State board sanctions do not appear to be a crucial tool for identifying negligent or incompetent physicians. Medical malpractice underwriters know substantially more about physicians at any point in time [...]
I use the neo-classical growth model to study financial intermediation in the U.S. over the past 130 years. I measure the cost of financial intermediation on the one hand, and [...]
Among the market characteristics, only generic competition is significantly related with price, and only in the random effects model. Generic competition reduces price, as expected, but by well less than [...]
This paper argues that the U.S. bankruptcy reform of 2005 played an important role in the mortgage crisis and the current recession. When debtors file for bankruptcy, credit card debt [...]
This paper studies whether compliance with the Basel Core Principles for effective banking supervision (BCPs) is associated with bank soundness. Using data for over 3000 banks in 86 countries, we [...]
Neither population size nor density appear to negatively impact American QOL in modern times: it appears that urbanization’s amenities largely compensate for its disamenities. Thus, there is no reason to [...]
During the financial crisis that started in 2007, the U.S. government has used a variety of tools to try to rehabilitate the U.S. banking industry. Many of those strategies were [...]
More than 40 years ago, Sen. William Proxmire (D-WI) guided the Fair Credit Reporting Act (FCRA) through Congress, seeking to improve the operations of the credit reporting industry. The complexities [...]
Why do firms in some industries ignore patents when developing new products? This paper posits a simple answer to this long puzzling question: firms ignore patents because they are unable [...]
In a sample covering more than 300 cities in the US from January 2000 to July 2009, we find that more restrictive residential land use regulations and geographic land constraints [...]