Public Policy Commons^™

Lessons Learned: Ray Dalio, Andrew Metrick, Rosalind Z. Wiggins, Kaleb B. Nygaard

Journal of Financial Crises

Insights from a discussion with Ray Dalio, Founder, Chairman, and Co-Chief Investment Officer of Bridgewater Associates, one of the largest hedge funds in the world. Topics range from monetary policy to communications strategy when responding to a financial crisis.

Basel Iii G: Shadow Banking And Project Finance, Christian M. Mcnamara, Andrew Metrick

Journal of Financial Crises

The Net Stable Funding Ratio (NSFR), a liquidity standard introduced by Basel III, seeks to promote a better match between the liquidity of a bank’s assets and the manner in which the bank funds those assets. The NSFR requires banks to maintain a minimum amount of funding deemed “stable” by the Basel framework based on the liquidity of the banks’ assets and activities over a one-year timeframe. One of the areas seen as most affected by this development may be bank participation in project finance for infrastructure development. Since the global demand for infrastructure development remains robust, the shadow banking …

Basel Iii F: Callable Commercial Paper, Christian M. Mcnamara, Rosalind Bennett, Andrew Metrick

Journal of Financial Crises

One of the Basel Committee on Banking Supervision’s responses to the global financial crisis of 2007-09 was to introduce the Liquidity Coverage Ratio (LCR), a short-term measure that evaluates whether a bank has enough liquidity to meet expected cash outflows during a 30-day stress scenario. One area in which this incentive has already resulted in changed practices is in the market for commercial paper. Banks often provide backup liquidity facilities to the issuers of commercial paper that the issuers can draw upon to repay a maturing issue of commercial paper if they are unable to sell a new issue to …

Basel Iii E: Synthetic Financing By Prime Brokers, Christian M. Mcnamara, Andrew Metrick

Journal of Financial Crises

Hedge funds rely on “prime brokerage” units within banks to provide leverage. With the enhanced capital requirements and new liquidity standards introduced by Basel III driving up the cost to banks of engaging in such financing, prime brokers have begun to offer an alternative means of providing hedge fund clients with leveraged exposure to securities. Known as synthetic financing, this alternative requires the prime broker to enter into derivatives contracts with the clients. Under the Basel III framework, the ability of banks to hedge and net such derivative positions results in capital and liquidity costs for synthetic financing that are …

Basel Iii D: Swiss Finish To Basel Iii, Christian M. Mcnamara, Natalia Tente, Andrew Metrick

Journal of Financial Crises

After the Basel Committee on Banking Supervision (BCBS) introduced the Basel III framework in 2010, individual countries confronted the question of how best to implement the framework given their unique circumstances. Switzerland, with a banking industry that is both heavily concentrated and very large relative to the size of its overall economy, faced a special challenge. It ultimately adopted what is sometimes referred to as the “Swiss Finish” to Basel III—enhanced requirements applicable to Switzerland’s “too-big-to-fail” banks Credit Suisse and UBS that go beyond the base requirements established by the BCBS. Yet the prominent role played by relatively new contingent …

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 …

Congressional Committee Resources On Space Policy During The 115th Congress (2017-2018): Providing Context And Insight Into U.S. Government Space Policy, Bert Chapman

Libraries Faculty and Staff Scholarship and Research

Article 1 of the US Constitution assigns the US Congress numerous responsibilities. These include creating new laws, revising existing laws, funding government programs, and conducting oversight of these programs' performance. Oversight of US Government agency space policy programs is executed by various congressional space policy committees, including the House and Senate Science Committees, Armed Services, and Appropriations Committees. These committees conduct many public hearings on space policy which invite witnesses to testify on US space policy programs and feature debate on the strengths and weaknesses of these programs. Documentation produced by these committees is widely available to the public, except …

La Administración Pública Desde La Perspectiva De La Prevención De Atrocidades En Las Respuestas A La Covid-19: Aprovechar La Pandemia Para Lograr Mayor Equidad Social, Nadia Rubaii, Kerry E. Whigham, Susan Appe

Gobernar: The Journal of Latin American Public Policy and Governance

The pandemic is already forcing many individuals, businesses, and governments to rethink much of what they do and how they do it. As such, it presents an opportunity for public administrators to reimagine the criteria they use when designing and implementing programs and policies, and to more actively engage in prevention of identity-based violence. In this contribution, we suggest a new analytical lens to guide public administrators’ decision making, one informed by the theory and practice of mass atrocity prevention. This perspective recognizes that the decisions and actions of public administrators in response to the pandemic will influence whether individual …

