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Manaresi, Francesco - 2018

We study the impact of bank credit supply on firm output and productivity. Exploiting a matched firm-bank database, covering all credit relationships of Italian corporations over more than a decade, we measure idiosyncratic supply-side shocks to firm credit availability. With this, we estimate a...

Persistent link: https://www.econbiz.de/10012934813

Interpreting Contracts via Surveys and Experiments

Ben-Shahar, Omri - 2018

Interpreting the language of contracts is the most common and least satisfactory task courts perform in contract disputes. This article proposes to take much of this task out of the hands of lawyers and judges, entrusting it instead to the public. The article develops and tests a novel regime...

Persistent link: https://www.econbiz.de/10012934822

Learning and the Law : Improving Behavioral Regulation from an International and Comparative Perspective

Dimitropoulos, Georgios - 2018

learning theory in decision making contexts have so far been neglected by scholarship in Law and Economics as well as … cognitive psychology, behavioral game theory and organizational science to show that there are vast effectiveness and efficiency … gains to be made from an integration of learning theory into regulatory and private law contexts. Interdisciplinary learning …

Persistent link: https://www.econbiz.de/10012934826

A Reassessment of the Finance & Growth Nexus Using Monte Carlo Evidence

Franz, Thorsten - 2018

The small sample performance of system Generalized Method of Moments (GMM) and an alternative Transformed Maximum Likelihood (TML) estimator is investigated in Monte Carlo simulations, implementing a data generating process that tracks important features inherent in dynamic panels used in...

Persistent link: https://www.econbiz.de/10012934827

Heterogeneous Treatment Effects in the Presence of Self-Selection : A Propensity Score Perspective

Zhou, Xiang - 2018

An essential feature common to all empirical social research is variability across units of analysis. Individuals differ not only in background characteristics, but also in how they respond to a particular treatment, intervention, or stimulation. Moreover, individuals may self-select into...

Persistent link: https://www.econbiz.de/10012934830

Revisions in Fund Flows and Market Reputation Estimates within Venture Capital Markets

Obrimah, Oghenovo A. - 2018

This study examines the extent to which reputation constructs proposed in NAH (Nahata 2008) or OBH (Obrimah 2016a) exhibit uniqueness properties expected to be characteristic of reputation constructs. Empirical results provide evidence of concave (non-unique) relations between reputation...

Persistent link: https://www.econbiz.de/10012934831

Honesty Via Choice-Matching

Cvitanic, Jaksa - 2018

We introduce choice-matching, a class of mechanisms for eliciting honest responses to a multiplechoice question (MCQ), as might appear in a market research study, opinion poll or economicsexperiment. Under choice-matching, respondents are compensated through an auxiliary task, e.g.,a personal...

Persistent link: https://www.econbiz.de/10012934832

The Weight of the Median Voter Ageing on Public Debt

Dautović, Ernest - 2018

This paper studies the relationship between an ageing society and voter preference for financing public expenditures with debt versus income taxation. We focus on advanced economies and OECD members where ageing is relatively severe, the political process is more democratic, and economic...

Persistent link: https://www.econbiz.de/10012934836

Competition and Piracy

Day, Gregory - 2018

Intellectual property (IP) infringement has been characterized by over two hundred years of judicial opinions and scholarly writings as an antisocial behavior akin to theft and trespassing. Modern IP laws are faithful to this approach, punishing those who willfully infringe upon patent rights...

Persistent link: https://www.econbiz.de/10012934840

Global Systemic Risk and International Regulatory Coordination : Squaring Sovereignty and Financial Stability

Lupo-Pasini, Federico - 2018

In recent years much attention has been given to systemic risk and maintaining financial stability. Much of the focus, rightly, has been on market failures and the role of regulation in addressing them. This article looks at the role of domestic policies and government actions as sources of...

Persistent link: https://www.econbiz.de/10012934852