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How successful are banking sector reforms in emerging market economies? : evidence from impact of monetary policy on levels and structures of firm debt in India
Bhaumik, Sumon Kumar; Kutan, Ali Mustafa; Majumdar, Sudipa - 2016
that well-functioning credit markets would reflect a bank channel for monetary policy at work, we test whether a change in … and the associated change in interest rate does not affect change in bank credit, change in total debt and the proportion … of bank credit in total debt for any of the firms. We discuss the policy implications of the findings. …
Persistent link: https://www.econbiz.de/10011493763
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The welfare effects of law enforcement in the illegal money lending market
Leong, Kaiwen; Li, Huailu; Pavanini, Nicola; Walsh, … - 2022
We estimate a structural model of borrowing and lending in the illegal money lending market using a unique panel survey of 1,090 borrowers taking out 11,032 loans from loan sharks. We use the model to evaluate the welfare effects of alternative law enforcement strategies. We find that a large...
Persistent link: https://www.econbiz.de/10013262951
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Reflections on the US college loans system : lessons from Australia and England
Barr, Nicholas A.; Chapman, Bruce James; Dearden, Lorraine - 2018
There is wide agreement the US student loan system faces significant problems. Seven million borrowers are in default and many more experience non-repayment. The stress of repayments faced by many students results at least in part from the design of US student loans. Specifically, loans are...
Persistent link: https://www.econbiz.de/10011820067
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Informal search, bad search? : the effects of job search method on wages among rural migrants in urban China
Chen, Yuanyuan; Wang, Le; Zhang, Min - 2017
these issues specifically for rural migrants in urban China, a country where one of the largest domestic migration in human …
Persistent link: https://www.econbiz.de/10011735917
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Unawareness and selective disclosure : the effect of school quality information on property prices
Haisken-DeNew, John P.; Hasan, Syed; Jha, Nikhil; … - 2016
The Australian Government launched the My School website in 2010 to provide standardised information about the quality of schools to the Australian public. This paper combines data from this website with home sales data for the state of Victoria to estimate the effect of the publication of...
Persistent link: https://www.econbiz.de/10011595222
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Why do firms pay an overtime premium?
Hart, Robert A.; Ma, Yue - 2000
We develop a rationale for the payment by firms of a wage premium on marginal, or overtime, weekly hours. We examine wage-hours contracts within the framework of a two-period specific human capital model with asymmetric information. The wage premium serves to achieve contract efficiency. For...
Persistent link: https://www.econbiz.de/10011335237
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Do foreign owners favor short-term profit? : evidence from Germany
Dill, Verena; Jirjahn, Uwe; Smith, Stephen C. - 2014
Comparing domestic- and foreign-owned firms in Germany, this paper finds that foreign-owned firms are more likely to focus on short-term profit. This influence is particularly strong if the local managers of the German subsidiary are not sent from the foreign parent company. Moreover, the...
Persistent link: https://www.econbiz.de/10010354622
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Corporate efficiency, credit status and investment
Quader, Manzur; Taylor, Karl - 2014
's constrained credit status changes with the improvement of its efficiency. The results further reveal that financially constrained …
Persistent link: https://www.econbiz.de/10010379263
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Experts' awards and economic success : evidence from an Italian Literary Prize
Ponzo, Michela; Scoppa, Vincenzo - 2015
Product quality is often unobservable ex-ante and consumers rely on experts' judgments, sometimes in the form of ratings or awards. Do awards affect consumers' choices or, conversely, are they conferred on the most popular products? To disentangle this issue, we use data about the most important...
Persistent link: https://www.econbiz.de/10010469022
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Asymmetry of information within family networks
De Weerdt, Joachim; Génicot, Garance; Mesnard, Alice - 2014
This paper studies asymmetry of information and transfers within a unique data set of 712 extended family networks from Tanzania. Using cross-reports on asset holdings, we construct measures of misperception of income among all pairs of households belonging to the same network. We show that...
Persistent link: https://www.econbiz.de/10010398780