Indiana University Maurer School of Law Legal Studies Research Paper Series最新文献

{"title":"Graying of U.S. Bankruptcy: Fallout from Life in a Risk Society","authors":"D. Thorne, Pamela Foohey, Robert M. Lawless, Katherine M. Porter","doi":"10.1111/SOIN.12323","DOIUrl":"https://doi.org/10.1111/SOIN.12323","url":null,"abstract":"The social safety net for older Americans has been shrinking for the past couple decades. The risks associated with aging, reduced income, and increased healthcare costs, have been off-loaded onto older individuals. At the same time, older Americans are increasingly likely to file consumer bankruptcy, and their representation among those in bankruptcy has never been higher. Using data from the Consumer Bankruptcy Project, we find more than a two-fold increase in the rate at which older Americans (age 65 and over) file for bankruptcy and an almost five-fold increase in the percentage of older persons in the U.S. bankruptcy system. The magnitude of growth in older Americans in bankruptcy is so large that the broader trend of an aging U.S. population can explain only a small portion of the effect. In our data, older Americans report they are struggling with increased financial risks, namely inadequate income and unmanageable costs of healthcare, as they try to deal with reductions to their social safety net. As a result of these increased financial burdens, the median senior bankruptcy filer enters bankruptcy with negative wealth of $17,390 as compared to more than $250,000 for their non-bankrupt peers. For an increasing number of older Americans, their golden years are fraught with economic risks, the result of which is often bankruptcy.","PeriodicalId":211350,"journal":{"name":"Indiana University Maurer School of Law Legal Studies Research Paper Series","volume":"33 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-08-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116521753","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Benchmark Regulation","authors":"G. Fletcher","doi":"10.2139/ssrn.2776731","DOIUrl":"https://doi.org/10.2139/ssrn.2776731","url":null,"abstract":"Benchmarks are metrics that are deeply embedded in the financial markets. They are essential to the efficient functioning of the markets and are used in a wide variety of ways—from pricing oil to setting interest rates for consumer lending to valuing complex financial instruments. In recent years, benchmarks have also been at the epicenter of numerous, multi-year market manipulation scandals. Oil traders, for example, deliberately execute trades to drive benchmarks lower artificially, allowing the traders to capitalize on the manipulated benchmarks. This ensures that later trades relying on the benchmarks will be more profitable than they otherwise would have been. Such manipulative practices have far-reaching and, in some instances, destabilizing effects on the financial markets. In responding to these benchmark manipulation scandals, regulators have relied on the existing anti-manipulation framework, which is based solely on ex post prosecution of wrongdoers. The current framework treats benchmark manipulation as just another form of market manipulation. But, as more benchmark manipulation schemes come to light, they cast doubt on the effectiveness of this traditional approach to curbing a modern-day form of manipulation. This Article provides the first in-depth analysis of the differences between benchmark manipulation and traditional forms of market manipulation. This analysis demonstrates that regulators cannot adequately address benchmark manipulation through ex post enforcement actions alone. In failing to recognize how benchmark manipulation differs from traditional manipulation, regulators miss a prime opportunity to oversee a key facet of the financial markets and safeguard market integrity. By focusing on the unique attributes of benchmarks that make them susceptible to manipulation, this Article puts forward a comprehensive prescriptive regulatory framework aimed at detecting and minimizing benchmark manipulation, rather than merely punishing wrongdoers after the fact.","PeriodicalId":211350,"journal":{"name":"Indiana University Maurer School of Law Legal Studies Research Paper Series","volume":"25 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-05-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125455065","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Learning from Lin: Lessons and Cautions from the Natural Commons for the Knowledge Commons","authors":"D. Cole","doi":"10.2139/ssrn.2474492","DOIUrl":"https://doi.org/10.2139/ssrn.2474492","url":null,"abstract":"Intellectual Property (IP) scholars increasingly are turning to the works and analytical frameworks of Elinor (\"Lin\") Ostrom in an effort to determine the best property/regulatory regime(s) for governing various kinds of information in different contexts. This paper serves as a general introduction to Lin's Institutional Analysis & Development (IAD) framework, with special attention to IP applications. The paper also contains a couple of important cautions for IP scholars seeking to use the IAD framework. First, the framework is not very useful for normative purposes (determining what the legal rules should be), but is more for diagnostic, and sometimes predictive, purposes. Second, applying the framework to information is very different from applying it to natural common-pool resources (CPRs). In natural CPRs, open-access is usually the problem to be resolved through collective-action. With respect to information, by contrast, many scholars consider open-access a viable and desirable solution to the problem of insufficient access.","PeriodicalId":211350,"journal":{"name":"Indiana University Maurer School of Law Legal Studies Research Paper Series","volume":"37 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2014-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133911550","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Study of Economic Crimes in India with Special Emphasis on Financial Market Crimes and Control