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With the increased demands of state and local governments, economists have been addressing a number of new research questions for example; new tradeoffs in taxation, the changing roles of supplying public goods in a federal ...

The economic reforms in Tanzania and Vietnam represent the two typical cases of transition economies in Asia and Africa, particularrly the transformation of the two developing economies from the planned to the market ...

This paper provides a Bayesian test of parameter nonstationarity and an estimation procedure for the detection of change points in the time series of stock returns. The empirical results indicate that this procedure can ...

The Kresge Business Administration Library at the University of Michigan’s Ross School of Business has long been recognized for delivering exceptional service. Despite this success, there were many missed opportunities ...

The first chapter analyzes both the disposition effect and trading performance at the individual level to determine whether and how investors learn from their trading experience. The study finds that performance improves ...

We focus on the conflict between two central bank objectives, namely individual bank stability and systemic stability. We study the licensing policy of the Central Bank of Russia (CBR) in 1999-2002. Banks in poorly banked ...

The rapidly growing literature studying the relationship between legal origin, investor protection, and finance has stimulated an important debate in academic circles. It has also generated a number of applied research ...

Thus most early American manufacturing firms existed as a partnership (formal or informal) between technically knowledgeable factory owners or managers on the one hand, and mercantile capitalists on the other. Sometimes ...