transmission. In a financial crisis, markets cease to function, equivalent to a transmission shifting into neutral. This explains both monetary policy’s diminished effectiveness in stimulating the economy and why the financial crisis shock to real economic output greatly exceeded central bank forecasts.

The second insight is that both excess leverage and fundamental mispricing of asset values …

Examining The Effects Of Public Policies And Addiction On Purchase Of Tobacco Products With Causal Inference And Machine Learning Methods, Xueting Deng

Theses and Dissertations--Agricultural Economics

My three essays explore the effects of tobacco policies and addiction on the consumption of e-cigarettes and other tobacco products. Recently, jurisdictions imposed taxes and other regulations on e-cigarettes, with the hope to raise tax revenues and address health concerns regarding e-cigarette use, especially youth addiction. My first essay in Chapter 1 focuses on the effects of e-cigarette taxes on sales of e-cigarettes. It compares the two types of tax policies on sales of e-cigarettes, cigarettes, and smoking-cessation products. This comparison provides information for lawmakers on decisions of taxes regarding the perspectives of revenue generation and tobacco control. Second, after …

The Global Child: A Roadmap For Becoming Culturally Responsive Educators, Ana I. Berdecia Med, Caitlin Kosec Mpp, Kamili O. Leath Ms, The John S. Watson Institute For Public Policy For Thomas Edison State College

Center for the Positive Development of Urban Children

The program strategies and the assessment tools encourage early childhood teachers to adopt 26 strategies across three competency areas: 1) classroom design; 2) teachers’ rhythm and temperament; and 3) instructional strategies during the 10-month program year. Mentors are assigned to each teaching team and through supportive site visits and assessment visits help the teams change their thinking and practices to be more culturally and linguistically responsive.

Synergies And Competition: Export Survival In Africa And Latin America, Luisa Blanco, Jesse Mora, Michael Olabisi, James E. Prieger

All Faculty Open Access Publications

Using firm-level export data from six African (Burkina Faso and Senegal) and Latin American (Guatemala, Mexico, Peru, and Uruguay) countries, we examine factors that determine the survival of export flows. We explore the effects on export survival of changes in the number of home-country exporters serving the same destination, firm-level export diversification, and country-level factors. Unlike previous studies, we find that export survival rates decrease with the number of co-exporters selling the same product to the same country. We also find that the relationship between firm-level product diversification and export flow survival is hump-shaped: firms that do not diversify or …

Panel Discussion: The Right To Education: With Liberty, Justice, And Education For All?

Northwestern Journal of Law & Social Policy

No abstract provided.

Measuring Comprehensive Wellbeing In Vermont: An Applied Economics Perspective, Katherine Gallagher

Graduate College Dissertations and Theses

While human “wellbeing” has historically been measured by economic growth, traditional metrics do not fit the challenges of the 21st century. Increasingly, decision-makers are adopting new guiding frameworks that encompass a more holistic understanding of wellbeing and progress including concepts such as ecological health and subjective wellbeing. Yet, the development processes and implementation challenges faced by these initiatives - as well as the opportunities for advancement - remain relatively unexamined for state and regional communities. This research considers the implementation and potential of existing wellbeing indicator systems in Vermont. With limited research on wellbeing measurement at the state or local …

Thailand’S Digital Economy Transformation: Rectifying The Middle-Income Trap By Leveraging Digital Capabilities In The Agriculture Industry, Watanyoo Suksa-Ngiam

CGU Theses & Dissertations

The Thai government has been attempting to move the country out of the middle-income trap through digital economy strategies. Among these strategies, digital innovation is the most central. Leveraging digital capabilities in the agriculture industry, a sector that a large number of low-income farmers work in, conveys digital innovations to farmers. Digital innovation is expected to increase farmer incomes and ultimately help the country step out of the middle-income trap. This dissertation aimed to 1) identify the major challenges of digital economy transformation, 2) develop a model that explains digital agriculture innovations, 3) apply the model to real use cases …

Examining Barriers Impacting Women’S Promotion Into C-Suite Positions In Higher Education, Lynette Johnson Nelson

Walden Dissertations and Doctoral Studies

The United States Department of Labor indicated that women represent 46.8% and men represent 53.2% of the United States’ 16 years and older civilian labor force. An estimated 52% of adult women compared to 48% of men participating in the civilian labor force held a bachelor’s degree or higher, and women represented 47% of the management and professional sector’s positions. Women occupy 25% of C-suite positions in the Standard & Poor 500 companies. In higher education, 30% of college presidents are women. Women continue to face several barriers as they try to move into senior executive leadership positions. The specific …

Budget Support And Quality Of Public Governance In West Africa, Ademonkoun Rodolphe Godfried Missinhoun

Walden Dissertations and Doctoral Studies

Donors have been increasingly using budget support since 2000 to associate development aid delivery with improved development institutions and good policies that will ensure aid effectiveness, in particular in West Africa Economic and Monetary Union (WAEMU) countries. There is however little evidence that budget support promotes good policies and institutions in WAEMU countries. The purpose of this quantitative research was to explore relationships between budget support as an official development assistance modality and public expenditures efficiency as an indicator of public governance quality. The aid effectiveness theoretical framework developed by Cordello and Dell ’Ariccia informed research questions to determine whether …

