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Conference Paper
Offshore financial regulatory competition: a force for modernization and for crisis
How policymakers frame an economic problem inevitably restricts the range of policy solutions they entertain. It is important to prevent restrictions on the range of policy options being explored from undermining the quality of policy performance. This implies that outside economists should challenge misframing whenever they see it. ; This paper contends that, at least in the financial press, policymakers and some economists are misframing two related problems in financial regulation. The first concerns the nature of the process by which financial modernization spreads from country to ...
Conference Paper
Valuing conjectural government guarantees of FNMA liabilities
Conference Paper
Dangers of a bifurcating bank system
Conference Paper
Foundations of financial regulation
Conference Paper
How much did capital forbearance add to the tab for FSLIC mess?