This paper assesses an economy's default risk on its international debt by considering different approaches,prevalent in the literature. Unlike in multi-country studies,these data comprise reported loans to one economy only-This is useful since the country's macroeconomic development is the...

The socio-economic situation of the Arab-Bedouin population in the Negev is examined in light of the general Israeli Arab population. Based on the Galilee Society's social survey for 2004 Israeli Arab poverty incidence was found to be 52% with nearly two thirds in persistent poverty. Among...

How do firms respond to consumers' time inconsistency? This paper studies the optimal design of nonexclusive contracts under competition. It shows that nonexclusivity creates a stark asymmetry between immediate-costs goods and immediate-rewards goods. For immediate-cost goods nonexclusivity does...

The World financial turmoil,that beset emerging economies during much of 1997 and culminated after the Russian crisis in the second half of 1998,presents an interesting test case for economic policy in an open economy.Israel's policy response was radical,and -with the benefit of hindsight...

This paper considers the problem of a risk-neutral firm offering a gamble to consumers with preferences given by prospect theory. Under conditions satisfied by virtually all functional forms used in the literature, firms can extract arbitrarily high expected values from consumers. Moreover, for...

This paper documents and explains the existence of grade non-disclosure policies in Masters in Business Administration programs, why these policies are concentrated in highly-ranked programs, and why these policies are not prevalent in most other professional degree programs. Related policies,...

Life insurance is a large yet poorly understood industry. A final death benefit is not paid for a majority of policies. Insurers make money on customers that lapse their policies and lose money on customers that keep their coverage. Policy loads are inverted relative to the dynamic pattern...