Open Access. Powered by Scholars. Published by Universities.®
- Institution
- Publication Year
- Publication
Articles 1 - 30 of 39
Full-Text Articles in Public Policy
Jpmorgan Chase London Whale H: Cross-Border Regulation, Arwin G. Zeissler, Andrew Metrick
Jpmorgan Chase London Whale H: Cross-Border Regulation, Arwin G. Zeissler, Andrew Metrick
Journal of Financial Crises
As a global financial service provider, JPMorgan Chase (JPM) is supervised by banking regulatory agencies in different countries. Bruno Iksil, the derivatives trader primarily responsible for the $6 billion trading loss in 2012, was based in JPM’s London office. This office was regulated both by the Office of the Comptroller of the Currency (OCC) of the United States (US) and by the Financial Services Authority (FSA), which served as the sole regulator of all financial services in the United Kingdom (UK). Banking regulators in the US and the UK have entered into agreements with one another to define basic parameters …
Public Interests And Economic Regulation Of Gambling, Rein Halbersma, Joost Poort
Public Interests And Economic Regulation Of Gambling, Rein Halbersma, Joost Poort
International Conference on Gambling & Risk Taking
In the Netherlands, the Betting and Gaming Act from 1964 largely determines the current structure of gambling markets. The policy was to channel consumers to a limited number of licensed operators. This led to state-owned monopolies for lotteries, sports betting and casinos, a private monopoly for horse race betting, a limited number of privately owned charity lotteries, and a large number of private slot machines operators.
Pending legislation proposes an online market without a limit on the number of operators. Furthermore, state ownership will be phased out, and introduced legislation to privatizing and expanding the number of casinos. The current …
Risk And Regulatory Calibration: Wto Compliance Review Of The U.S. Dolphin-Safe Tuna Labeling Regime, Cary Coglianese, André Sapir
Risk And Regulatory Calibration: Wto Compliance Review Of The U.S. Dolphin-Safe Tuna Labeling Regime, Cary Coglianese, André Sapir
All Faculty Scholarship
In a series of recent disputes arising under the TBT Agreement, the Appellate Body has interpreted Article 2.1 to provide that discriminatory and trade-distortive regulation could be permissible if based upon a “legitimate regulatory distinction.” In its recent compliance decision in the US-Tuna II dispute, the AB reaffirmed its view that regulatory distinctions embedded in the U.S. dolphin-safe tuna labeling regime were not legitimate because they were not sufficiently calibrated to the risks to dolphins associated with different tuna fishing conditions. This paper analyzes the AB’s application of the notion of risk-based regulation in the US-Tuna II dispute and finds …
The Transatlantic Oarsmen Cooperative: Doubling Down On A Transatlantic Financial Regulatory Regime, Joselyn Muhleisen
The Transatlantic Oarsmen Cooperative: Doubling Down On A Transatlantic Financial Regulatory Regime, Joselyn Muhleisen
Dissertations, Theses, and Capstone Projects
This project argues that, in the wake of the 2007-09 financial crisis, the United States (US) and European Union (EU) are doubling down on finance-led domestic growth strategies and that this is their goal in constructing a transatlantic financial regulatory regime. The regime’s goal privileges the input of industry actors over other civil society actors. The construction of this regime is in response to pressure from emerging markets and to service domestic industry actors after the financial crisis. The regime is intended to allow the US and EU to maintain their dominance within the international financial regulatory regime and continue …
Reinventing Copyright And Patent, Abraham Bell, Gideon Parchomovsky
Reinventing Copyright And Patent, Abraham Bell, Gideon Parchomovsky
All Faculty Scholarship
Intellectual property systems all over the world are modeled on the one-size-fits-all principle. However important or unimportant, inventions and original works of authorship receive the same scope of protection, for the same period, backed by the same variety of legal remedies. Metaphorically speaking, all intellectual property is equal under the law. This equality comes at a heavy price. The equality principle gives all creators access to the same remedies, even when those remedies create perverse incentives. Moreover, society overpays for innovation by inflicting on society more monopoly losses than are strictly necessary to incentivize production.
