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Informality and Development
(American Economic Association, 2014)
We establish five facts about the informal economy in developing countries. First, it is huge, reaching about half of the total in the poorest countries. Second, it has extremely low productivity compared to the formal ...
The governance and performance of universities: evidence from Europe and the US
(Wiley-Blackwell, 2010)
We test the hypothesis that universities are more productive when they are both more autonomous and face more competition. Using survey data, we construct indices of university autonomy and competition for both Europe and ...
Inequality and Economic Growth: The Perspective of the New Growth Theories
(American Economic Association, 1999)
We analyze the relationship between inequality and economic growth from two directions. The first part of the survey examines the effect of inequality on growth, showing that when capital markets are imperfect, there is ...
Credit Constraints and the Cyclicality of R&D Investment: Evidence from France
(Wiley-Blackwell, 2012)
We use a French firm-level data set containing 13,000 firms over the period 1994–2004 to analyze the relationship between credit constraints and firms’ R&D behavior over the business cycle. Our main results can be summarized ...
Contagious bank failures in a free banking system
(Elsevier BV, 2000)
This paper develops a model of an unregulated banking system based around a private clearing house arrangement. Whilst such a system may dominate one with a public safety net in reducing moral hazard in lending and therefore ...
What Can Labor Organizations Do for US Workers When They Can't Do What Unions Used to Do?
(Russell Sage Press, 2014)
The traditional union model of organizing workers through representation elections and bargaining with management for higher wages and benefits is in trend decline in the US. Private sector union density has plummeted while ...
Renegotiation Design with Unverifiable Information
(The Econometric Society, 1994)
This paper considers a buyer-seller relationship with observable but unverifiable investments and/or random utility parameters. In such situations, it is known that contract renegotiation may prevent the implementation of ...
Emergency Department Profits Are Likely To Continue As The Affordable Care Act Expands Coverage
(Health Affairs (Project Hope), 2014)
To better understand the financial viability of hospital emergency departments (EDs), we created national estimates of the cost to hospitals of providing ED care and the associated hospital revenue using hospital financial ...
Meaningful use: Floor or ceiling?
(Elsevier BV, 2014)
Background: In 2011, federal incentive payments for meaningful use of electronic health records (EHRs) began. This study evaluates the impact of the program on hospitals and EHR vendors, identifying how it affects EHR ...
Costs and Benefits to Phasing Out Paper Currency
(University of Chicago Press, 2014)
Despite advances in transactions technologies, paper currency still constitutes a notable percentage of the money supply in most countries. For example, it constitutes roughly 10% of the US Federal Reserve’s main monetary ...