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Business Failures by Branch of Business in the United States, 1895 to 1935 : A Statistical History
Richardson, Gary; Angel, Marco del; Gou, Michael - National Bureau of Economic Research - 2024
Dun's Review began publishing monthly data on bankruptcies by branch of business during the 1890s. Those series evolved through many iterations. This essay reconstructs the series from 1895 to 1935 and discusses how it can be used for economic analysis
Persistent link: https://www.econbiz.de/10015072870
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Bankruptcy : Past Puzzles, Recent Reforms, and the Mortgage Crisis
White, Michelle J. - 2008
This paper discusses four bankruptcy-related policy issues. First, what is the economic rationale for having a bankruptcy procedure at all and what defines an economically efficient bankruptcy procedure? Second, why did the number of U.S. bankruptcy filings increase so dramatically between 1980...
Persistent link: https://www.econbiz.de/10012464099
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Financial Sector Regulation and Reforms in Emerging Markets : An Overview
Prasad, Eswar S. - 2010
as they attempt to reform their frameworks for financial regulation. These economies are striving to balance the quest … objectives can in fact reinforce one another. I also discuss aspects of macroeconomic policies and cross-border regulation that …
Persistent link: https://www.econbiz.de/10012462228
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Using Deferred Compensation to Strengthen the Ethicsof Financial Regulation
Kane, Edward J. - 2001
Defects in the corporate governance of government-owned enterprises tempt opportunistic officials to breach duties of public stewardship. Corporate-governance theory suggests that incentive-based deferred compensation could intensify the force that common-law duties actually exert on regulatory...
Persistent link: https://www.econbiz.de/10012470321
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Ethical Foundations of Financial Regulation
Kane, Edward J. - 1997
Regulation consists of rulemaking and enforcement. Economic theory offers two complementary rationales for regulating … arise in multi- party relationships and that regulation introduces opportunities to impose rules that enhance the welfare of … discretion and choose actions for the common good. Agency-cost theories portray regulation as a way to raise the quality of …
Persistent link: https://www.econbiz.de/10012472798
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Wage Garnishment in the United States : New Facts from Administrative Payroll Records
DeFusco, Anthony A.; Enriquez, Brandon M.; Yellen, … - National Bureau of Economic Research - 2022
Wage garnishment allows private and public creditors to pull money directly out of a worker's paycheck to repay defaulted debt. Despite growing public concern surrounding the effects of strict debt collection mechanisms, a dearth of data has precluded empirical examination of the prevalence of...
Persistent link: https://www.econbiz.de/10013477216
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Personal Bankruptcy Law and Innovation around the World
Cumming, Douglas J.; Morck, Randall; Rong, Zhao; Zhang, … - National Bureau of Economic Research - 2024
Because corporate limited liability protects founder's personal assets, creditors often require founders of new, small and risky firms to contract around limited liability by pledging their personal assets as collateral for loans to their firms. This makes personal bankruptcy law (PBL) relevant...
Persistent link: https://www.econbiz.de/10015056150
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The Japanese Banking Crisis : Where Did It Come From and How Will It End?
Hoshi, Takeo - 1999
We argue that the deregulation leading up to the Big Bang has played a major role in the current banking problems. This deregulation allowed large corporations to quickly switch from depending on banks to relying on capital market financing. We present evidence showing that large Japanese...
Persistent link: https://www.econbiz.de/10012471540
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Bailouts, Time Inconsistency, and Optimal Regulation
Chari, V.V. - 2013
bailouts are costly because they worsen incentives and thereby reduce welfare. We show that regulation in the form of limits on … undertake bailouts. In terms of the cyclical properties of regulation, we show that regulation should be tightest in aggregate …
Persistent link: https://www.econbiz.de/10012459471
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Regulatory Structure in Futures Markets : Jurisdictional Competition Among the SEC, the CFTC, and Other Agencies
Kane, Edward J. - 1984
establishes an evolutionary mechanism for adapting regulatory structures to technological and regulation-induced innovation. Using …
Persistent link: https://www.econbiz.de/10012477763