Three Essays On Health Economics And Policy Evaluation, Shishir Shakya

Graduate Theses, Dissertations, and Problem Reports

This dissertation consists of three essays on the U.S. Health care policy. Each paragraph below refers to the three abstracts for the three chapters in this dissertation, respectively. I provide quantitative evidence on how much Prescription Drug Monitoring Programs (PDMPs) affects the retail opioid prescribing behaviors. Using the American Community Survey (ACS), I retrieve county-level high dimensional panel data set from 2010 to 2017. I employ three separate identification strategies: difference-in-difference, double selection post-LASSO, and spatial difference-in-difference. I compare how the retail opioid prescribing behaviors of counties, that are mandatory for prescribers to check the PDMP before prescribing controlled substances …

The Comedy Of Maine’S Commons: Private Ownership As Economic Development, Michael Cianchette

Maine Policy Review

In Maine, we have managed to avoid the tragedy of the commons in several arenas. One way we have supplanted tragedy with comedy is through supporting and respecting private ownership of property. Some of this support is by necessity, as areas that might be publicly owned in other states—such as our expansive forests—are predominately privately owned in Maine. Other times, it is through a recognition that the private sector supports responsible public investment and is willing to financially support it through increased tax revenue. As Maine prepares for its next 200 years, policymakers should take heed of these examples. Government …

Environmental Governance For Whom? Examining The Political, Institutional, Fiscal, And Legal Determinants Of State Environmental Agency Budget Policy In The Us, Andrew R. Duggan

Theses and Dissertations

Budgets are a prospective tool of governance, and appropriations are a planning vehicle reflecting: bureaucracies’ values, complex interactions, collective preferences, political influences, and available resources. Research spanning 30 years finds that environmental pollution is a key determinant of environmental budgets in the US, though myriad factors, actors, and subsystems are important to consider. Due to federalism and devolution of responsibilities and authorities, environmental governance falls largely to the states. While the dynamics that shape state environmental budget policy have received scholarly interest, theoretically-driven examinations of environmental appropriations remain limited within the public budgeting and environmental policy literature.

Using panel data …

Why We Use A New Currency: The Role Of Trust And Control In Explaining The Perception And Usage Of Bitcoin, Joseph B. Walton

Theses and Dissertations

Social media, e-commerce, global peer-to-peer technologies, and the near ubiquity of computers and smartphones allow people to interact, trust, and exchange value across traditional socio-economic control boundaries and over significant distances. Since the creation in 2008 of a new cryptographic currency system called Bitcoin, a financial technology market sector of about 250 billion USD has rapidly emerged, raising questions about the nature of currency in society and whether new types of non-national money are warranted and viable. This debate has pitted heterodox economic interests against orthodox economic interests while it has rekindled interest in theories that view money as a …

Evidence-Based Approach To Drug Crisis, Jiebing Wen

Theses and Dissertations--Public Policy and Administration

I am devoted to health policy research, especially tackling the opioid crisis, and evaluating marijuana laws and newly emerging issues associated with legal recreational drugs. Opioid overdose in the United States continues to jeopardize public health. Meanwhile, the majority of states have legalized medical marijuana and one third of them further liberalized recreational marijuana. Marijuana liberalization, although originally independent of the growing opioid crisis, may be a harm reduction approach to the crisis because marijuana may be a substitute for opioids in pain management at a relatively lower risk. However, marijuana liberalization may also lead to marijuana-related harms, such as …

Healthy And Unhealthy Responses To American Democratic Institutional Failure, Thomas D'Anieri

CMC Senior Theses

I have set out on the hunch that politics in America “feels different,” that we are frustrated both with our institutions as well as with one another. First, I will seek to empirically verify this claim beyond mere “feelings.” If it can be shown that these kinds of discontent genuinely exist to the extent that I believe they do, I will then explain why people feel this way and why things are different this time from the economic, political, and social points of view. Next, I will examine two potential responses, what I will call the populist and the institutional …

Escaping The Snowstorm: Legal Rights And Economics In The Developing World, Zane Tolchinsky

CMC Senior Theses

In this thesis, I seek to provide a framework for developing nations making policy-decisions about legal rights, as in the realm of Rawlsian ideal theory, prescriptions for governments not living in conditions of moderate scarcity is lacking. I first springboard off Stephen Holmes and Cass R. Sunstein’s conclusion that “all legal rights are positive,” from their book, The Cost of Rights, to argue for the value of considering the economic implications of rights protections. I then propose that Holmes and Sunstein’s conclusion means that we can think of legal rights as goods to be purchased by governments. Next, I …

What Happens When Cross-Sector Partnerships Are Mandated? Analyzing Trust Through A Transaction Cost Approach, Vanessa Hubbard Rastberger Dr

Theses and Dissertations

Cross-sector partnerships that combine the perspectives and needs of public, private, and nonprofit sectors have been used to address public policy challenges. Research has shown that trust and reputation among partners play an important role in the performance of partnerships. Trust has been positively associated with the reduction of transaction costs of partnerships, and therefore, this study used a Transaction Cost Economics (TCE) approach as the theoretical framework.

Some partnerships are volitional while others are the results of legal or other mandates. Does this volitional or non-volitional (mandated) status affect how collaboration is perceived? For instance, will collaboration and trust …