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We test in a European context the impact of countries' lending infrastructure on SMEs (small and medium sized … enterprises) capital structure. Devised from Berger and Udell (2006), this infrastructure is comprised of the information, legal …, judicial, bankruptcy, social, tax and regulatory environments. We find that SME debt is higher in countries with more efficient …
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Internal Market for Electricity Better than Total Welfare -- Part II Investment in Infrastructure -- Bruce R. Huber, Paying for … Infrastructure: The Case of Estonia, the Netherlands and Norway …
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This paper investigates the role that idiosyncratic uncertainty plays in shaping social preferences over the degree of labor market flexibility, in a general equilibrium model of dynamic labor demand where the productivity of firms evolves over time as a Geometric Brownian motion. A key result...
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