In order to improve transparency and stabilise health care costs, several countries have decided to reform their healthcare system on the basis of diagnosis-related groups (DRG). DRGs are not only used for classifying medical treatments, but also for case-based reimbursement, hence induce active...

How do powerful unions affect firms' debt maturity structure? I find that firms increase the fraction of long term debt as a response to unionization while keeping their leverage ratio unchanged. Using a regression discontinuity design I estimate that unionized firms increase by 25% the fraction...