Directory UMM :Data Elmu:jurnal:I:International Review of Law and Economics:Vol20.Issue2.Jun2000:
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When the liability rule cannot depend on care choices and the liability limit is in a plausible range—neither too tight nor too loose relative to expected accident damages—an
We will demonstrate that the maximum ODE-stable set is characterized by the combination of the following three conditions: (1) the autoregressive coefficient matrix in the
Lehn and Poulsen (1991), commenting on Crabbe’s results, identify this bias as they state, “unfortunately, these are conservative estimates since the presence of event-risk cove-
This article uses long-term cross-country data to examine the Fisher hypothesis that nominal interest rates respond point-for-point to changes in the expected inflation rate..
Accord- ingly, in this plausible case, where the expected return on high-risk loans declines more rapidly with aggregate loan volume than does the equilibrium return on low- risk
We show that (1) joint ownership can be superior to the other ownership structures by overcoming vertical externality of double marginalization; (2) collusive outcomes, however,
The focus of this paper however is to examine the structure of the relationship in the short term interest rates, in a fixed exchange rate regime and as in the current case where
Taking the loan market setting with asymmetric information as a micro-foundation for investment, this paper further develops a macro model of a small open economy under the regime
