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In the United States and the European Union (EU), political incentives to oppose cross-border banking have been strong in spite of the measurable benefits to the real economy from breaking down geographic barriers. Even a federal-level supervisor and safety net are not by themselves sufficient...
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. Following bankruptcy reform, wealthier households under 50 reduced their arrears between 2004 and 2007. During the sub …
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We develop a two-stage game in which competing airlines first choose the networks of markets to serve in the first stage before competing in price in the second stage. Spillovers in entry decisions across markets are allowed, which accrue on the demand, marginal cost, and fixed cost sides. We...
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by owner-occupied housing whereas unsecured debt can be discharged according to bankruptcy regulations. We show that the … in homestead exemptions, which are an important part of U.S. bankruptcy regulation, have a small effect on the quantity …
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by durables whereas unsecured debt can be discharged in bankruptcy procedures. We show that the model matches the main … exemptions in bankruptcy procedures have very small effects on the equilibrium. …
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