Will Problems Arise When Banks are Exempted from Thin Capitalization Regulation?

To What Extent Vital Signs Are Important to Medical Toxicologists When Conflicts Arise in Defining Toxidroms

When comparisons arise.

People acquire information about their abilities by comparison, and research suggests that people restrict such comparisons to those whom they consider sources of diagnostic information. We suggest that diagnosticity is often considered only after comparisons are made and that people do not fail to make nondiagnostic comparisons so much as they mentally undo them. In 2 studies, participants mad...

Are Home Buyers Myopic? Evidence From Capitalization of Energy Costs

This paper explores whether home buyers are myopic about future energy costs. I exploit variation in energy costs in the form of fuel price changes in Massachusetts where there is significant overlap in the geographic and age distributions of oil-heated homes and gas-heated homes. I find that relative fuel price shifts cause relative changes in housing transaction prices that are consistent wit...

Are Home Buyers Inattentive? Evidence From Capitalization of Energy Costs

This paper explores whether home buyers are inattentive to future energy costs. I exploit variation in energy costs in the form of fuel price changes in Massachusetts where there is significant overlap in the geographic and age distributions of oil-heated and gas-heated homes. I find that relative fuel price shifts cause relative changes in housing transaction prices consistent with full capita...

Are Banks Different ? Evidence from International Data

Pecking order models of international finance suggest that countries should become less reliant on international bank lending as they develop. Reduced information costs are one of the factors behind this trend towards disintermediation. This paper presents a simple model on the choice between bank debt and bond finance which builds on Rajan (1992), and it uses two new datasets to test the impli...