The Consumer Finance Institute hosted a workshop in February 2019 featuring José Quiñonez, chief executive officer, and Elena Fairley, programs director, of Mission Asset Fund (MAF) to discuss MAF's approach to helping its clients improve access to mainstream financial markets. MAF's signature...

We build a dataset of harmonized rotating panel labor force surveys covering 42 countries across a wide range of development and document three new empirical findings on labor market dynamics. First, labor market flows (job-finding rates, employment-exit rates, and job-to-job transition rates)...

The most common business enterprise form in Germany today is the Gesellschaft mit beschränkter Haftung (GmbH). The GmbH offers entrepreneurs the partnership's flexibility combined with limited liability, capital lock-in, and other traits associated with corporations. Earlier enterprise forms...

During the last decade, the Dutch have debated intensively reforming their second-pillar pension scheme. Meanwhile, ten years turned out to be a too short period for pension funds to bring their funding ratios to sound levels, due to among others the worldwide decline of interest rates....

This note shows that the egalitarian Dutta and Ray (1989) solution for transferable utility games is self-antidual on the class of exact partition games. By applying a careful antiduality analysis, we derive several new axiomatic characterizations. Moreover, we point out an error in earlier work...

This paper studies sequencing situations with non-linear cost functions. We show that the neighbor switching gains are now time-dependent, in contrast to the standard sequencing situations with linear cost functions, which complicate finding an optimal order and stable allocations. We derive...

For multivariate distributions in the domain of attraction of a max-stable distribution, the tail copula and the stable tail dependence function are equivalent ways to capture the dependence in the upper tail. The empirical versions of these functions are rank-based estimators whose inflated...

Using an event study methodology, this paper examines how European firms have been affected by the announcement of the Pandemic Emergency Purchase Program (PEPP) of the ECB. Firms with an investment-grade rating benefit relatively more as evidenced by higher share prices and lower CDS spreads,...

The publish-or-perish principle has become a fact of academic life in gaining a position or being promoted. Evidence is mounting that benefits of this pressure is being countered by the downsides, notably by means of scientific misconduct or forms of goal displacement by scientists. In this...

We investigate whether acquisition experience of executive and non-executive directors is priced in their remuneration. We find that acquisition experience generates a contractual premium, and the relative size of this premium is higher for non-executive directors than for executives. Only a...