The subsidized emergency takeover of Credit Suisse by UBS brings the current global "too big to fail" regime into question. This column argues that an in-depth analysis of the global resolution framework by both regulators and academics is needed. The main question is whether a resolution of a global systemically important bank is indeed feasible in plausible scenarios. An affirmation would clearly be the best possible result of this analysis. However, if such a resolution proves not to be realistic, then there should be no hesitation to drastically reduce the global risks of such institutions via regulation of their business models.
The implementation of central bank digital currencies as the primary medium of exchange would exacerbate the flaws of our current fiat system which encourage banks to overextend credit and create liabilities that they cannot redeem. This will worsen the already recurring cycles of financial crises, writes Vibhu Vikramaditya.
A pervasive "Whig" view of United States antitrust history among scholars and practitioners celebrates the Merger Guidelines' implementation of increasingly sophisticated economic methods since their...
While the development of artificial intelligence has led to efficient business strategies, such as dynamic pricing, this new technology is vulnerable to collusion and consumer harm when companies share the same software through a central platform. Gabriele Bortolotti highlights the importance of antitrust enforcement in this domain for the second article in our series, using as a case study the RealPage class action lawsuit in the Seattle housing market.
In response to both Herb Hovenkamp’s February 27 article in ProMarket and, perhaps more importantly, also to Hovenkamp’s highly regarded treatise, Lawrence B. Landman, first, shows that the Future Markets Model explains the court’s decision in Meta/Within. Since Meta was not even trying to make a future product, the court correctly found that Meta would not enter the Future Market. Second, the Future Markets Model is the analytical tool which Hovenkamp says the enforcers lack when they try to protect competition to innovate.
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