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Daily Archives: August 13, 2013

Sovereign Default Risk and Banks in a Monetary Union

Sovereign Default Risk and Banks in a Monetary Union, Harald Uhlig, University of Chicago – Department of Economics. August 12, 2013 Becker Friedman Institute for Research in Economics Working Paper No. 2013-002

This paper seeks to understand the interplay between banks, bank regulation, sovereign default risk and central bank guarantees in a monetary union. I assume that banks can use sovereign bonds for repurchase agreements with a common central bank, and that their sovereign partially backs up any losses, should the banks not be able to repurchase the bonds. I argue that regulators in risky countries have an incentive to allow their banks to hold home risky bonds and risk defaults, while regulators in other “safe” countries will impose tighter regulation. As a result, governments in risky countries get to borrow more cheaply, effectively shifting the risk of some of the potential sovereign default losses on the common central bank.”

Intergenerational Justice in Aging Societies

Vanhuysse, Pieter, Intergenerational Justice in Aging Societies: A Cross-National Comparison of 29 OECD Countries (April 20, 2013). Available at SSRN “I present the Intergenerational Justice Index (IJI) – a simple four-dimensional indicator developed with the Bertelsmann Stiftung in order to compare intergenerational justice in practice across 29 OECD member states. The unit of analysis isContinue Reading

New on LLRX – Rebooting Legal Research in a Digital Age

Via LLRX.com – Rebooting Legal Research in a Digital Age: Steven A. Lastres writes that research has always been core to the practice of law. However, the results of a recent survey Steven has authored identified a “New Normal” in today’s business climate that has a profound effect in the delivery of legal services andContinue Reading

New on LLRX – Student Research Resources on the Internet

Via LLRX.com – Student Research Resources on the Internet: Marcus P. Zillman’s new guide is a comprehensive pathfinder that identifies reliable, actionable and high value research resources and sources on the Internet that will provide students with key benchmarks for their studies.

New on LLRX – A User Guide to the Marrakesh Treaty

Via LLRX.com – A User Guide to the Marrakesh Treaty: Jonathan Band provides a comprehensive guide to the recent international adoption of the “Marrakesh Treaty to Facilitate Access to Published Works for Persons Who Are Blind, Visually Impaired, or Otherwise Print Disabled.” The Treaty is intended to promote the making and distribution of copies ofContinue Reading

Effects of Budget Cuts on Federal Statistics Program

Debt, Damned Debt, and Statistics: The Effects of Budget Cuts on Federal Statistics Program Dan Coyle, ProQuest. June 2013 Statistical Programs Affected by Sequestration: Census Bureau, BLS, USDA

The Agenda for Generational Equity: The Framework

“The Agenda for Generational Equity is a conversation starter. We cannot afford to have young Americans —“Millennials”— on the sidelines for critical debates about our nation’s future. Though no exact definition exists, we, the Millennials, are the generation of young Americans born between the early 1980s and early 2000s. We are the generation that cameContinue Reading

Too Big to Fail: The Path to a Solution

Too Big to Fail: The Path to a Solution – A Report of the Failure Resolution Task Force of  the Financial Regulatory Reform Initiative of the Bipartisan Policy Center, May 2013 “This report concludes that the FDIC’s SPOE [single-point-of- entry] recapitalization strategy, whether carried out under OLA or the Bankruptcy Code, should succeed in solving a criticalContinue Reading

The 2010 Deepwater Horizon Oil Spill: Natural Resource Damage Assessment Under the Oil Pollution Act

CRS – The 2010 Deepwater Horizon Oil Spill:  Natural Resource Damage Assessment Under the Oil Pollution Act. Adam Vann, Legislative Attorney; Robert Meltz, Legislative Attorney. July 24, 2013 “The estimated 4.1 million barrels of oil released during the 2010 Deepwater Horizon oil spill is considered to be the largest accidental marine oil spill in the history of the petroleum industryContinue Reading

Overview of Federal Criminal Cases Fiscal Year 2012

United States Sentencing Commission – Glenn R. Schmitt, Jennifer Dukes – Office of Research and Data. “This publication presents a broad overview of federal sentencing data for fiscal year 2012. It provides a brief, easy-to-use reference on the types of criminal cases handled by federal courts and the punishments imposed on offenders convicted in those cases. (July 2013)” “TheContinue Reading