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The Use of Economic Analysis in Predatory Lending Cases: Application to Subprime Loans
Lawsuits alleging predatory lending have been on the rise since the mid-1990s, with a sharp surge in filings in 2008. In this paper, NERA Senior Vice President Dr. Denise Martin, Senior Consultant Dr. Stephanie Plancich, and Vice President Dr. Faten Sabry review the definition of predatory lending and describe the recent litigation history. The authors then examine alleged discriminatory lending in detail, reviewing key economic theory and evidence, as well as relevant statistical techniques.
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The Role of Fixed Cost Savings in Merger Analysis
In this article from the Journal of Competition Law and Economics, NERA Vice President Dr. Robert Rubinovitz has developed a model that shows how, when the fixed cost of producing quality decreases, consumer welfare can increase, clearly demonstrating why fixed cost savings should be given more weight in merger analysis.
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Business Restructurings: The OECD Discussion Draft and the New German Business Migration Legislation
At this NERA seminar, to be held in Barcelona on 4 December 2008, Special Consultants Pim Fris and Victoria Alonso Cantero will provide an introduction to business restructurings and discuss what they may involve, such as the cross-border redeployment of functions, risks and assets between associated enterprises, and the effects on the profits and loss potential in each country. In addition, Special Consultant Dr. Alexander Voegele will introduce the new German Business Migration legislation, the relevance of which will be emphasized by its anticipated retroactive application.
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SEC Settlements: A New Era Post-SOX
Securities and Exchange Commission (SEC) enforcement action settlements are projected to reach a three-year high in 2008, continuing a dynamic period of SEC enforcement since the enactment of Sarbanes-Oxley (SOX) in 2002, according to a new NERA study. Authored by Consultant Jan Larsen, Senior Vice President Dr. Elaine Buckberg, and Special Consultant Dr. Baruch Lev, the study provides an overview of trends NERA has identified in the number of settlements and settlement values in the six years since the passage of SOX.
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NERA Brief: New Playbook for a Financial Crisis
The government and Federal Reserve have continued to write policy at an unprecedented rate since our 26 September and 10 October briefs on the Paulson Plan and the Emergency Economic Stabilization Act of 2008. Our new brief, Economists' Views: New Playbook for a Financial Crisis, edited by Dr. Elaine Buckberg and Dr. Ronald I. Miller, describes the extraordinary sequence of policy developments from the Federal Reserve, US Treasury, Federal Deposit Insurance Corporation, and central banks abroad.
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