We document the presence of asymmetric business cycles in both regular and contract labour markets in India, investigate the role of nominal wage rigidities in accounting for these asymmetries, and study optimal inflation policy in such a milieu. Using data from Annual Survey of Industries, we...

Extending Ehrlich et al.’s (2008, 2011) labor-theoretic, rational-expectations model of asset management (AM), we investigate the interplay between AM and portfolio choices of older-age households in a sample of 11 European countries plus Israel over 5 waves of the SHARE longitudinal data in...

We study regime shifts demand for pure liquidity. Building on a simplistic overlapping generations model with exchange economy, we demonstrate that there exists different types of equilibrium regimes in which the demand for liquidity or rational bubbles is (1) stable and high (2) stable and low,...

We propose an accounting framework that maps the dispersion of borrowing costs along the debt maturity structure to the misallocation of productive resources. Specif- ically, we decompose the effects of credit misallocation into two distinct channels: limited access to debt finance (scale...

To explore the relationship between spatial location and quality differentiation, we build a dataset of over 30,000 restaurants rated by TripAdvisor, across large UK cities. Whereas top-rated restaurants tend to locate close to other top restaurants, bottom-rated restaurants tend to locate away...