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Malcomson, James - 2003

Incentive contracts for gatekeepers who control patient access to specialist medical services provide too weak … incentives to investigate cost further when expected cost of treatment is greater than benefit. Making gatekeepers residual … claimants with a fixed fee from which treat-ment costs must be met (as with full insurers who are themselves gatekeepers …

Persistent link: https://www.econbiz.de/10010315930

Labour disputes and the game of legal representation

Fraisse, Henri - 2010

This paper explores the prisoner's dilemma that may result when workers and firms are involved in labour disputes and must decide whether to hire a lawyer to be represented at trial. Using a representative data set of labour disputes in the UK and a large population of French unfair dismissal...

Persistent link: https://www.econbiz.de/10010270486

Do Judges Hate Speculators?

Hornuf, Lars - 2019

decision making. We asked 123 professional lawyers and 247 law students in Germany this question, and they clearly predicted … bias. In another sample of 170 professional lawyers, we found weak support for an anti-speculator bias. This evidence … that a communication problem exists between lawyers and non-lawyers (i.e. between judges and the general public), we find …

Persistent link: https://www.econbiz.de/10012892211

Legislation, Regulation and Litigation: Demand for U.S. Legal Services in Historical Perspective

Reshef, Ariell; Slattery, Cailin - 2025

during 1850–1970 and after 1990. The relative wage of lawyers and law firm partners also doubled between 1970 and 1990. We … with this, we find that employment and compensation of lawyers are tightly correlated with federal regulation, fee …-level analysis. Other factors, e.g., changes in lawyers' quality, industrial composition and technology are not important …

Persistent link: https://www.econbiz.de/10015339533

Cultural Stereotypes of Multinational Banks

Eichengreen, Barry; Saka, Orkun - 2022

Using hand-collected data spanning more than a decade on European banks' sovereign debt portfolios, we show that the trust of residents of a bank's countries of operation in the residents of a potential target country of investment has a positive, statistically significant, and economically...

Persistent link: https://www.econbiz.de/10014290033

Bank Regulation and Sovereign Risk: A Paradox

Afonso, António; Teixeira, André - 2023

This paper investigates the impact of banking prudential regulation on sovereign risk. We show that prudential regulation reduces sovereign risk and induces governments to spend more. As a result, countries with tight prudential regulation have lower primary budget balances and accumulate more...

Persistent link: https://www.econbiz.de/10014377409

Conservation by Lending

Harstad, Bård; Storesletten, Kjetil - 2023

This project analyzes how a principal can motivate an agent to conserve rather than exploit a depletable resource. This dynamic problem is relevant for tropical deforestation as well as for other environmental problems. It is shown that the smaller is the agent's discount factor (e.g., because...

Persistent link: https://www.econbiz.de/10014377507

Banks' Portfolio of Government Debt and Sovereign Risk

Afonso, António; Alves, José; Monteiro, Sofia - 2023

We analyze domestic, foreign, and central banks holdings of public debt for 31 countries for the period of 1989-2022, applying panel regressions and quantile analysis. We conclude that an increase in sovereign risk raises the share of domestic banks' portfolio of public debt and reduces the...

Persistent link: https://www.econbiz.de/10014469694

The Greek Debt Restructuring: An Autopsy

Zettelmeyer, Jeromin; Trebesch, Christoph; Gulati, Mitu - 2013

The Greek debt restructuring of 2012 stands out in the history of sovereign defaults. It achieved very large debt relief - over 50 per cent of 2012 GDP - with minimal financial disruption, using a combination of new legal techniques, exceptionally large cash incentives, and official sector...

Persistent link: https://www.econbiz.de/10010318808

Credibility for Sale

Dellas, Harris; Niepelt, Dirk - 2013

We develop a sovereign debt model with official and private creditors where default risk depends on both the level and the composition of liabilities. Higher exposure to official lenders improves incentives to repay but carries extra costs, such as reduced ex-post flexibility. The model implies...

Persistent link: https://www.econbiz.de/10010318813