I combine two previously separate strands of the bargaining literature to present a bargaining model with both one-sided private information and a majority vote for proposals to go into effect. I use this model to show that the US bankruptcy code produces shorter delays and higher welfare than...

Using a panel of 23 industrialised countries, the paper investigates how short-run and long-run income risks are shared and how the source of uncertainty matters for the way this risk gets insured. Surprisingly, short-term and long-term output risks are found to be equally well insured....

This paper presents non-parametric microeconomic evidence on stores’ price setting behavior and evaluates the findings in light of theories of nominal price rigidity. The main issues include the durability of price quotations, the size, the frequency and the across-store and within-store...