Now showing items 1-6 of 6
Safety First: The Deceptive Allure of Full Reserve Banking
(University of Chicago Law Review Online, 2016)
In Safe Banking, Professor Adam Levitin joins a venerable tradition in the money and banking literature. That tradition, called full reserve banking, has claimed a number of illustrious supporters over the years, including ...
A Simpler Approach to Finance Reform
There is a growing consensus that new financial reform legislation may be in order. The Dodd-Frank Act of 2010, while well-intended, is now widely viewed to be at best insufficient, at worst a costly misfire. Members of ...
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 ...
Foreward to Revisiting the Public Utility
(Yale Journal on Regulation, 2018)
This foreword introduces "Revisiting the Public Utility," a series of essays published in a special issue of Yale Journal on Regulation. We cluster the contributions to this issue around public utility regulation’s core ...
Money as Infrastructure
Traditional infrastructure regulation—the law of regulated industries—rests atop three pillars: rate regulation, entry restriction, and universal service. This mode of regulation has typically been applied to providers of ...
Regulating Money Creation After the Crisis
(Harvard Business Law Review, 2011)
Like bank deposits, money market instruments function in important ways as "money." Yet our financial regulatory regime does not take this proposition seriously. The (non-government) issuers of money market instruments-almost ...