Financial Markets
Highly and preemptively regulated, financial markets are a sector of the economy where new firms and their products can find it hard to gain a foothold. It’s also one where politicians, regulators, and financial institutions increasingly use their power to change the behavior of individuals and businesses outside the democratic process. Mercatus research shows how to keep the sector competitive and innovative, focused on finance and not on social causes.
Featured
Latest work in Financial Markets
- | Financial Markets Financial Markets
- | Policy Briefs Policy Briefs
POLICY SPOTLIGHT | Fiscal Dominance—What It Is and How It Threatens Inflation Control
- | Financial Markets Financial Markets
- | Expert Commentary Expert Commentary
The Unholy Trinity | FinRegRag’s “FinRegRant”
- | Financial Markets Financial Markets
- | Radio Appearance Radio Appearance
FinRegRant Episode 3: The Unholy Trinity | FinRegRag
- | Financial Markets Financial Markets
- | Federal Testimonies Federal Testimonies
Basel Risk-Weighted Capital Standards: History of Poor Outcomes
House Subcommittee on Financial Institutions and Monetary Policy | The Tangled Web of Global Governance: How the Biden Administration is Ceding Authority Over American Financial Regulation
- | Financial Markets Financial Markets
- | Expert Commentary Expert Commentary
How Many Words Might Basel III Endgame Add To Current Bank Regulation? | FinRegRag
- | Financial Markets Financial Markets
- | Expert Commentary Expert Commentary
Congress May Modernize the SEC’s Mission. Will It Work? | The Hill
- | Financial Markets Financial Markets
- | TV Appearance TV Appearance
Economic Outlook and Risk of Recession | Fox Business Network
- | Financial Markets Financial Markets
- | TV Appearance TV Appearance
This FOMC Is Very Concerned About Going Too Far | CNBC
- | Financial Markets Financial Markets
- | Expert Commentary Expert Commentary
The Supreme Court Should Curb the SEC’s Excessive Penalties | Bloomberg Law
- | Financial Markets Financial Markets
- | TV Appearance TV Appearance
The Impact of Rising Deficits On the Economy | CNBC’s “The Exchange”
- | Financial Markets Financial Markets
- | TV Appearance TV Appearance
Rate Hikes Affect Consumer Prices | BBC News
- | Financial Markets Financial Markets
- | Expert Commentary Expert Commentary
An Ominous Outlook for the Banking Sector | FinRegRag
- | Financial Markets Financial Markets
- | Podcast Appearance Podcast Appearance
How This Spring’s Bank Failures Will Shape Bank Supervision | American Banker’s “Bankshot”
- | Financial Markets Financial Markets
- | Expert Commentary Expert Commentary
Biden Impeachment Probe May Turn on Definition of ‘Benefit' | Law360
- | Financial Markets Financial Markets
- | Expert Commentary Expert Commentary
Three Ways to Help Get the SAFER Act Back on the Right Path | FinRegRag
- | Financial Markets Financial Markets
- | TV Appearance TV Appearance
It’s a ‘Toss-Up’ Whether the Fed Will Hike Rates Again | CNBC Asia’s “Capital Connection”
- | Financial Markets Financial Markets
- | Expert Commentary Expert Commentary
Are Bank Customers Safer With the Safer Act? Doesn’t Look Like It. | FinRegRag
- | Financial Markets Financial Markets
- | TV Appearance TV Appearance
Inflation Will Stay More Elevated Than Some Expect | CNBC
- | Financial Markets Financial Markets
- | TV Appearance TV Appearance
