tend not to face higher interest rates because they provide collateral. This paper illustrates these effects in a model and …

Lenders condition future loans on some index of past performance. Typically, banks condition future loans on repayments …

specified regulation(s). Relative to the regulation(s), four conceptual categories that can help frame the analysis are: (A …) regulation applicable and compliant, (B) regulation applicable and non-compliant, (C) regulation non-applicable after adjustment … of activity, and (D) regulation non-applicable to the activity. Rather than use the generic labels 'informal' and 'formal …

formal sector wage premium. The opposite is true for labor market regulation. Finally, we show that the so-called overhiring …

This paper analyzes the effect of labor and product market regulation in a dynamic stochastic equilibrium with search …-and-firing (intensive) margin. We characterize analytically how both margins depend on regulation before we calibrate the model to the US … through firm selection. Finally, the opposite effect of product and labor market regulation on job turnover rationalizes the …

Attempts to curb illegal activity through regulation gets complicated when agents can adapt to circumvent enforcement …. Economic theory suggests that conducting audits on a predictable schedule, and (counter-intuitively) at high frequency, can …