The high costs of disclosing confidential information lead firms with proprietary information to prefer private debt (bank loan) to public debt (corporate bond). We provide empirical evidence supporting this proposition using the staggered adoption of the inevitable disclosure doctrine (IDD) by...

Airfares vary across the booking horizon according to intertemporal price discrimination and adjustment of fares in response to stochastic demand shocks. Previous works studying these economic forces abstract away from the ramifications of pricing an itinerary has on revenue and consumer welfare...

The paper discusses optimal carbon taxation in an analytic quantitative integrated assessment model (IAM). The model links IAM components and parametric assumptions directly to their policy impacts. The paper discusses the distinct tax impact of carbon versus temperature dynamics and uses the...

This research paper ponders upon the impact of a global health economic crisis in the emerging economies i.e. Indian and Chinese economy. The word ‘price’ applied in this research paper is not to analyse the monetary loss but also to highlight the physiological loss which cannot be measured...

Clubhouse is the new social networking app that was first launched in April 2020. Envisioned as a live streaming audio chat without the familiar nuisance of video calls, text messaging or monetization options, it started positioning itself as an “alternative” social network and quickly...

This paper presents a new approach that quantifies how a credit rating agency and investors judge the effects of collateral and various covenants on syndicated loan risk. It addresses firms’ self-selection of these contract terms by analyzing how a loan’s collateral and covenants affect: 1)...

It may be advantageous to provide a variety of kinds of patent protection to heterogenous innovations. Innovations which benefit society largely through their use as building blocks to future inventions may require a different scope of protection in order to be encouraged. We model the problem...

On the eve of a major change in the world monetary system, the adoption of a single currency in Europe, our theoretical understanding of the implications of the exchange rate regime for trade and capital flows is still limited. We argue that two key model ingredients are essential to address...

We develop a modified understand better the 1994 Mexican peso crisis as well as aspects of the European currency crises in 1992-93. We introduce the assumption that the speculative attack is sterilized by the domestic monetary authority, we incorporate a stochastic risk premium, and we allow for...