Policy History, Theory, and Methods Commons^™

Brazil: Time Deposits With Special Guarantee, Sharon M. Nunn

Journal of Financial Crises

Uncertainty from the Global Financial Crisis spread to the Brazilian financial system in 2008, triggering a flight to quality toward assets with explicit or implicit government guarantees. In the Brazilian context, this meant depositors pulled funds from small and medium-size banks and parked them in larger banks that investors believed the government was more likely to backstop. The National Monetary Council (CMN) created the Time Deposits with Special Guarantee program (DPGE) in March 2009 to bolster liquidity in small and medium-size banks. The CMN put the country’s existing deposit insurer, the Credit Guarantee Fund (FGC), in charge of administering the …

Austria: Unlimited Deposit Guarantee, Sharon M. Nunn

Journal of Financial Crises

After Germany and Ireland implemented unlimited deposit guarantees, Austrian officials passed a law on October 26, 2008, that removed deposit-insurance limits for individual depositors, fearing that Austrians would move their money to countries with higher deposit coverage. The government established the program using the country’s existing, mandatory deposit-insurance system (DIS), which was private, ex post funded, and segmented into sectoral schemes that covered different kinds of financial institutions. During payouts, the schemes covered the first EUR 50,000 (USD 67,000) of guaranteed funds to a given depositor, and the government the government covered the rest. The government required all financial institutions …

Broad-Based Emergency Liquidity Programs, Rosalind Z. Wiggins, Sean Fulmer, Greg Feldberg, Andrew Metrick

Journal of Financial Crises

In this paper, we analyze broad-based emergency liquidity (BBEL) programs. Our main purpose is to assist policymakers who are considering establishing a BBEL program in designing the most effective program possible as efficiently as possible. Our insights are derived from 33 case studies the Yale Program on Financial Stability produced and existing literature on the topic.

Liquidity provision is a long-established mandate of central banks and was a function that private entities performed even before the establishment of central banks. We survey a sampling of cases from the 19th through 21st centuries, drawn from 10 countries and regions, to distill …

Australia: Financial Claims Scheme, Ezekiel Vergara

Journal of Financial Crises

Following the collapse of Lehman Brothers on September 15, 2008, the Australian government intervened in its own banking system, both to support domestic depositors and to keep its banking system competitive with those in countries whose regulators had already intervened. On October 12, 2008, the Australian government announced the Financial Claims Scheme (FCS) to insure bank depositors. The deposit guarantee automatically insured depositors at all authorized deposit-taking institutions and covered a range of deposit accounts. As initially announced, the FCS would provide a blanket guarantee to all depositors with no fee for participation. This blanket guarantee, however, prompted a migration …

Market Support Programs: Covid-19 Crisis, June Rhee, Lily S. Engbith, Greg Feldberg, Andrew Metrick

Journal of Financial Crises

This paper is an analysis of important considerations for policymakers seeking to establish a market support program (MSP). Our main purpose is to assist policymakers who have already made the decision to use an MSP in designing the most effective program possible. Our insights derive from 23 case studies the Yale Program on Financial Stability produced and existing literature on the topic.

By the onset of the Global Financial Crisis (GFC), market-based finance and traditional banking systems were significantly intertwined, and the panic in market-based finance threatened to spread quickly to both traditional banks and the real economy. In response, …

Dividends And Bank Capital In The Global Financial Crisis Of 2007–2009, Viral V. Acharya, Irvind Gujral, Nirupama Kulkarni, Hyun Song Shin

Journal of Financial Crises

The headline numbers appear to show that even as banks and financial intermediaries suffered large credit losses in the Global Financial Crisis of 2007–2009, they raised substantial amounts of new capital, both from private investors and from government-funded capital injections. However, on closer inspection, the composition of bank capital shifted radically from one based on common equity to that based on debt-like hybrid claims such as preferred equity and subordinated debt. The erosion of common equity was exacerbated by large-scale payments of dividends, in spite of widely anticipated credit losses. Dividend payments represent a transfer from creditors (and potentially taxpayers) …

Account Guarantee Survey, Christian M. Mcnamara, Adam Kulam, Greg Feldberg, Andrew Metrick

Journal of Financial Crises

This paper surveys 27 account guarantee (AG) programs across 14 Key Design Decisions. The main themes that emerge are: (a) the importance of considering the effects of AG programs on other parts of the financial system or other jurisdictions, (b) the ability to address moral hazard through heightened supervision, which removes a potential obstacle to adopting AG programs in response to the acute phase of crises, (c) the necessity of developing guarantees that are credible and timely, and (d) the need to design standing AG programs with an eye toward how they will function during crises.

School Related Criminal Acts, Interpersonal Problems, And Classroom Behaviors As A Function Of The Proportion Of Black Students And Black Teachers, Leanne Zaire

Clinical Psychology Dissertations

This study’s purpose was to investigate school-level behavioral outcomes in relation to the proportion of Black teachers and students in U.S. schools. Negative school outcome and academic achievement gaps are well-documented. However, many of these studies utilized small, localized populations; my research used national data and focused on the problem behaviors in school. Drawing from Critical Race Theory, I hypothesized that a greater proportion of Black teachers would reduce school student problems and negative behaviors (e.g., student verbal abuse of teachers, widespread disorder in classrooms). After receiving a restricted-use license, I utilized data from 25,818 schools from the National Teacher …

Solving For Affordability In The San Francisco Housing Crisis: Is California’S Regional Housing Needs Allocation (Rhna) The Answer?, Matthew J. Mandich

Master's Projects and Capstones

Over the last two decades San Francisco has been suffering from a worsening housing shortage and affordability crisis, as housing production has lagged far behind job growth in the city and the region. As San Francisco’s housing market is especially supply constrained due to its unique geography, long-standing zoning laws, and convoluted permitting process, it is especially difficult to add the needed housing at an acceptable rate. Overall, this housing crisis has affected middle and lower income households the most as many have been forced to relocate due to rapidly increasing rents.

