Job Analysis: A Guide for Credentialing Organizations
There are also considerations that relate to how the concept of a job analysis will be received by board members and licensees or certificants. First, it is important to determine [...]
Did Securitization Affect the Cost of Corporate Debt?
This paper investigates whether the securitization of corporate bank loans had an impact on the price of corporate debt. Our results suggest that loan facilities that are subsequently securitized are [...]
Liability Holding Companies
While excessive bank debt can impose overwhelming costs on the broader economy, some contend that there may be some benefits from debt for a firm’s corporate governance. In particular, some [...]
The Patent Litigation Explosion
This Article provides the first look at patent litigation hazards for public firms during the 1980s and 1990s. Litigation is more likely when prospective plaintiffs acquire more patents, when firms [...]
A Spatial Look at Housing Boom and Bust Cycles
This chapter investigates spatial variations in prices over the boom-bust cycle of housing markets both within and across urban areas. It considers the role of a new supply proxy--commuting time--in [...]
The Evolving Importance of Banks and Securities Markets
This paper examines the evolving importance of banks and securities markets during the process of economic development. We find that as countries develop economically, (1) the size of both banks [...]
Securitization without risk transfer
We analyze asset-backed commercial paper conduits which played a central role in the early phase of the financial crisis of 2007-09. We document that commercial banks set up conduits to [...]
Financial Regulation Reform: Politics, Implementation and Alternatives
Anat Admati argues that the banking system is too fragile and inefficient, and that reform efforts have been flawed. The fragility of the system causes booms and busts, and busts [...]
Reforming Occupational Licensing in Alabama
Occupational licensing undermines consumer sovereignty and restricts occupational freedom in Alabama. Professional groups use the goal of protecting consumers from unqualified practitioners as cover to restrict access into the profession [...]
The Direct Costs from NPE Disputes
In the past, “non-practicing entities” (NPEs), popularly known as “patent trolls”, have helped small inventors profit from their inventions. Is this true today or, given the unprecedented levels of NPE [...]