This paper studies the dynamic properties of the labour demand model with non-convex adjustment costs proposed by Bentolila and Bertola [1990]. With this model we evaluate the importance of the firing costs, following a great shock, for the dynamics of adjustment of the aggregated labour demand...

In the United States credit unions are not-for-profit cooperative financial institutions, owned by and operated for the benefit of their members. Being part of a cooperative movement enhances the likelihood that credit unions will share performance-enhancing ideas, for the benefit of weak credit...

The dramatic rise in bank failures over the last decade has led to a search for leading indicators so that costly bailouts might be avoided. While the quality of a bank's management is generally acknowledged to be a key contributor to institutional collapse, it is usually excluded from...

Technical efficiency measure can be classified as either radial or nonradial. While the theoretical question of which is the better type of measure is unresolved, the radial measures enjoy much greater popularity than the nonradial measures in the empirical literature. To assess the impact of...