We test the implications of Flannery's (1986) and Diamond's (1991) models concerning the effects of risk and asymmetric information in determining debt maturity, and we examine the overall importance of informational asymmetries in debt maturity choices. We employ data on over 6,000 commercial...

This study tests for the presence of real options effects induced by uncertainty and (partial) irreversibility on fixed capital investment using Italian company data. The approach recognizes that firm-level investment spending may, itself, be aggregated over multiple investment decisions in...

In this paper, we derive the distribution of life length of a parallel system with random number of components when the life distribution of each component follows a Weibull distribution and the number of components follows a Poisson distribution truncated at zero. For two independent such...

As will become apparent in the assessments, Norway’s membership in the European Statistical System shapes Norwegian official statistics and statistical policy in a number of ways. Norway produces and disseminates a significant share of its data consistent with the legal requirements of...

This data module of the Report on the Observance of Standards and Codes (ROSC) contains a summary assessment of dissemination practices in Ecuador relative to the IMF’s Special Data Dissemination Standard (SDDS). It also presents an assessment of data quality for national accounts,...

We propose a coherent unified approach to the study of the linkages among economic growth, financial structure, and inequality, bringing together disparate theoretical and empirical literature. That is, we show how to conduct model-based quantitative research on transitional paths. With...

The MBA degree has captured public attention since the beginning of the 20th century when MBA programs were first established in the United States. Since then, hardly any master’s-level degree created as many media impressions as the MBA. Extensive research has been conducted about MBA...

The paper investigates the existence of "super pro-poor" policies-that is, policies that directly influence the income of the poor after accounting for the effect of growth. It uses a dynamic panel estimator to capture both across- and within-country effects, and a Bayesian-type robustness check...