Beliefs about the arrival time of a vaccine have a large effect on optimal social distancing in an SIR model, though the relationship is complex. A higher mean vaccine arrival time can increase or decrease optimal distancing depending on assumptions. We analytically demonstrate two channels that...

Money laundering is the process of moving proceeds from illicit activities into the legal economy. We develop a monopolistic competition model incorporating a criminal enterprise which chooses between laundering through offshore financial investments or by acquiring legitimate establishments,...

Proceeds from illicit activities percolate into the legal economy through several channels. We exploit international regulations targeting money laundering via the financial sector to identify the flows of “dirty money” into legitimate establishments: business-based money laundering (BBML)....

Proceeds from illicit activities percolate into the legal economy through several channels. We exploit international regulations targeting money laundering via the financial sector to identify the flows of “dirty money” into legitimate establishments: business-based money laundering (BBML)....

Firms file for reorganization bankruptcy (Chapter 11) to restructure, not only debt, but also, labor contracts. In this environment, pro-creditor bankruptcy reforms face a trade-off: they increase recovery values of successful reorganizations but suffocate managers' incentives to restructure...

Proceeds from illicit activities percolate into the legal economy through several channels. We exploit international regulations targeting money laundering via the financial sector to identify the flows of “dirty money” into legitimate establishments: business-based money laundering...