The Federal Reserve The Weakest Lender of Last Resort Among Its Peers (2015)

2015 | Research

Download As PDF Abstract This article for the first time compares the Federal Reserve’s powers as lender of last resort (‘LLR’) and its ability to fight contagion, with its three major peers, the Bank of England (the ‘BOE’), the European Central Bank (the ‘ECB’) and the...

The Importance of the Retail Payment System (2014)

2014 | Research

Download As PDF Abstract This article explores the importance of an efficient retail payment system and develops an integrated framework for evaluation of the retail payment system by policy makers. It examines the costs and benefits of the various types of retail...

Stockholder Adoption of Mandatory Individual Arbitration For Stockholder Disputes (2013)

2013 | Research

Download As PDF Part I of this Article discusses in detail the shortcomings of the modern class action system, including its uncertain benefits (in terms of compensation and deterrence) as well as its indisputable high costs. Part II then presents the benefits of the...

When the Euro Falls Apart- A Sequel (2012)

2012 | Hal Scott

Download As PDF Harvard Law School Public Law & Legal Theory Working Paper SeriesPaper No....

Reducing Systemic Risk Through the Reform of Capital Regulation (2010)

2010 | Hal Scott

Download As PDF Capital requirements are a key element in containing systemic risk. This article argues that the market needs to play a more significant role in determining these requirements. The Basel process has a bad track record and there are inherent...