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that CRAs continue to progress in how they comply with the CRA Regulation, including improved internal transparency and … the amended CRA Regulation in June 2013, ESMA will also complete a specific assessment on CRAs’ compliance with the new …
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Societies provide institutions that are costly to use, but able to enforce long-run relationships. We study the optimal decision problem of using self-governance for risk sharing or governance through enforcement provided by these institutions. Third-party enforcement is modelled as a costly...
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Some regulation is needed to enhance growth and economic welfare, but too much undermines productivity. Generally, the …
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