Showing 1 - 10 of 965
This paper explores the origins and impact of "truth-in-advertising" regulation during the Progressive era. Was … advertising regulation adopted in response to rent-seeking on the part of firms who sought to limit the availability of … advertising as a competitive device? Or was advertising regulation desired because it furnished a mechanism through which firms …
Persistent link: https://www.econbiz.de/10012466744
The paper elicits a mechanism by which private leverage choices exhibit strategic complementarities through the reaction of monetary policy. When everyone engages in maturity transformation, authorities have little choice but facilitating refinancing. In turn, refusing to adopt a risky balance...
Persistent link: https://www.econbiz.de/10012463512
National safety nets are imbedded in country-specific regulatory cultures that encompass contradictory goals of nationalistic welfare maximization, merciful treatment of distressed institutions, and bureaucratic blame avoidance. Focusing on this goal conflict, this paper develops two hypotheses....
Persistent link: https://www.econbiz.de/10012465053
depth of a crisis and the ease and sustainability of recovery, and to analyze their fiscal cost. A consistent framework … eight crisis countries, we find empirically that a package of specific resolution measures can help accelerate the recovery … from a crisis. These policies, however, come with significant fiscal costs …
Persistent link: https://www.econbiz.de/10012470334
This paper analyzes the implication of inefficient financial intermediation for crisis management in a country where … analysis for the current policy debate on crisis management is East Asia is that dept reduction, in addition to debt …
Persistent link: https://www.econbiz.de/10012471337
Persistent link: https://www.econbiz.de/10001664020
Large crises tend to follow rapid credit expansions. Causality, however, is far from obvious. We show how this pattern arises naturally when financial intermediaries optimally exploit economic rents that drive their franchise value. As this franchise value fluctuates over the business cycle, so...
Persistent link: https://www.econbiz.de/10012480928
Reputational incentives may be a powerful mechanism for improving supplier performance. We analyze their role in contract awarding, exploiting an experiment run by a firm which introduced a new vendor rating system scoring suppliers' past performance and linking it to the award of future...
Persistent link: https://www.econbiz.de/10012455866
In fighting a financial crisis, opacity (keeping the names of banks borrowing at emergency lending facilities secret …
Persistent link: https://www.econbiz.de/10012455893
This paper shows that endogenous cycles can arise when contracts between firms and their customers are incomplete and when products are experience goods. Then firms invest in the quality of their output in order to establish a good reputation. Cycles arise because investment in reputation causes...
Persistent link: https://www.econbiz.de/10012455977