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on the efficiency of resource allocation. Our results suggest that there is an economically and statistically robust …, stringent regulations are more disruptive to resource allocation in more innovative sectors, though the nature of innovation …
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Banking regulators often practice forbearance and ambiguity in insolvency resolutions. The paper examines the effects of regulatory forbearance and ambiguity in a context of allocational efficiency. Bailouts, liquidations and their stochastic policy mix lead to suboptimal allocations if banks do...
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gains, and the contribution of efficient resource allocation to this process. Realising the growth opportunities implied by …, which hinder the allocation of new ideas to where they can be developed most efficiently. While a number of policy …
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