With No Deterrent Effect, The Wto Dispute Settlement Crisis Leaves Us Exporters Exposed, Especially Us Agriculture,
2022
Yeutter Institute
With No Deterrent Effect, The Wto Dispute Settlement Crisis Leaves Us Exporters Exposed, Especially Us Agriculture, Christine Mcdaniel
Yeutter Institute International Trade Policy Review
The absence of a functioning Appellate Body at the World Trade Organization (WTO) leaves the dispute settlement mechanism weakened, and countries may be more likely to pursue their domestic policy goals in ways that restrict trade. Industries with relatively large export exposure like US agriculture will be particularly vulnerable in this new chaotic regime. The deterrent effect is more important than you think An integral part of the world trading system has been the WTO’s dispute settlement mechanism, which enables the WTO to enforce the rules the Members signed up for. Knowing you could get sued in the WTO for …
Climate Change And The Threat To U.S. Jails And Prisons,
2022
Villanova University Charles Widger School of Law
Climate Change And The Threat To U.S. Jails And Prisons, Laurie L. Levenson
Villanova Environmental Law Journal (1991 - )
No abstract provided.
Cities In A Pandemic: Evidence From China,
2022
Syracuse University
Cities In A Pandemic: Evidence From China, Badi H. Baltagi, Ying Deng, Jing Li, Zhenlin Yang
Center for Policy Research
This paper studies the impact of urban density, city government efficiency, and medical resources on COVID-19 infection and death outcomes in China. We adopt a simultaneous spatial dynamic panel data model to account for (i) the simultaneity of infection and death outcomes, (ii) the spatial pattern of the transmission, (iii) the inter-temporal dynamics of the disease, and (iv) the unobserved city- and time-specific effects. We find that, while population density increases the level of infections, government efficiency significantly mitigates the negative impact of urban density. We also find that the availability of medical resources improves public health outcomes conditional on …
State Capitalism’S Inability To Alter The Global Power Structure,
2022
Gettysburg College
State Capitalism’S Inability To Alter The Global Power Structure, Michael R. Woods
Student Publications
In the modern day, many nations have instituted State Capitalist policies to grow their economies and increase their international influence. To evaluate the efficacy of this strategy, this paper analyzes the historical impacts of State Capitalism, as well as its effects upon economic concepts, including competition and innovation. This work also analyzes the ways in which State Capitalist policies have negatively impacted the international reputations of nations such as Russia and China and explores the specific national characteristics and circumstances that are required to truly alter the global power structure. Ultimately, the work concludes that state capitalism is unlikely to …
The Effects Of Economic Globalization On Voter Turnout,
2022
Gettysburg College
The Effects Of Economic Globalization On Voter Turnout, Patrick L. Mahoney
Student Publications
Over the last 30 years, voter turnout, which is often considered to be an important sign of the vitality of a democracy, has been decreasing throughout the world. Traditional factors that drive voter turnout have not dramatically changed within the same period, suggesting that another factor is potentially at play. I contend that globalization, specifically economic globalization, has played a significant role in driving down voter turnout in the late 20th and early 21st centuries. First, economic globalization limits national autonomy in areas of economic policy by constraining national policymakers in their ability to implement substantive policy change. Second, as …
Thatcherism's Triumph: How Margaret Thatcher’S Neoliberal Policies Brought Prosperity To Britain,
2022
Gettysburg College
Thatcherism's Triumph: How Margaret Thatcher’S Neoliberal Policies Brought Prosperity To Britain, Carl J. Demarco Jr.
Student Publications
By 1979, the British economy was in complete and utter disarray. Inflation was at record highs along with unemployment. The post-world war consensus was built off the idea of embedded liberalism, which stressed that the government must play a large and active role in regulating the markets and that it was in the government's interest to keep unemployment at its natural low. Similar to the United States, since the Great Depression the welfare state in Great Britain had been expanding. The post-war consensus proclaimed and exhausted the economic theories of John Maynard Keynes who believed in embedded liberalism and the …
The Role Of Village Savings And Loan Associations In Poverty Graduation Programs: A Process Analysis,
2022
American University in Cairo
The Role Of Village Savings And Loan Associations In Poverty Graduation Programs: A Process Analysis, Noha Abdel Hamid
Theses and Dissertations
Ten percent of the global population live in extreme poverty under $1.90 a day. To combat chronic multidimensional poverty, the Bangladesh Rural Advancement Committee (BRAC)created the Graduation Approach, which consists of a Big Push effect implemented through a series of interventions including asset transfer, mentoring, saving groups and a series of service provisions, to push ultra-poor households to exit poverty sustainably. Implemented so far in over 50 countries, the model has shown positive results even after ten years of the first interventions. Sawiris Foundation for Social Development partnered with BRAC and the Abdul Latif Jameel Poverty Action Laboratory (J-PAL) to …
Lessons Learned: Christopher Spoth,
2022
Yale University
Lessons Learned: Christopher Spoth, Sandra Ward
Journal of Financial Crises
As senior deputy director of the Division of Supervision and Consumer Protection at the Federal Deposit Insurance Corporation (FDIC), Spoth led examinations, enforcement actions, problem bank remediations, and failure resolutions, among a range of responsibilities. During the Global Financial Crisis, he was on the front lines of fast-moving policy discussions and actions to help stabilize the financial system, and he oversaw the closure and restructuring of some of the nation’s largest banks. This abstract is based on an interview with Spoth on February 4, 2021.