Biden Admin Scared to Death of Triggering Financial Crisis | Fox Business Network
Latest work in Financial Markets
- | Financial Markets Financial Markets
- | Policy Briefs Policy Briefs
POLICY SPOTLIGHT | Fiscal Dominance—What It Is and How It Threatens Inflation Control
- | Financial Markets Financial Markets
- | Expert Commentary Expert Commentary
The Unholy Trinity | FinRegRag’s “FinRegRant”
- | Financial Markets Financial Markets
- | Radio Appearance Radio Appearance
FinRegRant Episode 3: The Unholy Trinity | FinRegRag
- | Financial Markets Financial Markets
- | Federal Testimonies Federal Testimonies
Basel Risk-Weighted Capital Standards: History of Poor Outcomes
House Subcommittee on Financial Institutions and Monetary Policy | The Tangled Web of Global Governance: How the Biden Administration is Ceding Authority Over American Financial Regulation
- | Financial Markets Financial Markets
- | Expert Commentary Expert Commentary
How Many Words Might Basel III Endgame Add To Current Bank Regulation? | FinRegRag
- | Financial Markets Financial Markets
- | Expert Commentary Expert Commentary
Congress May Modernize the SEC’s Mission. Will It Work? | The Hill
- | Financial Markets Financial Markets
- | TV Appearance TV Appearance
Economic Outlook and Risk of Recession | Fox Business Network
- | Financial Markets Financial Markets
- | TV Appearance TV Appearance
This FOMC Is Very Concerned About Going Too Far | CNBC
- | Financial Markets Financial Markets
- | Expert Commentary Expert Commentary
The Supreme Court Should Curb the SEC’s Excessive Penalties | Bloomberg Law
- | Financial Markets Financial Markets
- | TV Appearance TV Appearance
The Impact of Rising Deficits On the Economy | CNBC’s “The Exchange”
- | Financial Markets Financial Markets
- | TV Appearance TV Appearance
Rate Hikes Affect Consumer Prices | BBC News
- | Financial Markets Financial Markets
- | Expert Commentary Expert Commentary
An Ominous Outlook for the Banking Sector | FinRegRag
- | Financial Markets Financial Markets
- | Podcast Appearance Podcast Appearance
How This Spring’s Bank Failures Will Shape Bank Supervision | American Banker’s “Bankshot”
- | Financial Markets Financial Markets
- | Expert Commentary Expert Commentary
Biden Impeachment Probe May Turn on Definition of ‘Benefit' | Law360
- | Financial Markets Financial Markets
- | Expert Commentary Expert Commentary
Three Ways to Help Get the SAFER Act Back on the Right Path | FinRegRag
- | Financial Markets Financial Markets
- | TV Appearance TV Appearance
It’s a ‘Toss-Up’ Whether the Fed Will Hike Rates Again | CNBC Asia’s “Capital Connection”
- | Financial Markets Financial Markets
- | Expert Commentary Expert Commentary
Are Bank Customers Safer With the Safer Act? Doesn’t Look Like It. | FinRegRag
- | Financial Markets Financial Markets
- | TV Appearance TV Appearance
Inflation Will Stay More Elevated Than Some Expect | CNBC
- | Financial Markets Financial Markets
- | TV Appearance TV Appearance
Biden Admin Scared to Death of Triggering Financial Crisis | Fox Business Network
Latest work in Financial Markets
- | Financial Markets Financial Markets
- | Working Papers Working Papers
The Ethics of Insider Trading Reform
- | Financial Markets Financial Markets
- | Data Visualizations Data Visualizations
Small Business Capital Access
- | Financial Markets Financial Markets
- | Working Papers Working Papers
A Chip Off the Old Block or a New Direction for Payment Card Security?
