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Urban growth drivers in a Europe of sticky people and implicit boundaries
Cheshire, Paul; Magrini, Stefano - London School of Economics (LSE) - 2008
We investigate urban GDP per capita growth across the EU12 using data for functionally defined cities—rather than administrative regions. We test hypotheses on the role of human capital, EU integration and fragmentation of urban government and explore spatial dependence and mechanisms of...
Persistent link: https://www.econbiz.de/10011071521
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How significant are fiscal interactions in designing federations?: a meta-regression analysis
Costa-i-Font, Joan; De-Albuquerque, Filipe; … - London School of Economics (LSE) - 2011
varies from country to country. Third, both tax competition and yardstick competition are supported by the data, though the … decentralization all shape fiscal interactions. Political competition and fiscal decentralization both increase horizontal tax … competition and they decrease vertical tax competition. Finally, much of the variation between estimates can be explained by …
Persistent link: https://www.econbiz.de/10011071302
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ART versus reinsurance: the disciplining effect of information insensitivity
Brandts, Silke; Laux, Christian - London School of Economics (LSE) - 2005
We provide a novel benefit of "Alternative Risk Transfer" (ART) products with parametric or index triggers. When a reinsurer has private information about his client’s risk, outside reinsurers will price their reinsurance offer less aggressively. Outsiders are subject to adverse selection as...
Persistent link: https://www.econbiz.de/10010745956
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Credit rationing, wealth inequality and allocation of talent
Ghatak, Maitreesh; Morelli, Massimo; Sjostrom, Tomas - London School of Economics (LSE) - 2002
We study an economy where agents are heterogeneous in terms of observable wealth and unobservable talent. Adverse selection forces creditors to ask for collateral. We study the two-way interaction between rationing in the credit market and the wages offered in the labour market. Both pooling and...
Persistent link: https://www.econbiz.de/10010746194
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Long-term debt and hidden borrowing
Bar-Isaac, Heski; Cuñat, Alejandro - London School of Economics (LSE) - 2005
We consider borrowers with the opportunity to raise funds from a competitive banking sector that shares information, and from an alternative hidden lender. The presence of the hidden lender restricts the contracts that can be obtained from the banking sector. In equilibrium some borrowers obtain...
Persistent link: https://www.econbiz.de/10011071410
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Do reputational concerns lead to reliable ratings?
Mariano, Beatriz - London School of Economics (LSE) - 2008
be bad based on private and public information. The paper provides a reason for why competition in the ratings industry …
Persistent link: https://www.econbiz.de/10010745887
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Competition and opportunistic advice of financial analysts: theory and evidence
Sette, Enrico - London School of Economics (LSE) - 2007
competition, measured as the strength of coverage of a stock from other analysts. The interaction among analysts and investors is …
Persistent link: https://www.econbiz.de/10011071323
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Noise and competition in strategic oligopoly
Dridi, Ramdan; Germain, Laurent - London School of Economics (LSE) - 2000
Focusing on homogeneous beliefs, we can distinguish two commonly shared ideas that, i) the competition between informed … market, i) the informativeness of prices increases with the degree of competition and, ii) the aggregate and individual …
Persistent link: https://www.econbiz.de/10011071458
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Driven to swim with the tide?: urban redevelopment and community participation in China
Shin, Hyun Bang - London School of Economics (LSE) - 2008
Over the last decade, there has been growing attention to the issue of neighbourhood governance and community participation in China. The focus has been on the extent to which community involvement in rule-making and decision-making processes could be promoted. The issue of community...
Persistent link: https://www.econbiz.de/10010928731
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From periphery to core: economic adjustments to high speed rail
Ahlfeldt, Gabriel M.; Feddersen, Arne - London School of Economics (LSE) - 2010
This paper presents evidence that high speed rail systems, by bringing economic agents closer together, sustainably promote economic activity within regions that enjoy an increase in accessibility. Our results on the one hand confirm expectations that have led to huge public investments into...
Persistent link: https://www.econbiz.de/10010884736