In this Special Comment, we discuss Moody's treatment of Other Comprehensive Income (OCI) components when calculating effective leverage for finance companies. Our purpose is to give issuers and investors insight into Moody's views concerning these sometimes misunderstood or ignored items

This paper provides a coherent framework for classifying cases with multiple tortfeasors in relation to the efficient allocation of liability across the tortfeasors. We construct a simple model in which various tortfeasors contribute to a loss, and consider efficient liability rules under...

This paper examines the relative importance of family socioeconomic status (SES) and school-based peer hierarchies for young people's psychoneuroendocrine response, represented by cortisol level. Data are drawn from a study of 2824, 15-year-olds in 22 Scottish secondary schools in 2006 who...

In the absence of oppression, citizens of a sub-unit who contemplate secession carefully weigh the benefits and costs of different outcomes. Here these costs are shown to be highly variable: they depend on the strategic behavior of each state and on whether cooperative relations would be...