Chips, PINs, and the Law and Economics of Payment Card Fraud
- | Financial Markets Financial Markets
- | Working Papers Working Papers
Benefits and Costs of a Higher Bank Leverage Ratio
- | Academic & Student Programs Academic & Student Programs
- | Financial Markets Financial Markets
- | Working Papers Working Papers
Governing the Financial System
A Theory of Financial Resilience
- | Financial Markets Financial Markets
- | Working Papers Working Papers
Adverse Consequences of the Binding Constitutional Interest Rate Cap in the State of Arkansas
- | Financial Markets Financial Markets
- | Working Papers Working Papers
The Recourse Rule, Regulatory Arbitrage, and the Financial Crisis
- | Financial Markets Financial Markets
- | Policy Briefs Policy Briefs
Modernizing Financial Technology Regulations to Facilitate a National Market
- | Monetary Policy Monetary Policy
- | Policy Briefs Policy Briefs
The Knowledge Problem in Monetary Policy
The Case for Nominal GDP Targeting
- | Monetary Policy Monetary Policy
- | Working Papers Working Papers
Interest-Rates-Free Monetary Policy Rule
- | Monetary Policy Monetary Policy
- | Policy Briefs Policy Briefs
Valuing the Government-Spending Multiplier
Why Monetary Offset Must Be Recognized
- | Financial Markets Financial Markets
- | Working Papers Working Papers
Federalism and Federalization on the Fintech Frontier
- | Financial Markets Financial Markets
- | Book Chapters Book Chapters
Federalism and FinTech
- | Financial Markets Financial Markets
- | Book Chapters Book Chapters
Reforming the Financial Regulators
- | Financial Markets Financial Markets
- | Working Papers Working Papers
A Primer on the Evolution and Complexity of Bank Regulatory Capital Standards
- | Financial Markets Financial Markets
- | Research Papers Research Papers
Revisiting Dodd-Frank
A Mercatus Policy Primer
- | Financial Markets Financial Markets
- | Policy Briefs Policy Briefs
Risks to Innovative Credit Posed by Emerging Regulatory and Litigation Trends
- | Financial Markets Financial Markets
- | Working Papers Working Papers
Baggage of Consumer Installment Cash Lending
A New Sorting of the Suitcases
- | Financial Markets Financial Markets
- | Books Books
Reframing Financial Regulation
Enhancing Stability and Protecting Consumers
- | Low Interest Rates and the Economy: A Mercatus Colloquium Low Interest Rates and the Economy: A Mercatus Colloquium
- | Monetary Policy Monetary Policy
- | Research Papers Research Papers
A Low-Interest-Rate Future
Latest work in Financial Markets
- | Financial Markets Financial Markets
- | Mercatus Original Podcasts Mercatus Original Podcasts
Preventing Bank Failures from Becoming Bank Crises
- | Financial Markets Financial Markets
- | TV Appearance TV Appearance
Veronique de Rugy on Fox Business' "Cavuto: Coast to Coast"
- | Financial Markets Financial Markets
- | TV Appearance TV Appearance
Veronique de Rugy talks about the Market Rally on Fox Business
- | Monetary Policy Monetary Policy
- | Mercatus Original Podcasts Mercatus Original Podcasts
- | Macro Musings Macro Musings
The Plumbing of Monetary Policy
A Macro Musings Transcript
- | Monetary Policy Monetary Policy
- | Mercatus Original Podcasts Mercatus Original Podcasts
- | Macro Musings Macro Musings
Victoria Guida on the Politics of Monetary Policy
A Macro Musings Transcript
- | Financial Markets Financial Markets
- | Mercatus Original Podcasts Mercatus Original Podcasts
What's Next for Consumer Credit Regulation?
- | Financial Markets Financial Markets
- | Mercatus Original Podcasts Mercatus Original Podcasts
What Are ICOs, and Why Do They Matter?
- | Financial Markets Financial Markets
- | Mercatus Original Podcasts Mercatus Original Podcasts
Smart Financial Regulation Roundtable: Implications of Cryptocurrencies
- | Financial Markets Financial Markets
- | Mercatus Original Podcasts Mercatus Original Podcasts
- | Mercatus Policy Download Mercatus Policy Download
Dodd-Frank Reform: 'Crapo Bill' and Beyond
The future of financial regulator policy now lies with the agencies. So what should be on the agenda?
