There exists a considerable debate in the literature investigating how stock market upswings or downswings impact financial market regulation. The present paper contributes to this literature and investigates whether financial market regulation follows a regulative cycle: does regulation, and...

Recently, early investments in the human capital of children from socially disadvantaged environments have attracted a great deal of attention. In a discrete version of the Mirrlees model with a parents' and a children's generation we show the intra-generational and the inter-generational...