Policy Making In The Nevada Legislature: How Interest Groups Make The Difference, Madison Frazee

Student Research

This paper examines the structure of the Nevada legislature and how interest groups influence the policy making process. In particular, this paper aims to answer the questions of how interest groups are able to make a difference in the legislative process and how those groups are able to gain access to the political environment in the state. By understanding how interest groups advocate for certain policies, the best methods to engage citizens in the political process can be understood. By utilizing SB179 as the case study for this analysis, the processes of the legislature can be examined. Through moving to …

Cpaf Updates Vol. 21 No. 1, Mark Jayson E. Gloria, Stella Concepcion R. Britanico, Epharaim C. Quiñones, Stoix Nebin S. Pascua

CPAf Updates

In this issue:

• NS Javier reiterates CPAf’s ‘raison d’être’, 1
• KMO revisits mandate, creates 3-year roadmap, 2
• University Council Approves Proposed MDMG Program Revisions, 3
• CPAf co-hosts 5th Asia Future Conference, 4

Addressing The Need For Climate Information At The Farm Level, Francis John F. Faderogao

CSPPS Policy Brief

No abstract provided.

Administrative Easing: Rule Reduction And Medicaid Enrollment, Ashley Fox, Wenhui Feng, Edmund Stazyk

Public Administration and Policy Faculty Scholarship

Administrative burden is widely recognized as a barrier to program enrollment, denying legal entitlements to many eligible individuals. We examine what effect voluntary state reductions in administrative burden (what we call administrative easing) have had on Medicaid enrollment rates using differential implementation of the Affordable Care Act. Using a novel dataset that includes state-level data on simplified enrollment and renewal procedures for Medicaid from 2008-2017, we examine how change in Medicaid enrollment is conditioned by the adoption of rule-reduction procedures. We find that reductions in the administrative burden required to signup for Medicaid were associated with increased enrollments. Real-time eligibility …

What Can Future Social Worker Do Differently Than Recent Social Workers, Hannah Stavros-Mccauley

English Department: Research for Change - Wicked Problems in Our World

When college students first go into the social work field, they must take Intro to Social Work which introduces the NASW Code of Ethics. The NASW Code of Ethics introduces six core values and these purposes explain what social workers are shooting for when working with clients. The six core values are services, social justice, dignity and worth of the person, importance of human relationships, integrity, and competence. When it comes to service the social workers, the main goal is to help their clients in need. The main goal that social workers focus on social justice is poverty, unemployment, discrimination, …

Online Learning's Impact On Mental Health, Alexandria Palmieri

English Department: Research for Change - Wicked Problems in Our World

Due to the global pandemic education has evolved and started online learning. While online learning is helping it brings its own set of problems and impacts. This paper will talk about 3 aspects of online learning, social interaction, motivation, and participation and how students’ mental health is being impacted. The paper includes a research study done by giving a number of college aged students a survey. The survey asked questions about the 3 aspects of online learning and how each of them impact students’ mental health as well as ways to relieve the stress and lessen the impact of online …

Parallel Precarity: A Comparison Of U.S. And Canadian Agricultural Guest Worker Programs, Anelyse M. Weilere, Kathleen Sexsmith, Laura-Anne Minkoff-Zern

Food Studies - All Scholarship

No abstract provided.

Parental Report Of Outcomes From A Randomized Trial Of In-Home Family Services, Kristin Duppong-Hurley, Matthew Lambert, Irina Patwardhan, Jay L. Ringle, Ronald W. Thompson, Jennifer Farley

University of Nebraska Public Policy Center: Publications

This study conducted a randomized trial to examine the efficacy of the Boys Town In-Home Family Services (IHFS) program for families of high-risk youth. Participants were recruited from a state helpline for families struggling with poor family functioning and child emotional or behavioral issues. Consent was obtained for 300 of which 152 were randomly assigned to participate in IHFS for 3–4 months and 148 were assigned to the services as usual comparison group. For the families in the treatment group, 18% did not participant in the intervention, and 66% of families received 20 or more service hours. Parent report data …

The Wickedness Of Obesity, Justin C. Epps

English Department: Research for Change - Wicked Problems in Our World

“The Wickedness of Obesity” is written by myself, Justin Epps. This study evaluates the problems and causes of obesity. It has taken the lives of all different types of people. Being overweight can also affect what a person can do on a daily basis, as their weight can prevent them from participating in activities. Lab results show typical percentages of obesity among men and women along with other factors. This analysis shows that obesity is a major concern throughout the population within different groups. I conclude that obesity is a large issue in the world today.