Our study investigates the link between bank lending behavior and macroeconomic uncertainty. We develop a dynamic model of a bank's value maximization that results in a negative relationship between loan to capital ratio and macroeconomic uncertainty. This proposition is tested using a panel of...

We examine why firms change their main bank and how this affects loans, interest payments and firm performance after switching. Using unique firm-bank matched Ukrainian data, the treatment effect estimates suggest that more transparent and riskier companies are more likely to switch their main...

Leisure is an important domain of life in modern societies. To find out who participates in what leisure activities, two different theoretical approaches are available. Classical inequality theories posit that differences in leisure activities are strongly connected with social position. In...

This study is intended to assess the introduction of increased capitalization requirements for Ukrainian insurance firms. To do so, we employ up-to-date frontier efficiency analysis. The analysis suggests that an increase in size occurs not only because of the regulator's requirements, but also...

The paper analyzes the incidence, the severity and the determinants of household poverty in Ukraine during transition using two comparable surveys from 1996 and 2004. We measure poverty using income and consumption and contrast the effects of various poverty lines. Poverty in both periods...

The paper analyzes the incidence, the severity and the determinants of household poverty inUkraine during transition using two comparable surveys from 1996 and 2004. We measurepoverty using income and consumption and contrast the effects of various poverty lines.Poverty in both periods follows...

We analyze comprehensive manufacturing firm data to measure the contribution of interfirm employment reallocation to aggregate productivity growth during the socialist and reform periods in six transition economies. Modifying a standard decomposition technique to better reflect the role of firm...

Research on informal employment in transition countries has been very limited because of alack of appropriate data. A new rich panel data set from Ukraine, the Ukrainian LongitudinalMonitoring Survey (ULMS), enables us to provide some empirical evidence on informalemployment in Ukraine and the...

This paper is the first study that analyzes the drivers of political protest using longitudinal data from a critical revolution that changed -at least temporarily- the political landscape in a transition country. We make use of a rich dataset consisting of panel data collected before and after...

How do new and foreign firms achieve superior productivity? Do they conduct more and better R&D? Or do they distinguish themselves through computerization and organizational capital? We investigate the determinants of and returns to several types of investment, using a panel of over 40,000...