Presentations at the Canadian Law and Economics Association annual meeting on September 28, 2013 in Toronto. Dynamic Regulation of the Financial Services Industry Wulf A. Kaal University of St. Thomas, Minnesota – School of Law 2013 Wake Forest Law Review, 2014, Forthcoming U of St. Thomas (Minnesota) Legal Studies Research Paper No. 13-24 Abstract: Governance adjustments […]Read more "Presenting on “Dynamic Regulation” at Canadian Law & Economics Association in Toronto"
Despite the role of collateralized debt obligations (CDOs) in the financial crisis of 2007-08, CDOs and other high risk investment products may soon be available again and are likely to proliferate. The WSJ reports that J.P. Morgan Chase and Morgan Stanley bankers are assembling synthetic CDOs to satisfy demand for structured products by investors who seek high […]Read more "The Return of CDOs – Do We Need Dynamic Elements in Financial Regulation?"
The literature on New Institutional Economics (NIE) evaluates the relationship between public and private rulemaking in the evolution of law. This paper introduces the concept of dynamic regulation as an optimization process for the learning experience in the NIE framework. Dynamic regulation describes intra- and inter-jurisdictional feedback effects between different public rulemakers and between private […]Read more "Evolution of Law: Dynamic Regulation in a New Institutional Economics Framework"