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John H. Cochrane is the Rose-Marie and Jack Anderson Senior Fellow at the Hoover Institution. He is also a research associate of the National Bureau of Economic Research and an adjunct scholar of the CATO Institute.
Before joining Hoover, Cochrane was a Professor of Finance. ....
America’s state-based banking regulation system tries to balance innovation and easy credit, relegating prudential supervision to an afterthought. ....
The Peter Principle is: “In a hierarchy, every employee tends to rise to his level of incompetence.” The Federal Reserve’s behavior illustrates an analogous principle: Institutions that are flummoxed by ....
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