Measures","authors":"S. Agha","doi":"10.2139/SSRN.2340506","DOIUrl":"https://doi.org/10.2139/SSRN.2340506","url":null,"abstract":"Crimes in whatever form or category they may fall in, impact mankind in multifarious ways. They damage democratic development, skew social development, inhibit industrial development and endanger economic development. Overall crime is the antithesis of development and is strongly pitted against it. Development is an innate urge nurtured by nations. Economic development, a prerequisite for development of any other kind, and development is also intrinsically linked to mutual and international cooperation.The United Nations Declaration and the Programme of Action on the Establishment of a New International Economic Order (1974) aims at the creation of better conditions so that all peoples may attain a decent life. It then proceeds to define new guiding principles for the future course of crime prevention and criminal justice in the context of development needs and the goals of an International Development Strategy for the third U.N. Development Decade. This would appear as a collective global response towards development, the key element being economic development.Countries, without exception, have been spurred into economic activities in the recent decades, with the objective of ensuring improved quality of living for their citizens. The 'haves' sharing with the 'have nots' through monetary and material aids became a norm, serving mutual interests equally. As if to add conviction to the trite saying that 'good and evil go together' is the emergence of new forms of crime, more sophisticated at exploiting loopholes and opportunities. These are characterized as economic crimes, growingly becoming the order of the day, robbing the masses of the assurances of the State.The global march from the industrial age to the economic age is confronted principally by the growth of crime that impedes progress towards an egalitarian society. The disruptive effects of crime, particularly economic crime, that makes mankind collective victims, can not be checkmated unless countries stand united. The effective countermeasures against economic crime need, therefore, to be on a firm foundation of international cooperation.","PeriodicalId":211350,"journal":{"name":"Indiana University Maurer School of Law Legal Studies Research Paper Series","volume":"15 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2013-10-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122230727","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Adjudicating Cultural Pluralism, Legislating Cultural Pluralism","authors":"Ilana Gershon","doi":"10.2139/ssrn.1079347","DOIUrl":"https://doi.org/10.2139/ssrn.1079347","url":null,"abstract":"This article addresses the following question: what insights can the literature on legal pluralism and cultural pluralism written by ethnographers of courts provide analysts interested in studying legislatures? The ethnographic insights developed by anthropologists of courts can not be imported into the study of legislatures wholesale. In this article, I explore the ways analyses of cultural pluralism shift when one changes institutional vantage points from courts to legislatures. I argue that three central analytical shifts occur. First, in courts, contexts are often made cultural as one technique among many to create a suitable interpretation that will lead to resolution. From a legislative perspective, contexts are often made cultural using a demographic imagination, that is, through a form of quantification. Second, in courts, only outsiders tend to embody culture, contributing to a historical account of what culture is. In legislatures, anyone, even representatives themselves, can be cultural, making being cultural into a political tactic centered on rendering historical and social connections visible. Third, in legislatures, law is always a compromise. As law travels out of legislatures and into courts, the agonism at the heart of law is forgotten, and law becomes a contextual.","PeriodicalId":211350,"journal":{"name":"Indiana University Maurer School of Law Legal Studies Research Paper Series","volume":"42 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2007-12-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129495060","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Visualizing the Topic Space of the United States Supreme Court","authors":"Peter A. Hook","doi":"10.2139/SSRN.948759","DOIUrl":"https://doi.org/10.2139/SSRN.948759","url":null,"abstract":"This article describes the creation of several domain maps based on the topic space of opinions issued by the United States Supreme Court. Topics assigned by West Publishing were harvested off of the Westlaw database and visualized using Principal Components Analysis (PCA), Multidimensional Scaling (MDS), and graph visualization software (Pajek). Peculiar topic adjacencies were noted and attributed to the unique nature of cases argued at the level of the United States Supreme Court. The work is contextualized throughout by the author's desire to create a rigorous base map on which to layer additional data for teaching purposes.","PeriodicalId":211350,"journal":{"name":"Indiana University Maurer School of Law Legal Studies Research Paper Series","volume":"16 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2007-06-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132281976","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Measuring Outcomes: Post-Graduation Measures of Success in the U.S. News & World Report Law School Rankings","authors":"Andrew P. Morriss, W. Henderson","doi":"10.2139/ssrn.954604","DOIUrl":"https://doi.org/10.2139/ssrn.954604","url":null,"abstract":"The U.S. News & World Report annual rankings play a key role in ordering the market for legal education, and, by extension, the market for entry level lawyers. This Article explores the impact and evolution of placement and post-graduation data, which are important input variables that comprise 20 percent of the total rankings methodology. In general, we observe clear evidence that law schools are seeking to maximize each placement and post-graduation input variable. During