Firms' inflexibility in adjusting output prices to input-cost shocks exacerbates information asymmetry between firm insiders and outsiders, but the government's disclosure of economic statistics mitigates this problem. We measure the public visibility of firms' input costs using a combination of...

On 3 December EY hosted a SUERF conference on banking reform with Sir Howard Davies, the Chairman of RBS, and Dame Colette Bowe, the Chairman of the Banking Standards Board, as the two keynote speakers. Professor David Miles (Imperial College) gave the SUERF 2015 Annual Lecture on Capital and...

This article applies the concepts of opportunity cost and utilitarian ethics to corporate bailouts. When one thinks about bailing out a failing or distressed industry it is also necessary to consider alternative uses for the funds. Opportunity cost analysis concludes that the funds used for...