In an attempt to stimulate housing production state …

China, Europe, And The Pandemic Recession: Beijing’S Investments And Transatlantic Security, John R. Deni, Chris Alden, Erik Brattberg, Roger Cliff, Mark Duckenfield, R. Evan Ellis, Nicholas Nelson, Lauren Speranza

Books, Monographs & Collaborative Studies

Given the depth and breadth of the pandemic-induced recession in Europe, private companies in need of capital and governments looking to shed state-owned enterprises may be tempted to sell shares, assets, or outright ownership to investors with liquidity to spare. Of greatest concern is the role that China might play in Europe, building Beijing’s soft power, weakening allied geopolitical solidarity, and potentially reprising the role it played in the 2010s, when its investments in Europe expanded dramatically. More specifically, there is concern over China’s investments in infrastructure and sensitive technologies relevant to American and allied military operations and capabilities.

Whether …

Employing A Public Policy Evaluative Framework: An Analysis Of Domestic Theme Park Development, Anthony Gray Houser

Honors Theses

The intention of the thesis is to examine the relationship between the development of the Walt Disney Company’s theme parks and public policy. Using the Disneyland Resort in Anaheim, California and the Walt Disney World Resort outside of Orlando, Florida as case studies, this thesis will execute a comparative analysis to better understand the relationship between the Walt Disney Company’s theme parks and public policy. Using an evaluative framework, this thesis will provide a deeper understanding of how public policy affected the development and the current operations of these theme parks. The driving research question in this thesis is, ‘what …

The Nebraska Covid-19 Early Care And Education Provider Survey Iii: “Holding It Together—And Hanging By A Thread” May 2022, Alexandra Daro, Kathleen C. Gallagher, Kristen M. Cunningham

Buffet Early Childhood Institute Reports and Publications

In February 2022, the Buffett Early Childhood Institute conducted the Nebraska COVID-19 Early Care and Education Survey III, in collaboration with state agencies, University of Nebraska faculty, and organization partners. This third survey examined the impact of the COVID-19 pandemic on Nebraska’s child care professionals and its implications for practice and policy. Results from the previous surveys, released in April and August 2020, indicated that early care and education professionals in Nebraska, who were already vulnerable prior to the pandemic, have been negatively impacted from the start of the pandemic. The first survey elevated providers’ immediate needs, including funding relief, …

The Delaware River Basin Compact: A Case Study In Successful Transboundary Water Resource Management, Cindy Gorze Roper

All Dissertations

Worldwide, water resources are undergoing rapid changes emerging from both man-made and natural factors. Increasing demands for water for agriculture, industry, power generation, and domestic use combined with more intense and variable weather patterns are negatively affecting water availability and escalating the potential for conflict between entities sharing these critical resources.

This study examines the Delaware River Basin federal-interstate compact to determine how these agreements provide a means by which several competing states can develop and implement an effective regional governance system. Using a grounded theory case study approach, it uses documents, surveys, and interviews to examine how the Compact …

The One Who Won, Jeanna Polisini

Student Scholar Symposium Abstracts and Posters

I am an adopted Asian American with an Italian last name who was raised in the Jewish faith. While I am one of the lucky ones, the One-Child Policy is responsible for how my life turned out. My intention is to confront the inhumanity of this horrific policy with my adoption story. Until policies personally affect someone’s life, many people do not think twice about the other country’s problems and their repercussions on a global level. For my senior exhibition, I created an autobiographical installation to explore my adoption story and how China’s inhumane dictatorship. The full immersive installation will …

Public Safety Response For Persons With Serious Mental Illness: A Systematic Review Of Literature, Ashley Bailey

LSU Master's Theses

There are 13.1 million adults living with serious mental illness (SMI) in the United States. It is estimated that 356,000 people with SMI are incarcerated in the United States. Many advocates believe that police reform/alternatives to traditional policing could assist in lowering incarceration rates among persons with SMI, and improve outcomes for both the officer and the person with SMI during police contact.

How Reagan’S National Security Decision Directives Can Be Applied Today, Audrey Sightler

Helm's School of Government Conference - 2021-2024

No abstract provided.

A Case Study: Socialism In Venezuela, Victoria Matlock

Helm's School of Government Conference - 2021-2024

No abstract provided.

Informal Governance Of The United States, Edward Lee

Brigham Young University Journal of Public Law

No abstract provided.

The Commonwealth Takes An Important Step In Protecting Our Democracy, Ashish Vaidya

eJournal of Public Affairs

Northern Kentucky University’s President Ashish Vaidya wrote an article celebrating Kentucky’s new bipartisan voting rights bill. Signed into law in April, the legislation is contrary to what we are seeing in other states and expands voting options in Kentucky. As an immigrant to the U.S. from India, President Vaidya has a unique perspective on democracy in America, and he is very passionate about higher education’s role to inform its students on their responsibility.

Korean War Biological Warfare Allegations Against The United States: A Playbook For The Current Crisis In Ukraine, Conrad C. Crane

Articles & Editorials

No abstract provided.