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Regulation of Payday Loans
(Washington & Lee Law Review, 2012)
Since payday lenders came on the scene in 1990s, regulation of
their ')redatory" practices has been swift and often severe. Fourteen
states now ban payday loans outright. From an economist's
perspective, high-interest, ...
Money and (Shadow) Banking: A Thought Experiment
(Review of Banking & Financial Law, 2012)
This paper approaches the shadow banking problem from a monetary point of view. It does so by means of a simple thought experiment. The aim is to strip away the inessentials so as to reveal some of the basic legal-institutional ...