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Analysis and Commentary

Breaking Out Of The Democratic Slump

by Larry Diamondvia Journal of Democracy
Wednesday, January 22, 2020

Since 2006, democracy in the world has been trending downward. A number of liberal democracies are becoming less liberal, and authoritarian regimes are developing more repressive tendencies. Democracies are dying at the hands of elected authoritarian populists who neuter or take over the institutions meant to constrain them. Changes in the international environment, as well as technological developments and growing inequality, have contributed to this democratic slump. 

Analysis and Commentary

The Federal Funds Network And Monetary Policy Transmission: Evidence From The 2007–2009 Financial Crisis

by Daniel O. Beltran, Valentin Bolotnyy, Elizabeth Kleevia Science Direct
Tuesday, December 31, 2019

Using a network approach, we show how the federal funds market was transformed during the financial crisis through the collapse of the ABCP market in 2007, changes in monetary policy implementation, and an increase in counterparty credit risk.

Analysis and Commentary

Asset Prices And Unemployment Fluctuations

by Patrick J. Kehoe, Pierlauro Lopez, Virgiliu Midrigan, Elena Pastorinovia The National Bureau Of Economic Research
Tuesday, December 31, 2019

Recent critiques have demonstrated that existing attempts to account for the unemployment volatility puzzle of search models are inconsistent with the procylicality of the opportunity cost of employment, the cyclicality of wages, and the volatility of risk-free rates. 

Analysis and Commentary

Summer 2019 Supplement For 'Bradley, Deeks, & Goldsmith, Foreign Relations Law: Cases And Materials'

by Jack Goldsmithvia Lawfare
Monday, December 9, 2019

Here is the Summer 2019 Supplement for Bradley, Deeks, & Goldsmith, Foreign Relations Law: Cases and Materials (6th ed. 2017).

Analysis and Commentary

Data Security, Data Breaches, And Compliance

by Chirantan Chatterjee, D. Daniel Sokolvia SSRN
Sunday, November 17, 2019

This chapter explores the attributes of compliance in the context of data breaches. First, it identifies the sort of corporate governance problem that data breaches create. Then, it approaches the empirical work related to data breaches and to the organization of compliance-based responses in terms of risk assessment, training and compliance, both preemptively and after a breach.

Analysis and Commentary

Private Equity Buyouts And Their Effects

by Steven J. Davis, John Haltiwanger, Kyle Handley, Ben Lipsius, Josh Lerner, Javier Mirandavia (Centre for Economic Policy Research)
Tuesday, October 22, 2019

Private equity buyouts arouse intense interest among investors and business owners as well as policymakers and politicians, but the difficulty of assembling the data needed for a systematic evaluation makes assessing their effects hard. This column uses data on thousands of buyouts in the US to examine the effects on employment, job reallocation, productivity, and worker compensation. The findings suggest that the effects differ greatly by type of buyout, with the credit conditions at the time of buyout, and with the post-buyout evolution of credit conditions and the macroeconomy, casting doubt on the efficacy of ‘one-size-fits-all’ policy prescriptions for private equity.

Analysis and Commentary

Policy Uncertainty In Japan

by Elif C. Arbatli, Steven J. Davis, Arata Ito, Naoko Miakevia Becker Friedman Institute for Economics at the University of Chicago
Tuesday, October 15, 2019

In the aftermath of the Financial Crisis (2007-08) and the Great Recession (2007-09), households and firms faced lots of uncertainty, not only about when and how the economy would recover, but also confusion on whether and how the administration, Congress, and the Federal Reserve would react. For families considering the purchase of a new car or a move to another city for a job, and for businesses considering new hires or a plant expansion, this policy uncertainty meant that the prudent choice was often wait-and-see.