The current model of press regulation in the UK has failed. Journalism ethics in future needs to be enforced by a more robust organisation with support from a wider group of stakeholders. Where the old system had strengths they must be built upon and lessons learned from the experience of the...

The Leveson Inquiry should recommend use of a broad range of policy instruments to regulate media power and pluralism: not just press self-regulation but also those that deal with the root cause of media capture of politicians: media ownership and concentration There is no infallible policy...

Damian Tambini suggests that journalistic privileges should be given to bloggers and citizen reporters who fulfil a public interest role. But he questions whether ‘journalists’ who seek merely to serve investors – rather than the wider public interest – should not be deserving of such...

In order to understand why so little media attention was paid to risks in the banking sector in the run up to the financial crisis, we need to understand the framework of law, regulation, self-regulation and professional incentives that structure the practice of financial and business...

We estimate the extent to which idiosyncratic and disaggregate macro shocks (such as regional and industry shocks) are not shared in the economy. Comparing the degree to which idiosyncratic and disaggregate macro shocks are not shared grants a deeper understanding as to why the economy lacks in...

This paper looks at the advantages and disadvantages of mixing banking and commerce, using the "liquidity" approach to financial intermediation. Adding a commercial firm makes it easier for a bank to dispose of assets seized in a loan default. This 'internal market' increases the liquidity of...