Central banks’ economic and political importance has grown in advanced economies since the start of the Great Financial Crisis in 2007. An unwillingness or inability of governments to use countercyclical fiscal policy has made monetary policy the only stabilization tool in town. However, much...

Despite their small number, Israeli economists have become an important fixture in the international academic scene. In recent years, this phenomenon has been characterized by an additional attribute: the number of Israelis who have chosen to leave the country’s universities - or not to return...

One of the more important measures of a scholar’s research impact is the number of times that the scholar’s work is cited by other researchers as a source of knowledge. This paper conducts a first of its kind examination on Israel’s academic economists and economics departments, ranking...

This paper provides a comparative examination of how public universities in two countries, the United States and Israel, have evolved over the past few decades - and how differences between the two have culminated in a rate of academic brain drain from the latter to the former that is...

Deterrence of illegal activities is frequently carried out by many atomistic auditors (tax auditors, law enforcement agents, etc.). Not much is known either normatively about the best way to incentivize atomistic auditors, nor positively about what these incentives actually look like in real...

Despite the potential for free-riding, workers motivated by `making a difference' to the mission or output of an establishment may donate labour to it. When the establishment uses performance related compensation (PRC), these labour donations closely resemble a standard private provision of...

Despite the potential for free-riding, workers motivated by ‘making a difference’ to the mission or output of an establishment may donate labour to it. When the establishment uses performance related compensation (PRC), these labour donations closely resemble a standard private provision of...

This paper analyses cooperation among national supervisors in the decision to close a multinational bank. The supervisors are asymmetrically informed and exchange information through ’cheap talk’. It is assumed that they consider domestic welfare only. We show that: (1) the supervisors will...

We develop a dynamic stochastic general equilibrium model with an heterogeneous banking sector. We introduce endogenous default probabilities for both firms and banks, and allow for bank regulation and liquidity injection into the interbank market. Our aim is to understand the interactions...

How damaging is competition between bank regulators? This paper models regulators that compete because they want to supervise more banks. Both banks' risk profiles and their access to wholesale funding are endogenous, leading to rich interactions. The sensitivity of regulatory standards to bank...