We introduce a new class of matching mechanisms - quantile stable mechanisms - that generate stable matchings that can be seen as a compromise between sides of a two-sided market. We show that responsiveness is a sufficient condition for the existence of such mechanisms and that all such...

I study the aggregate impact of mergers on productivity and markups growth for a sample of 16 European economies. Instrumented with staggered antitrust policy changes and predetermined firm-size distributions, a three-percentage-point increase in an industry's merger rate causes a...

Using an aggregate credit spread index, we find that it has substantial predictive power for corporate bond returns over short and long horizons. The return predictability is economically and statistically significant and robust to various controls. The credit spread index and its components...