John Armour, Colin Mayer, Andrea Polo, 24 March 2016

Following the Global Crisis, regulators around the world have shown a greater commitment to investigating and sanctioning corporate wrongdoers. This column argues that fines are only one (surprisingly small) component of the overall sanctions available to regulators. Reputational sanctions are, for some categories of misconduct, far more potent than direct penalties.

Jason Fletcher, Stephen Ross, 03 November 2013

There is a large and growing literature on peer effects, but much less is known about the role of friendships and social relationships in student outcomes. The best evidence on the mechanisms behind aggregate peer effects suggests an important role for discipline and disruption. Very recent research suggests that friends can also have a substantial effect on student outcomes, and in many cases the effect of friends appears to be independent of aggregate peer effects.

Britta Kuhn, 24 September 2011

Another week, another set of crisis talks over the future of the euro. This column argues that the currency’s problem is one of incentives. It says that interventions since early 2010 have been completely ineffective and that most current proposals to foster budget discipline will fare no better. It calls for new decision-making mechanisms as a matter of urgency.

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