What determines equilibrium securitization levels, and should they be regulated? To address these questions we develop a model where originators can exert unobservable effort to increase asset quality, subsequently having private information regarding quality when selling ABS to rational...

What determines securitization levels, and should they be regulated? To address these questions we develop a model where originators can exert unobservable effort to increase expected asset quality, subsequently having private information regarding quality when selling ABS to rational investors....

This dataset contains information about the evolution of labour market institutions in twenty OECD countries from 1960 to 2004. The countries in the sample are: Australia, Austria, Belgium, Canada, Denmark, Finland, France, Germany, Ireland, Italy, Japan, Netherlands, New Zealand, Norway,...

Given that the chief objective of development policies is to reduce poverty and that work is practically the only source of income for the poor, it is paradoxical that no system has yet been introduced in Africa to monitor the labour market. The labour force survey, the first phase of the 1-2-3...

In this paper, we use the individual-level USR data for the whole population of 1993 leavers from the ¿old¿ universities of the UK to investigate the determinants of graduate occupational earnings. Among other results, we find that there are significant differences in the occupational earnings...

Between 1993 and April 1999 there was no minimum wage in the United Kingdom (except in agriculture). In this paper we study the effects of the introduction of a National Minimum Wage (NMW) in April 1999 on one heavily affected sector, the residential care homes industry. This sector contains a...

Purpose – This paper focuses on the decision by firms to commit and to invest unilaterally. It is concerned with the intriguing question as to whether unilateral commitments are mechanisms that help a firm manage risks in alliance relationships in a proactive manner....

Strategic alliances are characterized by inherent instability arising from uncertainty regarding a partner’s future behaviour and the absence of a higher authority to ensure compliance. Consequently, when firms adopt these strategies, they are confronted with a relational risk. This paper...

This article shows how management consultant’s daily transgression practices favour semi-confidential information diffusion, which has the effect of improving managers’ strategic decision making. By their marginal transgressions (namely confidentiality rule breaking), consultants act as...