The wide range and the frequently renewed formulation of strategies and organization models of corporate banking highlight a) the absence of both an established theoretical framework and a dominant model, b) the huge risk of misalignment of strategy, market policies, macro/micro and hard/soft...

We use a stylized model to show that, if transfers to the poor are founded on a security argument, there is a negative trade-off between law enforcement expenditures and criminality. In contrast, if transfers are based on altruism, the correlation between the same variables may appear positive....

Empirical work on price-cost margins often treats costs as exogenous. Allowing for endogenous costs when estimating price-cost margins is the topic of this paper. Methodologically, the endogenous cost model we propose leads to an additional equation that allows for the simultaneity in price...