Lessons Learned: Kevin Warsh,
2022
Yale University
Lessons Learned: Kevin Warsh, Matthew A. Lieber
Journal of Financial Crises
As senior deputy director of the Division of Supervision and Consumer Protection at the Federal Deposit Insurance Corporation (FDIC), Spoth led examinations, enforcement actions, problem bank remediations, and failure resolutions, among a range of responsibilities. During the Global Financial Crisis, he was on the front lines of fast-moving policy discussions and actions to help stabilize the financial system, and he oversaw the closure and restructuring of some of the nation’s largest banks. This abstract is based on an interview with Spoth on February 4, 2021.
Lessons Learned: Brian Sack,
2022
Yale University
Lessons Learned: Brian Sack, Sandra Ward
Journal of Financial Crises
Charged with overseeing the implementation of the asset-purchase programs and liquidity facilities in his roles as executive vice president of the Markets Group and manager of the System Open Market Account at the Federal Reserve Bank of New York (FRBNY), Brian Sack played a critical role in keeping markets functioning during the years 2009–2012. He served as an adviser to top policymakers, and, in addition to implementing the various programs designed to stabilize financial conditions, he monitored their impact and measured their performance. This Lessons Learned summary is based on an interview with Sack on November 13, 2020.
Lessons Learned: Nathan Sheets,
2022
Yale School of Management
Lessons Learned: Nathan Sheets, Yasemin Sim Esmen, Rosalind Z. Wiggins
Journal of Financial Crises
Between 2007 and 2011, Nathan Sheets was director of the Division of International Finance at the Board of Governors of the Federal Reserve System. He oversaw the operations of the division and advised the Federal Open Market Committee (FOMC) on economic and financial developments in foreign countries. Sheets also regularly represented the Federal Reserve Board at international meetings and in its contacts with foreign central banks. Under his helm, the division was involved in helping establish and manage the US dollar liquidity swap lines with foreign central banks. This Lessons Learned abstract is based on an interview with Sheets on …
Lessons Learned: Susan Mclaughlin,
2022
Yale University
Lessons Learned: Susan Mclaughlin, Matthew A. Lieber
Journal of Financial Crises
A veteran staff member of the Federal Reserve Bank of New York (FRBNY), Susan McLaughlin served as head of the discount window and chief operating officer of the FRBNY’s Markets Trading Desk during the Global Financial Crisis. She was centrally involved in the Fed’s policy response to the disruptions to secured and unsecured funding markets during 2007–2008. Following the crisis, McLaughlin coordinated an effective Fed initiative to reform the triparty repurchase agreement (repo) market’s settlement infrastructure. The Fed’s reform efforts, engaging the financial industry under FRBNY president Bill Dudley, were instrumental in im-proving the stability of the funding market. This …
Lessons Learned: Frederic Mishkin,
2022
Yale University
Lessons Learned: Frederic Mishkin, Matthew A. Lieber
Journal of Financial Crises
Rick Mishkin served as a member of the Board of Governors of the Federal Reserve System from 2006 to 2008 and as director of research at the Federal Reserve Bank of New York from 1994 to 1997. A leading expert on monetary economics and financial markets and a professor at Columbia University’s School of Business since 1983, Mishkin has written 20 books, including the textbook The Economics of Money, Banking, and Financial Markets. This Lessons Learned is based on an interview with Mishkin conducted on October 20, 2020.