In this Article, we propose …
Two Cheers For The Fcc's Mobility Fund Reverse Auction, Scott J. Wallsten
Two Cheers For The Fcc's Mobility Fund Reverse Auction, Scott J. Wallsten
Scott J. Wallsten
The United States held its first competitive bidding, or “reverse auction,” for universal service subsidies in September 2012. While it is far too early to investigate whether this national auction generated improvements in mobile voice and broadband service in underserved areas, it is not too soon to evaluate the auction itself. This paper investigates the outcome of the Mobility Fund Phase 1 Auction (Auction 901) and considers what we could learn from it for universal service and for future planned reverse auctions, such as the upcoming incentive auction, which aims to reallocate spectrum from broadcasters to those who place a …
What Gets Measured Gets Done: Stop Focusing On Irrelevant Broadband Metrics, Scott J. Wallsten
What Gets Measured Gets Done: Stop Focusing On Irrelevant Broadband Metrics, Scott J. Wallsten
Scott J. Wallsten
Concerns regarding the state of U.S. broadband arises from a combination of focusing on the wrong metrics, a misguided interpretation of consumer preferences, and a popular obsession with rankings. These misperceptions translate into misdirected, if well-intentioned, public policies that waste scarce resources and distract from real issues like a large income-based digital divide.
How To Create A More Efficient Broadband Universal Service Program By Incorporating Demand And Cost-Effectiveness Analysis, Scott J. Wallsten
How To Create A More Efficient Broadband Universal Service Program By Incorporating Demand And Cost-Effectiveness Analysis, Scott J. Wallsten
Scott J. Wallsten
The existing high-cost fund suffers from two inherent flaws: it does not incorporate how much consumers value the services being subsidized, and does not measure the incremental, rather than average, effects of the program. This paper proposes a way to incorporate those factors into the Connect America Fund—the proposed high-cost broadband support program—to enable it to operate more efficiently than the existing high-cost program ever could.
In particular, decisions about where to provide subsidies should be based on cost-effectiveness analyses that explicitly take into account not just the cost of providing service but also how much consumers would value the …
Regulating And Deregulating The Public Utilities 1830–2010, Judith Clifton Dr.
Regulating And Deregulating The Public Utilities 1830–2010, Judith Clifton Dr.
Judith Clifton
History can provide invaluable insights into important issues of the economic and social regulation of utilities, and offer lessons towards future debates. But the history of utility regulation – which speaks of changing, diverse and complex experiences around the world – was, unfortunately, sidelined or marginalised when economists and policymakers enthusiastically embraced the question of how to reform the utilities from the 1970s. This paper provides an overview of the three, overarching, `waves' of utility regulation from the nineteenth century to the present, documenting how, when and why the ways in which the roles of the state, the market and …
From National Monopoly To Multinational Corporation: How Regulation Shaped The Road Towards Telecommunications Internationalisation, Judith Clifton, Daniel Díaz-Fuentes, Francisco Comín
From National Monopoly To Multinational Corporation: How Regulation Shaped The Road Towards Telecommunications Internationalisation, Judith Clifton, Daniel Díaz-Fuentes, Francisco Comín
Judith Clifton
One of the consequences of major regulatory reform of the telecommunications sector from the end of the 1970s – particularly, privatisation, liberalisation and deregulation – was the establishment of a new business environment which permitted former national telecommunications monopolies to expand abroad. From the 1990s, a number of these firms, particularly those based in Europe, joined the rankings of the world's leading multinational corporations. Their internationalisation was uneven, however: while some firms internationalised strongly, others ventured abroad much slower. This article explores how the regulatory framework within which telecommunications incumbents evolved over the long-term shaped their subsequent, uneven, paths to …
Secondary Spectrum Markets As Complements To Incentive Auctions, Scott J. Wallsten, John W. Mayo
Secondary Spectrum Markets As Complements To Incentive Auctions, Scott J. Wallsten, John W. Mayo
Scott J. Wallsten
No abstract provided.
