positively to the product market reform in industries of countries where patent rights are strong, not where these are weak. The … positive response to the reform is more pronounced in industries in which innovators rely more on patenting than in other …

implications -- for entry into regulation, and for the price-output structure that emerges from regulation. The main task of the …

-fledged financial crisis. It discusses why, although the Lehman Brothers bankruptcy was a key trigger for the global financial crisis … following couple of weeks. The paper then looks at the policy responses to the financial crisis to evaluate whether they helped … avoid a worldwide depression. The paper ends by discussing the policy challenges raised in the aftermath of the crisis …

and during the sub-prime crisis of 2007-08. Liquidity holdings of large settlement banks experienced on average a 30 …% increase in the period immediately following 9th August, 2007, the day when money markets froze, igniting the crisis. Following … overnight inter-bank rates to rise, an effect virtually absent in the pre-crisis period. This liquidity effect on inter …

Prior to the subprime crisis, mortgage brokers originated about 65% of all subprime mortgages. Yet little is known … about their behavior during the runup to the crisis. Using data from New Century Financial Corporation, we find that brokers … and vary with borrower, broker, regulation and neighborhood characteristics. We relate the broker profits to the …