This paper compares the optimal investor repayment contracts of a firm which has private information over its expost revenues when the finance can be provided by a single or by two investors (say a big shareholder and a group of small dispersed shareholders). Costly monitoring can be carried out...

This paper uses monthly survey data to derive short and long run expected inflation time series. This data is then combined with time series of the risk premia on the bonds and the variance of future inflation. We find not maturity effect but remarkable consistency across bonds in the effects of...

This paper attempts to examine the characteristics of the quarterly EEC consumer anticipations survey for inflation in the U.K. Using a variant of Pesaran’s approach, we investigate whether the survey data satisfies certain reasonable postulates mainly arising from the assumption of...

We use a simple Lotka-Volterra model of the disease transmission process to analyse the dynamic population structure in two scenarios. Firstly a vaccine is available\ on the market at a constant price through time. Secondly, the vaccine is publicly provided. The vaccine works either by giving...

This paper analyses labour force participation and precautionary savings in the presence of risks of being fired or failing to secure a job offer when out of the labour market. We use a finite horizon framework with two employment states and a stage utility function which is CARA in consumption...

In a costly state verification model under commitment the principal may acquire a costly public and imperfectly revealing signal before or after contracting. If the project remains profitable after all signal realisations, optimally the signal is collected, if at all, after contracting, and it...