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The Redistributive Effects of Financial Deregulation

Korinek, Anton - 2013

Financial regulation is often framed as a question of economic efficiency. This paper, by contrast, puts the … levels of welfare for the two parties. A regulator has to trade off efficiency in the financial sector, which is aided by … deregulation, against efficiency in the real economy, which is aided by tighter regulation and a more stable supply of credit. We …

Persistent link: https://www.econbiz.de/10013073879

Insolvency Resolution and the Missing High Yield Bond Markets

Becker, Bo - 2013

-standard-deviation increase in the efficiency of bankruptcy is associated with an increase in the stock of corporate bonds equal to 5% of firm …

Persistent link: https://www.econbiz.de/10013076562

Strategic Involuntary Teacher Transfers and Teacher Performance : Examining Equity and Efficiency

Grissom, Jason A. - 2013

transferred teachers were systematically moved to higher-performing schools. Efficiency impacts are mixed; although transferred …

Persistent link: https://www.econbiz.de/10013080836

Efficient Recapitalization

Philippon, Thomas - 2009

We analyze government interventions to recapitalize a banking sector that restricts lending to firms because of debt overhang. We find that the efficient recapitalization program injects capital against preferred stock plus warrants and conditions implementation on sufficient bank participation....

Persistent link: https://www.econbiz.de/10013160157

On the Timing and Efficiency of Creative Destruction

Caballero, Ricardo J. - 2010

This paper analyzes the timing, pace and efficiency of the on- going job reallocation that results from product and … policies can restore economic efficiency …

Persistent link: https://www.econbiz.de/10013139984

Evaluating the Efficiency and Equity of Federal Fiscal Equalization

Albouy, David - 2010

In theory, federal transfers that make household location decisions efficient should ignore local cost differences, subsidize positive externalities, and offset differences in federal-tax payments and local taxes levied on non-residents, but not local tax revenues from residents. Transfers that...

Persistent link: https://www.econbiz.de/10013141358

Self-Fulfilling Credit Market Freezes

Bebchuk, Lucian A. - 2010

This paper develops a model of a self-fulfilling credit market freeze and uses it to study alternative governmental responses to such a crisis. We study an economy in which operating firms are interdependent, with their success depending on the ability of other operating firms to obtain...

Persistent link: https://www.econbiz.de/10013142939

Efficient Regulation

Shleifer, Andrei - 2010

heavily regulated. It also makes predictions, both across activities and across jurisdictions, for the efficiency of …

Persistent link: https://www.econbiz.de/10013148865

Negative Tests and the Efficiency of Medical Care : What Determines Heterogeneity in Imaging Behavior?

Abaluck, Jason - 2014

We develop a model of the efficiency of medical testing based on rates of negative CT scans for pulmonary embolism. The …

Persistent link: https://www.econbiz.de/10013057408

Tax Benefits to Housing and Inefficiencies in Location and Consumption

Albouy, David - 2014

Tax benefits to owner-occupied housing provide incentives for housing consumption, offsetting weaker disincentives of the property tax. These benefits also help counter the penalty federal taxes impose on households who work in productive high-wage areas, but reinforce incentives to consume...

Persistent link: https://www.econbiz.de/10013060685