This paper develops a regulatory competition model to study whether and how refugee law should be centralized, and what are the consequences for refugees and for host countries. Varying refugee flows across countries lead some destinations to adopt strict measures. The resulting externality...

Drawing together the concepts of inefficiency and banking crisis is directly inspired by business cycles theory where a crisis is the turning point from which the market/economy is recovering. If inefficiency plays a role in the occurrence of banking crisis, the post-crisis period should be the...