This paper investigates bond market development in Asia by exploring the determinants of firms' decisions to issue public debt in a range of Asian economies. Using a novel database covering the period 1995 to 2007, we use comparable micro level panel of nine countries--China, Hong Kong SAR,...

In this paper, we generalise Weil's (1993) model, which is based on hybrid non-expected utility preferences, by allowing for habit formation. We use this generalised model to derive an Euler equation, where current consumption changes depend on lagged changes and labour income risk. We then...

In this paper, the authors provide an empirical analysis of heterogeneity in firms' inventory behavior using a panel of U.K. manufacturing firms. They first investigate how the relative variance of production and sales differs across firms. The authors then use variants of the linear quadratic...