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 …

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

efficiency of collaboration and the credit allocation that arises after the completion of collaborative work. In this paper, we …

-level productivity. We also examine whether M&As increase efficiency through reallocation of production to more efficient plants or …

result in cost savings of $5.7 billion in 2011 and that the gain in economic efficiency from more closely aligning bus fares …