Information goods providers adopt the freemium model to increase their user base and maximize their profits. However, a serious piracy problem cannibalizes the demand for legal goods and deeply harms firms' interests. We investigate the optimal pricing of information goods under the freemium...

Off-balance-sheet (OBS) activities are special means of credit expansion of commercial banks, which can affect banks' assets allocation decisions, loans supplies, and the bank lending channel of monetary policy transmission. This paper analyses the impact of OBS activities on banks' asset...