This paper analyzes the determinants of social capital, as generalized trust, from a microeconomic perspective. We review previous results at the aggregate level and test their significance in our setup. Specifically we aim at testing the role of political participation and the quality of...

This paper analyzes influence of an additional referee on number of fouls by using the data from Women's Japan Basketball League (WJBL) in order to examine whether number of police officers affects the crime rate. For the season of 2010-2011, the upper league of the WJBL introduced three-referee...

Why are women financially excluded? Is there an association between women empowerment laws, prevalence of discriminatory attitudes in a society towards women and financial empowerment of women? Using a cross-country survey, this paper finds statistical evidence that suggests women are...

This paper shows a world where the individual practices concomitantly legal and illegal activities in two period of their lifetime. The results of the two-period model unveil that effectiveness of anti-money laundering policies and increase of probability of the agent to be apprehended and...

In this note we investigate the infringement (entry) decision for a firm facing an incumbent patent holder with uncertain patent rights. The entrant risks a dispute by entering, resulting in either a settlement (licensing) or litigation and trial. Using the litigation model described by Priest...

This paper investigates whether monetary and fiscal policies, such as lump-sum taxes, distortionary taxation and monetization of public deficit, have criminal impacts. We address this question extending the neoclassical monetary growth model. We have demonstrated that fiscal policies affect...

In this paper, we introduce a proxy for the legal protection of investors, a dummy variable that indicates legal origins, into the Feldstein and Horioka (1980, Economic Journal 90) saving-investment regression. The estimations show that in the French-civil-law countries, which have the weakest...

This paper investigates whether monetary and fiscal policies, such as lump-sum taxes, distortionary taxation and monetization of public deficit, have criminal impacts. We address this question extending the neoclassical monetary growth model. We have demonstrated that fiscal policies affect...

History is replete with overt discrimination of various forms. However, these forms of discrimination are not equally tolerable. For example, discrimination based on immutable or prohibitively unalterable characteristics such as race or gender is much less acceptable. Why? I develop a simple...

Edlin and Reichelstein (1996) claim that an efficient solution to the hold-up problem can be implemented with a specific performance contract if a separability condition is satisfied, i.e. if the effect of investments and the effect of the state of the world enter the parties valuation functions...