Macro-prudential policy is concerned with mitigating system wide risks arising from negative externalities from monetary and financial activities. The need to design a Pigou tax to control systemic risk from financial intermediaries (FIs) has come to the forefront after extensive tax payer bail outs in the aftermath of the 2007 financial crisis. Holistic visualization of the financial system us...

This paper shows that bonus contracts may arise endogenously as a response to agency problems within banks, and analyzes how compensation schemes change in reaction to anticipated bail-outs. If there is a risk-shifting problem, bail-out expectations lead to steeper bonus schemes and even more risk-taking. If there is an effort problem, the compensation scheme becomes flatter and effort decrease...

We study the interaction between government's bailout policy and a bank's willingness to impose losses on (or “bail in”) investors based its private information. In absence of regulation, bail-ins in early stages crisis are too small, while bailouts large frequent. Moreover, bank may face run by informed investors, creating further distortions leading larger bailout. show how regulator with lim...

The United States’ response to COVID-19 has been predominantly led by state governments. To understand if, why, and how governments include enforcement language in their executive order response, this article conducts an analysis based on 1,357 coded orders. It is found that decisions are influenced a governor’s political circumstances perceived risks associated with the crisis. This paper offe...

357 June 2013, Vol. 103, No. 6 SAMJ Rape in South Africa To the Editor: Dr Naidoo is to be commended for reminding readers of the scourge that is rape.[1] However, he has overlooked the main reason for the abysmally low conviction rate. In many, if not most, allegations of rape there is no witness, and no material evidence. He says that consent was given; she denies it. The magistrate has the u...

Iatrogenic aortocoronary dissection is a rare but potentially disastrous complication of percutaneous coronary intervention. The left main dissection extending into distal bifurcation involving both the left anterior descending and left circumflex is a complex and vital complication, which is classified as Eshtehardi Type II dissection. We presented a case of iatrogenic left main coronary arter...

This dissertation presents work empirically investigating various aspects of the criminal justice system. Chapter one, coauthored with Chris Rohlfs, examines the judicial bail-setting process and the defendant decision to pay bail. Optimal bail-setting rules must balance the tradeoffs between costs to defendants and costs to society. This chapter develops a model of optimal bail that incorporat...

My research assesses the impact of changes to legally-aided representation in magistrates’ courts operating in East Kent (a designated court area) in the context of structural change driven by neoliberal forms of governance. This paper presents some findings following periods of observation at the relevant court area. Past socio-legal studies of magistrates’ courts, largely conducted when most ...