- | Financial Markets Financial Markets
- | TV Appearance TV Appearance
Brian Knight on Bitcoin and the Future of Cryptocurrency
- | Financial Markets Financial Markets
- | Mercatus Original Video Mercatus Original Video
Reframing Dodd-Frank: Hester Peirce’s Ideas for Reform
- | Financial Markets Financial Markets
- | TV Appearance TV Appearance
Thomas Miller on Mississippi State University's Dividends Show
- | Monetary Policy Monetary Policy
- | TV Appearance TV Appearance
Scott Sumner on CNBC's Closing Bell
- | Monetary Policy Monetary Policy
- | Mercatus Original Video Mercatus Original Video
Scott Sumner: The Story Behind "The Midas Paradox"
- | Financial Markets Financial Markets
- | TV Appearance TV Appearance
David Beckworth Discusses the Federal Reserve’s December Rate Hike on Bloomberg TV
- | Academic & Student Programs Academic & Student Programs
- | Financial Markets Financial Markets
- | Mercatus Original Video Mercatus Original Video
How Will Dodd-Frank Affect the Future of Small Banks?
- | F. A. Hayek Program F. A. Hayek Program
- | Financial Markets Financial Markets
- | TV Appearance TV Appearance
Peter Boettke on Reason TV
Latest work in Financial Markets
- | Financial Markets Financial Markets
- | Public Interest Comments Public Interest Comments
Statement regarding CFPB Dodd-Frank Section 1033 Symposium
Written statement for CFPB Symposium: Consumer Access to Financial Records
- | Financial Markets Financial Markets
- | Federal Testimonies Federal Testimonies
Innovation and Competition in Lending Improves Access to Credit
Testimony before the US House of Representatives Committee on Financial Services
- | Financial Markets Financial Markets
- | Public Interest Comments Public Interest Comments
Comment for the Federal Deposit Insurance Corporation's Proposed Rule regarding Federal Interest Rate Authority
- | Financial Markets Financial Markets
- | Public Interest Comments Public Interest Comments
Comment for the Comptroller of the Currency’s Proposed Rule regarding Permissible Interest on Loans That Are Sold, Assigned, or Otherwise Transferred
- | Monetary Policy Monetary Policy
- | Public Interest Comments Public Interest Comments
FedNow Portends a More Competitive and Resilient Payments System
- | Financial Markets Financial Markets
- | Public Interest Comments Public Interest Comments
Policymakers Should Reevaluate the Premises That Led to an Overhaul of Regulation Z
- | Financial Markets Financial Markets
- | Public Interest Comments Public Interest Comments
Harmonizing Private Securities Offering Exemptions
- | Financial Markets Financial Markets
- | Public Interest Comments Public Interest Comments
Comment in Response to Proposed Rule on Payday, Vehicle-Title, and Certain High-Cost Installment Loans
- | Financial Markets Financial Markets
- | Public Interest Comments Public Interest Comments
Comment Regarding the Consumer Financial Protection Bureau's Proposed No-Action Letter and Product Sandbox Policies
- | Financial Markets Financial Markets
- | Federal Testimonies Federal Testimonies
Potential Benefits and Risks of the Increased Use of Data in Financial Services Applications
Testimony before the Senate Committee on Banking, Housing, and Urban Affairs
- | Financial Markets Financial Markets
- | Public Interest Comments Public Interest Comments
Response to the SEC's Proposed Regulation on the Best Interest for Retail Securities Broker-Dealers
- | Financial Markets Financial Markets
- | Public Interest Comments Public Interest Comments
Response to Request for Information Regarding the Bureau’s Consumer Complaint and Consumer Inquiry Handling Process
- | Financial Markets Financial Markets
- | Public Interest Comments Public Interest Comments
Comment on Proposed Rulemaking for Regulatory Capital Rules
The Supplementary Leverage Ratio Means Supplementary Complexity
- | Financial Markets Financial Markets
- | Public Interest Comments Public Interest Comments
Response to Bureau of Consumer Financial Protection Request for Information Regarding Bureau External Engagements
- | Financial Markets Financial Markets
