Purpose – The purpose of this paper is to evaluate recent financial system reforms in the USA by placing them in the context of major structural trends currently underway in the markets, due to technology and globalization of trading. Design/methodology/approach – The paper describes trends...

Access to life insurance is subject to health discrimination. Whether this discrimination should take into account the results of predictive genetic tests is a topic of public debate. This paper draws from the deliberations of the Edinburgh (Scotland) Citizens' Jury on Genetic Test Results and...

This paper examines the role of co-operative self-regulation, or co-management, in safety and environmental regulation in the shipping industry. The focus is on Protection and Indemnity (P&I) Clubs in which third-party liabilities of 90% of the world's fleet (by tonnage) are insured. In theory,...

Do professional forecasters provide their true unbiased estimates, or do they behave strategically? In our model, forecasters have common information, confer actively, and thus know the true pdf of future outcomes. Intensive users of economic forecasts monitor forecasters' performance closely;...

Bennett P. (2006) Competing for the island lifeline: European law, state aid and regional public services, Regional Studies 40, 953-966. Ensuring the freedom to provide services in Europe often means that state subsidies for loss-making, but essential, services are subject to competitive...

In this paper, we use methods from social network analysis to assess the relative importance of financial centers around the world. Using data from virtually the entire universe of global equity activity, we present complete rankings for 45 separate locations for the period 1990–2006. Our...

A large fraction of the companies that went private between 1990 and 2007 were fairly young public firms, often with the same management team making the crucial restructuring decisions at both the time of the initial public offering (IPO) and the buyout. This article investigates the...

Differences between large and small banks' net purchase behavior in the (uncollaterized) federal funds and (collateralized) repurchase agreements markets are documented. The larger a bank's asset size, the larger, ceteris paribus, its Federal Funds purchases. The threshold-asset size is in the...