the 1997 to 2006 time period, law schools in all four tiers posted large average gains in employment rates upon graduation and nine months, which appear to result from a combination of competition and gaming strategies. In addition, Law schools in tiers 2, 3, and 4 have increased 1L academic attrition, which may be an attempt to increase the U.S. News bar passage score. We also use multivariate regression analysis to model the employed at graduation and employed at nine months input variables. We find that the following factors are associated with higher employed at graduation rates: (1) higher 25th percentile LSAT scores, (2) more on-campus interviews (OCI), (3) higher percentage of part-time students, (4) location outside a Top 10 corporate law market, and (5) status as a historically black law school. All of these factors except LSAT and OCI activity vanish when examining the employed at 9 months data. The U.S. News Lawyer/Judge reputation score is associated with higher employment at nine months. Further research on the Lawyer/Judge survey instrument is needed.After presenting our empirical results, we critique the specific measures of post-graduation success used in the U.S. News rankings and explain how each can be improved. We conclude that the best solution to law schools' complaints about the impact of U.S. News rankings is greater data availability and transparency, particularly on post-graduation outcomes and other factors affecting students' eventual employment prospects.","PeriodicalId":211350,"journal":{"name":"Indiana University Maurer School of Law Legal Studies Research Paper Series","volume":"32 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2007-01-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115234923","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The California Tax on Extreme Wealth (ACA 8 & AB 310): Revenue, Economic, and Constitutional Analysis","authors":"Brian Galle, D. Gamage, Emmanuel Saez, Darien Shanske","doi":"10.2139/ssrn.3924524","DOIUrl":"https://doi.org/10.2139/ssrn.3924524","url":null,"abstract":"This white paper report provides Revenue, Economic, and Constitutional Analysis of the proposed California Tax on Extreme Wealth (ACA 8 & AB 310) and also a Plain-English Summary Outline of its major provisions.","PeriodicalId":211350,"journal":{"name":"Indiana University Maurer School of Law Legal Studies Research Paper Series","volume":"21 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129988597","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"'Gatekeepers' Are Vital Participants in Anti-Money-Laundering Laws and Enforcement Regimes As Permission-less Blockchain-Based Transactions Pose Challenges to Current Means to 'Follow the Money'","authors":"S. Hughes","doi":"10.2139/SSRN.3436098","DOIUrl":"https://doi.org/10.2139/SSRN.3436098","url":null,"abstract":"Two phenomena dominate reports about blockchain-based transactions—that they will disrupt and displace legacy banking, securities, and trade intermediaries, and that they present new or greater opportunities for hiding proceeds of crimes or corruption. This essay does not deal with the former topic. Rather, the organizers of the symposium at George Mason University’s Antonin Scalia School of Law asks me to consider the latter question. It proved to be a tough assignment. \u0000 \u0000This essay looks at the separate questions of (1) the degree to which permission-less blockchain transactions will disrupt current anti-money laundering (AML) regimes and enforcement efforts, and (2) what efforts governments that have agreed to pursue goals of deterrence and detection of money laundering may need to initiate as blockchain-based transactions become more common. \u0000 \u0000My thought process has moved through stages and, finally, has focused on three silos of potential concerns about blockchain technologies. In the first silo are blockchain technologies as technologies. I assign to this first silo the lowest level of concerns because of their potential for inclusion, security and integrity. I do not favor regulating technologies; such regulation will be outdated too fast. \u0000 \u0000The second silo contains cryptocurrencies and other crypto-assets or products and services related to them that are offered in compliance with applicable domestic laws where the user of the product or services is domiciled. I assign a low-to-low-middle level of concern to these crypto assets but recognize and discuss below that this “grade” could change. \u0000 \u0000In the third silo, I have bad actors whose products and services are designed for illicit purposes, and opportunists that offer products and services they do not have and that have no intention of delivering products or services or allowing redemption of value delivered to them. This third silo gets a big red flag from me – and this silo will require continued attention from domestic and global law enforcement agencies. \u0000 \u0000Part of the reason that I see a low or low-to-low-middle level of concern for the first two silos is that, for the immediate future at least, that traditional financial services “gatekeepers” in payments, securities, and commodities will continue to play vital roles in deterring and detecting money laundering and terrorism finance efforts here and abroad. The presence of regulated “gatekeepers” may not forestall the need for new legal requirements or enforcement systems forever, but their presence in the marketplaces of today reduce the need for immediate action and allow legislatures and regulators more time to observe crypto innovations and determine their next steps. \u0000 \u0000As a subset of the third silo, for the time being at least, are the new brands of government-backed cryptocurrencies, such as the Petro from Venezuela and those that Russia, China, and other governments, and the special challenges they may pose to AML legal r","PeriodicalId":211350,"journal":{"name":"Indiana University Maurer School of Law Legal Studies Research Paper Series","volume":"48 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123984203","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}