While the term sports law has been used as a catch-all phrase to describe the increasing number of sports-related disputes being submitted to the courts for resolution, no substantive defmition of this phenomenon has been forthcoming. This paper suggests categorical parameters for the field through a descriptive case analysis of four types of sports disputes frequently litigated: traditional ne...

In spite of the mystique behind a central bank’s balance sheet, its resource constraint bounds the dividends it can distribute by the present value of seignorage, which is a modest share of GDP. Moreover, the statutes of the Federal Reserve or the ECB make it difficult for it to redistribute resources across regions. In a simple model of sovereign default, where multiple equilibria arise if deb...