; trading strategy ; profitability of recommendations … recommendation profitability (Loh and Mian (2006)). Differentiating between "able" and "lucky" analysts we suggest an implementable …, i.e. look-ahead bias free, trading strategy that yields annual excess returns of 11.5% before transactions costs during …

In the present paper we explicitly introduce interest payments and debt into a Kaleckian distribution and growth model … with an investment function very close to Kalecki's original writings. The effects of interest rate variations on the short … the equilibrium debt-capital-ratio are also analysed. It is shown, that the effects of interest variations on the …

We provide evidence of an inherent trade-off between access regulation and investment incentives in telecommunications … accommodates: different investment incentives for incumbents and entrants; a strategic interaction of entrants' and incumbents … investment. Thus promoting market entry by means of regulated access undermines incentives to invest in facilities …