provide partial supporting evidence for the economic theory, which asserts that monetary policy efficiency must fall during …

A personal bankruptcy law that allows for a "fresh start" after bankruptcy reduces the individual risk involved in … entrepreneurial activity. On the other hand, as risk shifts to creditors who recover less of their credit after a debtor's bankruptcy … forgiving personal bankruptcy law are less relevant for wealthy potential entrepreneurs who still risk losing their wealth, but …

although risk can be measured, uncertainty cannot be measured. Even though risk can be measured, a simple symmetric measure … attempt at "measuring" risk or (fundamental) uncertainty is flawed. …

How does small-firm employment respond to exogenous labor productivity risk? We find that this depends on the … depends on the weather. Weather risk reduces this employment, and the effect is stronger in regions where the regional banks …

and price of unsecured debt. -- household debt portfolios ; housing ; collateral ; bankruptcy ; commitment ; income risk … the U.S. We then establish the quantitative result that home equity does not serve as informal collateral for unsecured …