Showing 1 - 10 of 80
view that securitization caused a reduction in the cost of capital …
Persistent link: https://www.econbiz.de/10013128899
This paper explores the practice of mortgage refinancing in a dynamic competitive lending model with risky borrowers and costly default. We show that prepayment penalties improve welfare by ensuring longer-term lending contracts, which prevents the mortgage pools from becoming disproportionately...
Persistent link: https://www.econbiz.de/10013135393
crime drop can be sustained. State and local revenue shortfalls have engendered intense interest in cost-cutting measures …
Persistent link: https://www.econbiz.de/10013136359
A long theoretical literature in economics addresses the heavy reliance of the U.S. criminal justice system on very expensive forms of punishment - prison - when cheaper alternatives - such as fines and other sanctions - are available. This paper analyzes the role of fines as a criminal sanction...
Persistent link: https://www.econbiz.de/10013137008
We analyze a firm's job-assignment and worker-monitoring decisions when workers face occasional crises. Firms prefer to assign good workers to a difficult task and to not employ bad workers. Firms observe failures but only observe successfully resolved crises if they monitor the worker. If...
Persistent link: https://www.econbiz.de/10013118123
cost: a gas tax and an optimal weight varying mileage tax. Comparing these options, we find that the cost is similar for …
Persistent link: https://www.econbiz.de/10013123307
The conventional model for the use of cost effectiveness analysis for health programs involves determining whether the … cost per unit of effectiveness of the program is better than some socially determined maximum acceptable cost per unit of … effectiveness. If a program is better, the policy implication is that it should be implemented by full coverage of its cost by …
Persistent link: https://www.econbiz.de/10013099121
use of the negligence rule is triggered by harm, the rule enjoys an intrinsic enforcement cost advantage over regulation …
Persistent link: https://www.econbiz.de/10013100136
plans that are ex post optimal with respect to total cost (premiums and co-payments). Relative to the benchmark of a static … reconcile with decision costs alone; it appears that unless a sizeable fraction of consumers value plan features other than cost …
Persistent link: https://www.econbiz.de/10013104980
This paper estimates the sensitivity of students' college application decisions to a small change in the cost of … ACT-takers sent more college applications and low-income ACT-takers attended more selective colleges after the cost change …. The first strategy compares ACT-takers before and after the cost change, controlling for time trends and covariates, and …
Persistent link: https://www.econbiz.de/10013075416