The upsurge of shadow banking is typically driven by rising financing demand from certain
real sectors. In China, the 4 trillion yuan stimulus package in 2009 was behind the rapid …

What are the implications of information technology (IT) in banking for financial stability?
Data on US banks' IT equipment and the background of their executives reveals that higher …

When local governments are small and fragmented, promoting inter‐municipal cooperation
(IMC) among them is seen as a tool to improve the management of public services by …

Pension contributions and health insurance guarantee that people withdraw from the labor
market without falling into poverty and protect individuals and their families against adverse …

Small businesses face major challenges to becoming more innovative. These challenges
are particularly prevalent in emerging economies where high uncertainties are a barrier to …

Abstract Changes in Value-Added Tax (VAT) rebate rates affect exports. This paper shows,
when financially strapped, the timely and efficient allocation of rebates becomes essential …

This paper proposes a novel methodology to estimate the demand and elasticity of
electricity, heating, and private transport fuels by aligning the microdata of the Italian …

How do firms design incentives compatible with environmental protection? The new
institutional economics identifies the challenges of governing common-pool resources and …

This study uses the Becker's (1957) taste-based discrimination model to analyse the effects
of import penetration from China and from the Rest of the World (ROW) on the share of …

Women used to lag behind men in college enrollment but now exceed them. This paper
focuses on the role of non-college job prospects in explaining these trends. We first …