This paper empirically investigates banks' investment allocations over the recent business cycle. I identify unsolicited deposit shocks resulting from unconventional energy development and estimate bank allocations of these deposits. In the pre-recession period, banks lend 38 percent of...

The development of petroleum resources through cooperative rather than competitive mechanisms has assumed great importance globally. Unitization is the joint, coordinated operation of a petroleum reservoir by all the different owners of the reservoir; it is the best mechanism for assuring the...

Offshore wind power is regarded as a crucial renewable energy technology to achieve the ambitious CO2 reduction targets of the EU. However, offshore wind power is not yet competitive with traditional electricity generation technologies, so its sustained development depends on national support...

High rates of unemployment entail substantial costs to the working population in terms of reduced subjective well-being. This paper studies the importance of individual economic security, in particular, job security, in workers' well-being by exploiting sector-specific institutional differences...