We study the implications of credit constraints for the sustainability of product market collusion in a bank-financed oligopoly in which firms face an imperfect credit market. We consider two situations, without and with credit rationing, i.e., with a binding credit limit. When there is credit...

The purpose of this research study has been to expand our understanding of the finance-growth "nexus" to finance-growth-inequality "nexus" in the presence of both the formal and the informal sources of borrowing. Using empirical evidence of IHDS Survey data for two rounds the study attempts to...

Macroeconomic downturns can have an important impact on the availability of informal and formal long-term care. This paper investigates how the market for informal care changed during and after the Great Recession in Europe. We use data from the Survey of Health, Aging and Retirement in Europe,...

We still know little about what motivates the informal care arrangements provided in old age. The introduction of demand-side subsidies such as unconditional caregiving allowances (cash benefits designed either to incentivize the provision of informal care, or compensate for the loss of...

Are workplace smoking bans (WSBs) more than a ban on smoking? We study whether WSBs influence smoking cessation and exert behavioural spillover effects on (i) a set of health behaviours, and (ii) on individuals not directly affected by the bans. Drawing upon quasi-experimental evidence from...

In a general equilibrium model with online, entertainment and informal sectors employing skill, unskilled, and capital, we show that Covid-19 could cause polarization pushing contact-intensive entertainment industry on the brink of collapse while other two survive. Dual roles of factor-intensity...

The COVID-19 pandemic and its mobility restrictions have been an external shock, influencing wellbeing. However, does risk exposure affect the welfare effect of lockdowns? This paper examines the 'welcomed lockdown' hypothesis, namely the extent to which there is a level of risk where mobility...

We study the effect of long-term care (LTC) subsidies and supports on the wellbeing of unpaid caregivers. We draw on evidence from a policy intervention, that universalized previously means-tested caregiving supports in Scotland, known as free personal care (FPC). We document causal evidence of...