Lessons Learned: Simon Potter,
2022
Yale University
Lessons Learned: Simon Potter, Maryann Haggerty
Journal of Financial Crises
Simon Potter, an economist, worked at the Federal Reserve Bank of New York for more than two decades. Leading up to the Global Financial Crisis, he was the New York Fed’s associate director of economic research; in 2010, he became director. In 2012, he shifted to become the head of the markets group, putting him at the helm of the Fed’s open markets operations, the mechanism by which the central bank steers monetary policy and interest rates. He moved to the private sector in 2019. For this April 2021 Lessons Learned interview, he emphasized that these are his personal opinions, …
Lessons Learned: Kieran J. Fallon,
2022
Yale University
Lessons Learned: Kieran J. Fallon, Matthew A. Lieber
Journal of Financial Crises
Presently the senior deputy general counsel for regulation and government affairs at PNC Fi-nancial Services Group, Kieran Fallon completed a 16-year tenure in the legal division of the Board of Governors of the Federal Reserve System in 2011. As associate general counsel dur-ing the Global Financial Crisis (GFC), he helped design the Federal Reserve’s Commercial Pa-per Funding Facility, restructure American International Group (AIG), and implement the Dodd-Frank Act. Relatedly, Fallon also served as general counsel for the Financial Stability Oversight Board from 2008 to 2011. This Lessons Learned is based on an interview conducted with Fallon on August 13, 2020.
Lessons Learned: Steven B. Kamin,
2022
Yale University
Lessons Learned: Steven B. Kamin, Yasemin Sim Esmen
Journal of Financial Crises
Steven B. Kamin was the deputy director of the division of international finance at the Federal Reserve Board during the Global Financial Crisis (GFC) and was appointed director in 2011. He was responsible for research, policy analysis, and reporting in the areas of foreign economic activity, US external trade and capital flows, and developments in international financial markets and institutions. This Lessons Learned is based on an interview conducted with Kamin on August 16, 2019.
Lessons Learned: Seth Carpenter,
2022
Yale University
Lessons Learned: Seth Carpenter, Maryann Haggerty
Journal of Financial Crises
Seth Carpenter was a senior staff member of the Division of Monetary Affairs at the Federal Reserve Board during the 2007–09 Global Financial Crisis (GFC), meaning he was part of the team that advised the Board of Governors and members of the Federal Open Market Committee (FOMC) in setting monetary policy. He led the Board team that worked daily with the Open Market Trading Desk at the Federal Reserve Bank of New York to implement policy. He left the Federal Reserve System as deputy director of monetary affairs in 2014 to work at the US Department of the Treasury, where …
Lessons Learned: Tim Clark,
2022
Yale University
Lessons Learned: Tim Clark, Lynnley Browning
Journal of Financial Crises
During the Global Financial Crisis of 2007–09, Tim Clark was senior adviser in the Division of Banking Supervision and Regulation at the Board of Governors of the Federal Reserve System. Clark was a chief architect of the Federal Reserve’s capital and liquidity stress tests that helped to stabilize the banks. He was also one of the leaders behind the implementation of the Dodd-Frank Act and other reforms at the Federal Reserve, and ultimately served as deputy director of the Division for Supervision and Regulation. This abstract is based on an interview with Clark that occurred on December 13, 2019.
The Internal Capital Markets Of Global Dealer Banks,
2022
Federal Reserve System: Board of Governors
The Internal Capital Markets Of Global Dealer Banks, Arun Gupta
Journal of Financial Crises
This study uncovers the existence of a trillion-dollar internal capital market that played a central role in the financing of dealer banks during the 2007–09 Global Financial Crisis. Hand-collecting a novel set of dealer microdata at the subsidiary level, I present a unique set of facts on the evolution of inter-affiliate loans between US primary dealers and their (primarily foreign) siblings. First, the aggregate size of these dealer internal capital markets quadrupled from $335 billion in 2001 to $1.2 trillion by 2007. Second, 25 percent of total repurchase agreements and 62 percent of total securities lending reported on US primary …
Lessons Learned: John Bovenzi,
2022
Yale University
Lessons Learned: John Bovenzi, Sandra Ward
Journal of Financial Crises
As a deputy to the chairman of the Federal Deposit Insurance Corporation (FDIC) and in his role as chief operating officer of the agency, John Bovenzi provided policy advice and oversaw the agency’s operations, including business lines, bank supervision, bank closings, deposit insurance, and administrative affairs. Bovenzi’s most notable role during the Global Financial Crisis was manning the helm of mortgage lender IndyMac after the FDIC took it over in July 2008 to position it for a sale. This abstract is based on an interview with Bovenzi conducted on December 2, 2020
