In the course of ordinary business, commercial banks frequently encounter entrepreneurs seeking loans for the purpose … of financing new or continuing projects. These entrepreneurs are frequently unrealistic, their perception having been … relationship between banks and possible optimistic entrepreneurs. We examine this capital market from the stand-point of economic …

credit markets. Due to the financial imperfections, high-productivity firms - which are run by entrepreneurs - must be …

to the taxation of entrepreneurs in transition economies. …

supervision. Central bank communication will constitute a central policy tool for that purpose. The paper asks how such … communication will affect financial markets, exploiting the fact that many central banks have had some financial stability role in … times, but can have a substantially larger effect during periods of financial stress. Moreover, central bank communication …

We use experiments to analyze what type of communication is most effective in achieving cooperation in a simple … collusion game. Consistent with the existing literature on communication and collusion, even minimal communication leads to a … strategies, this initial burst of collusion rapidly collapses. When unlimited pre-game communication is allowed via a chat window …

either embodied (traded intermediates) or disembodied form (direct communication). Knowledge transfer costs interact with the …

The paper presents a positive model of communication in federal legislatures to study the incentives of members to … consideration, communication between delegates generally suffers from a bias that make truthful revelation difficult and sometimes …-)centralization, which revisits Oates' decentralization theorem in a world of incomplete information and strategic communication. Empirical …

, using rules and task guidelines, and ex post coordination, using communication and broad job assignments. It shows that: (i … communication and substantial employee discretion. (iii) Broad task assignments and intensive horizontal communication are … complementary. Hence, lower communication costs often result in less specialization. …