- | Public Interest Comments Public Interest Comments
Response to Bureau of Consumer Financial Protection Request for Information Relating to Bureau Supervision Processes
- | Financial Markets Financial Markets
- | Public Interest Comments Public Interest Comments
Comment in Response to the CFPB's Request for Information on Its Enforcement Practices
- | Financial Markets Financial Markets
- | Federal Testimonies Federal Testimonies
Response to Congressman Bill Posey
Answers to Questions for the Record Following Testimony before the House Committee on Financial Services, Subcommittee on Financial Institutions and Consumer Credit Examining Opportunities and Challenges in the Financial Technology (“Fintech”) Marketplace
- | Financial Markets Financial Markets
- | Federal Testimonies Federal Testimonies
Modernizing Regulation to Encourage FinTech Innovation
Testimony before the House Committee on Financial Services, Subcommittee on Financial Institutions and Consumer Credit Examining Opportunities and Challenges in the Financial Technology (“Fintech”) Marketplace
Latest work in Financial Markets
- | Financial Markets Financial Markets
- | Expert Commentary Expert Commentary
Some Questions for Chair Powell | FinRegRag
- | Financial Markets Financial Markets
- | Expert Commentary Expert Commentary
Building a Financial System That Enables Abundance | Discourse
- | Financial Markets Financial Markets
- | Expert Commentary Expert Commentary
Building a Financial System That Enables Abundance | Discourse
- | Financial Markets Financial Markets
- | Expert Commentary Expert Commentary
There Are Far Too Many Unanswered Questions About SVB’s Failure | American Banker
- | Financial Markets Financial Markets
- | Expert Commentary Expert Commentary
Why Congress Treated SVB Witnesses So Shabbily | InsideSources
- | Financial Markets Financial Markets
- | Expert Commentary Expert Commentary
Banking Is Slowly Getting Narrower — and Better | Bloomberg Opinion
- | Financial Markets Financial Markets
- | Expert Commentary Expert Commentary
So Which Is It: Too Much, Just Enough or Not Enough Bank Capital? | FinRegRag
- | Financial Markets Financial Markets
- | Expert Commentary Expert Commentary
The Paradox of Valuing Cryptocurrency in America | The Hill
- | Financial Markets Financial Markets
- | Expert Commentary Expert Commentary
Historical Perspectives On the Size of Recent Bank Failures | FinRegRag
- | Financial Markets Financial Markets
- | Expert Commentary Expert Commentary
The Fed’s Hard Look at Banks Comes Up Short | Barron's
- | Financial Markets Financial Markets
- | Expert Commentary Expert Commentary
Confusion and Uncertainty About the Section 12(a)(2) Claim at Slack Oral Argument | FinRegRag
- | Financial Markets Financial Markets
- | Expert Commentary Expert Commentary
Knocking on the Central Bank’s Door | FinRegRag
- | Financial Markets Financial Markets
- | Expert Commentary Expert Commentary
The New DAO Model: Legal Protections for Unincorporated For-profit Associations | FinRegRag
- | Financial Markets Financial Markets
- | Expert Commentary Expert Commentary
Playing Politics: Why Won’t the Federal Reserve Give Us the Unvarnished Truth About the Economy? | The Hill
- | Financial Markets Financial Markets
- | Expert Commentary Expert Commentary
Safe Banks Require Harsh Discipline | Barron's
- | Financial Markets Financial Markets
- | Expert Commentary Expert Commentary
‘Air’ Is a Cautionary Tale About ESG | The Wall Street Journal
- | Financial Markets Financial Markets
- | Expert Commentary Expert Commentary
Total Loss-absorbing Capacity: More Leverage Is No Solution | FinRegRag
- | Financial Markets Financial Markets
- | Expert Commentary Expert Commentary
What Should Taxpayers Expect From an Enhanced Federal Revenue Machine? | The Washington Examiner
- | Financial Markets Financial Markets
- | Expert Commentary Expert Commentary
Annual Tariff Report Card Could Sort the Baptists From the Bootleggers | The Post and Courier (SC)
- | Financial Markets Financial Markets
- | Expert Commentary Expert Commentary