The evidence suggests that relational contracting and legal rules play an important role in credit markets but on the … relational incentives are a powerful causal determinant for the existence and performance of credit markets. In fact, in the … absence of legal enforcement and reputation formation opportunities the credit market breaks down almost completely while if …

's constrained credit status changes with the improvement of its efficiency. The results further reveal that financially constrained …

propose a simple model where firms producing varieties face labor-market frictions and credit constraints. In the model …, tighter credit leads to lower output, lower number of vacancies, and higher directed-search unemployment. Where workers are … more productive at higher levels of firm output, lower credit supply increases firm capital intensity, raises inequality by …

individuals' sleep time exhibits both variability and volatility characterized by stationary autoregressive conditional … young children at home. Volatility is greater among parents with young children, slightly greater among men than women, but … independent of other demographics. A theory of economic incentives to minimize the dispersion of sleep predicts that higher …

volatility of both inflation and unemployment differentials. Finally, we show that it is important to take into account the …