Financial crises in emerging market economies induce diverging patterns of ownership stakes and subsequent divestiture rates among domestic and foreign acquirers. We rationalize these empirical findings in a tractable model where domestic acquirers are sub ...
The policy response to the recent financial crisis has broadly focused on two themes: 1) Increasing the banking sectorsâ resilience to future financial shocks: 2) Improving credit availability to households and firms via lowering both short and long-term ...
We develop a revealed preference approach to elicit science and engineering PhDs’ preferences over employment outcomes, exploiting cohort size variations. Depending on whether pecuniary and non-pecuniary rewards are sticky or not, increments in the PhDs’ c ...
Social and spatial mobility is a key value of late modern societies. Necessity to move is linked to flexibility needs of the labour force and more generally is supposed to be a necessary condition for career success. Consequently, increasing numbers of per ...
What are the social impacts of a new, less efficient public transport system in a city that is known for its inequality concerning access to daily activities and participation in urban life? More precisely, what are the implications of a re-regulated trans ...
