Since the formulation of the Miller and Modigliani propositions over 60 years ago, financial economists have been debating …
Risk
Corporate Insurance Strategy: The Case of British Petroleum
The authors provide a fundamental rethinking of how corporations should evaluate various kinds of risks and risk management …
Risk and Regulation in Derivatives (or Why Derivatives Are a...
In this article, first published in 1994, the authors aimed to defuse the widespread hysteria about derivatives fueled …
University of Georgia Roundtable on Enterprise-Wide Risk Management
For many years, MBA students were taught that there was no good reason for companies that hedge large …
Will Blockchain Be a Big Deal? Reasons for Caution
The initial enthusiasm for implementing blockchain in financial markets has been dampened considerably by its collision with economic …
Monetary Policy Implementation: Making Better and More Consistent Use of...
Since December 2015, the Federal Reserve has operated a new “floor system” in which it brings about desired …
The Strange and Futile World of Trade Wars
U.S. President Donald Trump has a misguided, mercantilist view of international trade. He believes that an external (or …
The Fed’s Communications: Suggestions for Improvement
The chief economist of Berenberg Capital Markets proposes three broad ways of improving the Fed’s communications: (1) establish …
The Great Crash of 1929: A Look Back After 90...
The Great Crash of 1929 ranks among the climactic events of the last century, apparently heralding the beginning …
How to Promote Fed Independence: Perspectives from Political Economy and...
In two short histories of the independence of the U.S. Federal Reserve Bank since its creation in 1913—the …