The anticipation of a future bailout of distressed firms worsens ex ante adverse selection, causing a market freeze at present and inviting government intervention ("bailout trap"). When firms of heterogenous qualities raise financing, high-quality firms are willing to bear adverse selection...

Special Theme: Social Networks, Disaster Recovery and Environmental Governance in the Face of Climate Change. The session topics include, but are not limited to: Crime networks; Networks and organisations; Health; Social media; Social enterprise; Governance; Network methods; Networks in...

Understanding inflation expectations is a key prerequisite for informed monetary policy decision-making. The expectations of households, firms, financial markets and other economic agents about future price developments have become a prime source for supporting the analysis of financial...