I identify wage spillovers from the public to the corporate sector with the help of a large public sector wage increase, which raised public sector wages by 40 percent in two years time, changing the average public relative wage from a fallback of 10.5 percent to a 12.5 percent premium. The...

This survey reviews the economic thoughts about what and why do institutional market players lose because of the existing market frictions and particular financial market microstructures compared to walrasian markets. Within a unified microeconomic framework, we introduce the most common...

This survey reviews the economic thoughts about what and why do institutional market players lose because of the existing market frictions and particular financial market microstructures compared to walrasian markets. Within a unified microeconomic framework, we introduce the most common...

Hungarian Abstract: A tőzsdén kereskedett alapok gyors elterjedése és dinamikus növekedése felveti a kérdést, mi áll az egyes kibocsátások sikerének hátterében. A termék speciális szerkezetéből fakadó nyilvánvaló előnyöket megkerülve, ebben a cikkben azt vizsgáltam,...

The paper provides evidence on what affects at the margin the cost and availability of bank credit for firms in Argentina. We study in particular how banks use different pieces of private and public information to screen firms and overcome informational asymmetries in the credit market. Some...

Also published as DFAE-II Working Paper 2002-26 and as an article in: Journal of Economic Dynamics and Control, 2004, vol. 28, issue 11, pages 2297-2325