The Universal Service Fund: What Do High-Cost Subsidies Subsidize?, Scott J. Wallsten
The Universal Service Fund: What Do High-Cost Subsidies Subsidize?, Scott J. Wallsten
Scott J. Wallsten
The universal service program in the United States currently transfers about $7.5 billion per year from telephone subscribers to certain telephone companies. Those funds are intended to help achieve particular policy goals, such as subsidizing telephone service in rural areas and making phone service more affordable to low-income people. The bulk of the funds, about $4.5 billion per year, subsidizes firms operating in high-cost areas. A large literature documents the inefficiency and ineffectiveness of these subsidies, raising the question of where the money goes. This paper uses data submitted by about 1,400 recipients of high-cost subsidies from 1998 – 2008 …
The Political Economy Of Telecoms And Electricity Internationalization In The Single Market, Judith Clifton, Daniel Díaz-Fuentes, Revuelta Julio
The Political Economy Of Telecoms And Electricity Internationalization In The Single Market, Judith Clifton, Daniel Díaz-Fuentes, Revuelta Julio
Judith Clifton
As a consequence of liberalization policies in the European Union (EU), a number of formerly inward-looking incumbents in telecommunications and electricity transformed themselves into some of the world’s leading Multinationals. The relationship between liberalization and incumbent internationalization, however, is contested. Three political economy arguments on this relationship are tested. The first claims that incumbents most exposed to domestic liberalization would internationalise most. The second asserts that incumbents operating where liberalization was restricted could exploit monopolistic rents to finance internationalisation. The third argument claims that a diversity of paths will be adopted by countries and incumbents vis-à-vis liberalization and internationalization. Using …
Evaluating Eu Policies On Public Services: A Citizens' Approach, Judith Clifton, Daniel Díaz-Fuentes
Evaluating Eu Policies On Public Services: A Citizens' Approach, Judith Clifton, Daniel Díaz-Fuentes
Judith Clifton
This article evaluates EU policies on public services – particularly public network services - from the citizens´ point of view. It is first argued that citizens´ perceptions are important because the provision of fundamental services is at stake and because they constitute the infrastructure necessary for social and economic development. Citizens’ “voice” can, therefore, be known, analysed and used in the design of improved policy on public services along with other indicators. Changing EU policy on public services is synthesised and classified into two main phases in section two. Citizen satisfaction with public services as revealed through surveys from 1997 …
Is The European Union Ready For Fdi From Emerging Markets?, Judith Clifton, Daniel Díaz-Fuentes
Is The European Union Ready For Fdi From Emerging Markets?, Judith Clifton, Daniel Díaz-Fuentes
Judith Clifton
This chapter asks whether the European Union Member States are ready for inward Foreign Direct Investment from the Emerging Markets. It concludes that European Union Member States have relatively open Foreign Direct Investment regimes in the international context, and yet instances of protectionism have been apparent in the recent period. However, protectionism has occurred both vis-a-vis Foreign Direct Investment from the Global South as well as from within the European Union, particularly in the so-called 'strategic' industries.
Testimony On Reforming The Universal Service High Cost Fund, Scott J. Wallsten
Testimony On Reforming The Universal Service High Cost Fund, Scott J. Wallsten
Scott J. Wallsten
No abstract provided.
Wobbling Back To The Fire: Economic Efficiency And The Creation Of A Retail Market For Set-Top Boxes, T. Randolph Beard, George S. Ford, Lawrence J. Spiwak, Michael Stern
Wobbling Back To The Fire: Economic Efficiency And The Creation Of A Retail Market For Set-Top Boxes, T. Randolph Beard, George S. Ford, Lawrence J. Spiwak, Michael Stern
GEORGE S FORD
Under Section 629 of the Communications Act, Congress directed the FCC to adopt regulations to promote a retail market for set-top boxes. The Commission’s first attempt was the ill-fated CableCard experiment, which—by the Commission’s own admission—was a dismal failure. In response, the Commission is now contemplating an aggressive new “AllVid” regime, whereby the agency would mandate multichannel video program distributors (“MVPDs”) to provide an adapter to serve as a “common interface for connection to televisions, DVRs, and other smart video devices.” Because the FCC is again proceeding without any formal economic analysis of the nature of the service-equipment relationship in …
The Dtv Coupon Program: A Boon To Retailers, Not Consumers, Scott J. Wallsten
The Dtv Coupon Program: A Boon To Retailers, Not Consumers, Scott J. Wallsten
Scott J. Wallsten
No abstract provided.
Testimony For Fcc En Banc Hearing At Carnegie Mellon University On Broadband And The Digital Future, Scott J. Wallsten
Testimony For Fcc En Banc Hearing At Carnegie Mellon University On Broadband And The Digital Future, Scott J. Wallsten
Scott J. Wallsten
No abstract provided.
