By Sarah Hammer Crypto’s Promise: Redefining Finance from the Ground Up Every trade is a battle for dominance on Wall Street. It was here, starting my career as a derivatives trader in the high-stakes markets for global financial giants, that I saw firsthand the limits of a financial system stressed…Read More
Blog
Antitrust and Digital Finance: The Visa Case
By Giovanna Massarotto In the emerging digital economy, antitrust regulation has come to the forefront. After being declared dead in 2017, antitrust is back on the scene by reviving the trust-busting era. In recent years, multiple antitrust proceedings have been opened against Google, Amazon, Meta, and Apple. The Department of…Read More
2024 IMF-WIFPR Conference
On June 18, 2024, the Wharton Initiative on Financial Policy and Regulation and the International Monetary Fund co-hosted the Conference on Financial and Real Implications of Technologies, AI, and Cyber Risks at the IMF Headquarters in Washington D.C. This conference explored the influence of technological advancements, AI integration, and cyber…Read More IMF-WIFPR Panel: New Technologies and Artificial Intelligence
On June 18, 2024, the Wharton Initiative on Financial Policy and Regulation (WIFPR) co-hosted with the International Monetary Fund (IMF) the IMF-WIFPR Conference on Financial and Real Implications of Technologies, Artificial Intelligence (AI), and Cyber Risks. This is the second annual IMF-WIFPR conference, following up on last year’s Conference on…Read More Gresham’s Law of Plastic
By Sean Vanatta In a 1991 article in the American Economic Review, Lawrence Ausubel posed a question: Why had competition failed in the credit card market? Credit card interest rates had surged in the early 1980s following Fed Chairman Paul Volcker’s dramatic bit to purge inflation, but as market interest…Read More
Rethinking Optimal Deposit Insurance
On Friday, April 19, the Wharton Initiative on Financial Policy and Regulation (WIFPR) co-hosted a conference with Yale’s Tobin Center for Economic Policy on “Rethinking Optimal Deposit Insurance.” The conference was organized by Itay Goldstein, WIFPR director and Joel S. Ehrenkranz Family Professor of Finance at Wharton, and Eduardo Davila,…Read More Research Spotlight: Will ETFs Drive Mutual Funds Extinct?
The WIFPR Blog publishes posts spotlighting research by members of the Wharton community. In this post, Anna Helmke, PhD candidate in Finance, discusses her work on ETFs and mutual funds. By Anna Helmke The rise of passive investing has been nothing short of revolutionary. At the heart of this phenomenon…Read More
Research Spotlight: Instant Payment Systems and Competition for Deposits
The WIFPR Blog publishes posts spotlighting research by members of the Wharton community. In this post, Sergey Sarkisyan, PhD candidate in Finance, discusses his work on instant payments and the competition for deposits. By Sergey Sarkisyan The banking industry is highly concentrated. Despite the fact that there are 4,200 banks…Read More
Basel III Endgame was inevitable for large banks, but what about non-banks and smaller banks?
Note: this post is part of our series on Basel III Endgame, which features contributions from participants at our Basel III Endgame roundtable. You can find other posts in the series here. By Viral V Acharya “Basel III Endgame” is a set of rules proposed by the US regulatory authorities,…Read More
Crypto, Digital Currency, and Interoperability Roundtable
September 18, 2023 This post summarizes key takeaways from a September roundtable on digital currencies. Chair Sarah Hammer, Executive Director at the Wharton School and Adjunct Professor at the University of Pennsylvania Law School Speakers Sopnendu Mohanty, Chief Fintech Officer, Monetary Authority of Singapore Tara Rice, Head of Secretariat, Committee…Read More