A sovereign seeking to raise funds in the bond market may choose to issue the debt under either local or foreign parameters. This decision involves a tradeoff between the sovereign retaining discretion in managing the issue on the one hand and relinquishing control of the issue to third parties...

We look for asymmetries in the dynamics of real GDP growth for the G7 countries, using a model by Beaudry and Koop that allows the depth of a recession to influence the rate of growth of output. We find evidence supporting these nonlinearities in four countries, including the United States, but...

The claim that lawyers act as gatekeepers or certifiers in financial transactions is widely discussed in the legal literature. There has, however, been little empirical examination of the claim. In this article, we test the hypothesis that law firms have replaced investment banks as the...

The claim that lawyers act as gatekeepers or certifiers in financial transactions is widely discussed in the legal literature. There has, however, been little empirical examination of the claim. We test the hypothesis that law firms have replaced investment banks as the gatekeepers of the market...