Reverse Auctions And Universal Telecommunications Service: Lessons From Global Experience, Scott J. Wallsten
Reverse Auctions And Universal Telecommunications Service: Lessons From Global Experience, Scott J. Wallsten
Scott J. Wallsten
The United States now spends around $7 billion on universal service programs—subsidies intended to ensure that the entire country has access to telecommunications services. Most of this money supports telecommunications service in “high cost” (primarily rural) areas, and the High Cost fund is growing quickly. In response to this growth, policymakers are considering using reverse auctions, or bids for the minimum subsidy, as a way to reduce expenditures. While the U.S. has not yet distributed funds for universal service programs using reverse auctions, the method has been used widely. First, reverse auctions are akin to standard government procurement procedures, which …
A Regulatory Play In Two Acts, Scott J. Wallsten
A Regulatory Play In Two Acts, Scott J. Wallsten
Scott J. Wallsten
No abstract provided.
Broadband And Unbundling Regulations In Oecd Countries, Scott J. Wallsten
Broadband And Unbundling Regulations In Oecd Countries, Scott J. Wallsten
Scott J. Wallsten
Broadband penetration and available speeds vary widely across OECD countries. Policymakers around the world, and especially in countries like the U.S. that lag in the rankings, are searching for policies to narrow those gaps. Relatively little empirical work tests possible reasons for these differences. In this paper I test the impacts of regulations and demographics on broadband development in a panel dataset across countries. In addition to adding to the meager empirical literature on broadband across countries, this paper is novel in two ways. First, it explicitly takes into account the many different types of unbundling regulations that countries have …
Telecommunications Regulation In U.S. States: Its Rise And Impacts In The Early Twentieth Century, Scott J. Wallsten
Telecommunications Regulation In U.S. States: Its Rise And Impacts In The Early Twentieth Century, Scott J. Wallsten
Scott J. Wallsten
No abstract provided.
Universal Telecommunications Service In India, Roger G. Noll, Scott J. Wallsten
Universal Telecommunications Service In India, Roger G. Noll, Scott J. Wallsten
Scott J. Wallsten
No abstract provided.
Broadband Penetration: An Empirical Analysis Of State And Federal Policies, Scott J. Wallsten
Broadband Penetration: An Empirical Analysis Of State And Federal Policies, Scott J. Wallsten
Scott J. Wallsten
No abstract provided.
‘Empowering Europe’S Citizens’? Towards A Charter For Services Of General Interest, Judith Clifton, Daniel Díaz-Fuentes, Francisco Comín
‘Empowering Europe’S Citizens’? Towards A Charter For Services Of General Interest, Judith Clifton, Daniel Díaz-Fuentes, Francisco Comín
Judith Clifton
This article analyses the development of the European Union (EU) project of a Charter for Services of General Interest (SGI) from the mid-1990s to the publication of the White Paper on Services of General Interest and the draft European Constitution in 2004. Though service charters are often associated with New Public Management (NPM) reforms related to privatization, they are also an integral part of the process of EU institution building, and need to be understood alongside developments such as the Charter of Fundamental Rights. Using a four-stage model of international NPM convergence analysis four phases of the Charter for SGI …
The Role Of Politics And Policy In Television Regulation, Christopher S. Yoo
The Role Of Politics And Policy In Television Regulation, Christopher S. Yoo
All Faculty Scholarship
This article is a reply to Thomas Hazlett’s commentary on my article entitled, “Rethinking the Commitment to Free, Local Television.” Although politics and public choice theory represent an important approach for analyzing government actions, economic policy still exercises some influence over the regulation of television. On the one hand, we agree that the regulatory preference of free television and local programming is more a reflection of political considerations than economic policy and that the importance of promoting communities of interest over geographic communities, and the potential for new services such as Digital Audio Radio Services to benefit consumers. On the …
Regulation: Benefit Or Bane, Murray L. Weidenbaum
Regulation: Benefit Or Bane, Murray L. Weidenbaum
Murray Weidenbaum Publications
Murray Weidenbaum and Carol Tucker Foreman debate what are the best ways to improve government regulation.
Government Regulation Of The Automobile: Extensive And Growing, Murray L. Weidenbaum
Government Regulation Of The Automobile: Extensive And Growing, Murray L. Weidenbaum
Murray Weidenbaum Publications
Automobile regulation is very burdensome and in many cases works at cross-purposes. By increasing safety features, fuel economy may be reduced.
An Ambitious Agenda For Economic Growth, Murray L. Weidenbaum
An Ambitious Agenda For Economic Growth, Murray L. Weidenbaum
Murray Weidenbaum Publications
An extensive array of expenditure, tax, and regulatory reforms could help in shifting the American economy to a sustainable higher growth path. Carrying out needed changes requires more than developing attractive new programs; it also means making a continuous stream of hard choices.