​We study the interaction of matching and credit frictions in the housing market. In the model, risk-averse households … of matching frictions. We also show that credit frictions greatly magnify the effects of matching frictions. For instance …, in the presence of matching frictions, a moderate tightening of the borrowing constraint increases idiosyncratic price …

. The search and matching approach first accounts for the time needed to restore normal functioning of financial markets …

-Miller irrelevance theorem. This paper combines dividend signalling theories and the Diamond-Dybvig bank run model. An opaque bank must … signal its solvency by paying high and stable dividends in order to keep depositors tranquil. This signalling may require …

, such as knowledge spillovers, business connections and improved access to private information that have a positive effect …, less central community. Our tests provide novel evidence of information spillovers and networking opportunities in big … cities that can directly affect how CEOs are compensated. Such sources of information and influence represent something for …