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Inefficiency and regulation in credence goods markets with altruistic experts

Farukh, Razi; Kerkhof, Anna; Loebbing, Jonas - 2020

We study a credence goods problem - that is, a moral hazard problem with non-contractible outcome - where altruistic experts (the agents) care both about their income and the utility of consumers (the principals). Experts' preferences over income and their consumers' utility are convex, such...

Persistent link: https://www.econbiz.de/10012431181

Consumer Use and Government Regulation of Title Pledge Lending

Zywicki, Todd J. - 2010

Recent years have seen growth in the use of certain types of nontraditional lending products, such as payday lending and auto title lending, and a relative decline of others, such as finance companies and pawnbrokers. Congress is currently considering major new regulations on short-term lending...

Persistent link: https://www.econbiz.de/10013147462

Complaints Handling by the Regulators of Insolvency Practitioners : A Comparative Study

Seneviratne, Mary; Walters, Adrian - 2012

This paper is a follow up study commissioned by the UK Insolvency Practices Council which builds on our earlier study of complaints handling and disciplinary systems in the UK insolvency practitioner profession: see http://ssrn.com/abstract=1094757. For this study we compared the complaints...

Persistent link: https://www.econbiz.de/10014212390

The impact of bankruptcy reform on insolvency choice and consumer credit

Allen, Jason; Basiri, Kiana - 2016

We examine the impact of the 2009 amendments to the Canadian Bankruptcy and Insolvency Act on insolvency decisions …

Persistent link: https://www.econbiz.de/10011477142

Bankruptcies in 2012-2013 : Growth in the Number of Bankruptcies of Financial Institutions and Individual Entrepreneurs and the Introduction of New Regulations

Apevalova, Elena - 2015

This paper deals with the issues of bankruptcy of financial institutions and individual businesses …

Persistent link: https://www.econbiz.de/10013012682

Bankruptcies in 2009–2011 : Post-Crisis Dynamics; New Trends; Regulation

Apevalova, Elena - 2015

This paper deals with the issues of bankruptcy in the aftermath of 2008 financial crisis …

Persistent link: https://www.econbiz.de/10013012683

Labor Market Upheaval, Default Regulations, and Consumer Debt

Athreya, Kartik B. - 2014

In 2005, reforms made formal personal bankruptcy much more costly. Shortly after, the US began to experience its most … severe recession in seventy years, and while personal bankruptcy rates rose, they rose only modestly given the severity of … unsecured debt seen in the past three decades. We measure the relative roles of recent bankruptcy reform and labor market risk …

Persistent link: https://www.econbiz.de/10013059435

Allocating losses: bail-ins, bailouts and bank regulation

Keister, Todd; Mitkov, Yuliyan - 2020

We study the interaction between a government's bailout policy and banks' willingness to impose losses on (or \bail in") their investors. The government has limited commitment and may choose to bail out banks facing large losses. The anticipation of this bailout undermines a bank's private...

Persistent link: https://www.econbiz.de/10012418049

Regulating deferred incentive pay

Hoffmann, Florian; Inderst, Roman; Opp, Marcus M. - 2015

Our paper evaluates recent regulatory proposals mandating the deferral of bonus payments and claw-back clauses in the financial sector. We study a broadly applicable principal agent setting, in which the agent exerts effort for an immediately observable task (acquisition) and a task for which...

Persistent link: https://www.econbiz.de/10010518015

The Global Crisis : Why Regulators Resist Reforms

Goodstadt, Leo F. - 2009

An Anglo-American regulatory ‘culture’ became associated with 30 years of worldwide economic reforms, global growth and monetary stability. American and British officials identified major sources of instability in their own financial markets before 2007 but remained non-interventionist,...

Persistent link: https://www.econbiz.de/10014200319