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plays on the world stage. The main thesis of our work is that, despite the triumphant rhetoric praising the merits of … insiders' capitalism that we describe, through the costless appropriation of an intricate cobweb of Call-Put structures, has … two sides of the Warrant Economics coin. We argue that the Warrant Economics state of capitalism has been legitimised by a …
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This paper develops a model featuring both a macroeconomic and a financial stability objective that speaks to the interaction between monetary and macroprudential policies. First, we find that interest rate rigidities in a monopolistic banking system have an asymmetric impact on financial...
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This paper examines how stringent de facto firing regulations affect firm size throughout the developing world. We …
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