Given the wide use of childcare subsidies across countries, it is surprising how little we know about the effect of these subsidies on children's longer run outcomes. Using a sharp discontinuity in the price of childcare in Norway, we are able to isolate the effects of childcare subsidies on...

[...]This paper examines some of the potential consequences ofGLB for the structure of the U.S. financial services industry. Init, we ask how the industry may evolve as this new legislationinteracts with the consolidation trend already under way, whattypes of mergers are most likely to occur,...

[...]Our analysis suggests that much of the efficiencyimprovement brought about by branching was attributable to a selection process whereby better performing banksexpanded at the expense of poorer performers. It appears thatthe branching restrictions acted as a ceiling on the size...

[...]In this article, we explore the relationship betweenfranchise value and risk taking over the 1986-94 period.We extend Keeley’s empirical analysis by estimating theeffect of franchise value on a variety of measures of bankrisk. We find an inverse relationship between franchisevalue and an...

[...]This article investigates the relationshipbetween asset size and risk at bank holding companiesfrom 1987 to 1993.1 We find that for most of thisperiod, the level of risk at large bank holding companiesdid not differ significantly from that at small bankholding companies. However, we do find...