Argentina's Crisis " Kurt Schuler sets out a programme of reforms which are designed to restore confidence in Argentina's economy. These include dollarization, reforming the financial system, and tax reductions. "Fixing Argentina" is published by the Cato Institute.
By Cato Institute , US.
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Privatizing Banking Regulation " Bert Ely argues for the privatization of prudential banking regulation. The present system whereby some banks are, in effect, deemed to big to fail has a strong moral hazard element - whereby banks are encouraged to take more risks because of this implicit guarantee. He proposes a system of cross-guarantee deposit insurance. Under this system an individual bank would negotiate a prudential regulatory contract with a syndicate of of guarantors - largely other banks. The syndicate would guarantee against loss of bank deposits. In return the syndicate would receive a negotiated risk-sensitive insurance premium.
By Bert Ely , US