This paper analyzes the investment decisions of insured banks under fixed-rate deposit insurance. The model takes into account the charter value and allows banks to dynamically revise their asset portfolios. Trade-offs exist between preserving the charter and exploiting deposit insurance. The optimal bank portfolio problem is solved analytically for a constant charter value. In any audit period...

Charter schools, vouchers, and contracts with private agencies providing educational services all reflect the belief that a substantial part of educational budgeting, decision making, and accountability should be based at the level of individual schools, rather than at the school district level. Though states are moving quickly to set up charter schools, and some states and districts are debati...

The following letters from the readers of Annals represent just the kind of debate about professional ethics we had hoped the physician charter would engender. Seven members of the Medical Professionalism Project have responded accordingly. Although we could not hope to address every issue raised, one does seem salient throughout: the apparent conflict between a patient-centered ethic of care a...

The Incorporation Charter for the city of Krakow, the former capital of Poland, is one of the most valuable documents stored in the National Archives in Krakow. The document, which was written in 1257 on parchment, grants Krakow the Magdeburg rights and regulates its legal, statutory, economic and settlement-related aspects. The Charter was placed in the National Register of the Memory of the W...

Charter schools that provide nonclassroom-based (NCB) instruction have represented a rapidly proliferating segment in the charter school movement in California over the past decade. Nonclassroom-based charter schools differ from traditional charter schools in that they deliver instruction outside the confines of the classroom setting. Nonclassroom-based instruction encompasses home-schooling an...

Direct-to-consumer advertising (DTCA) of prescription drugs is an increasingly contentious issue in Canada. Under the Food and Drugs Act, the pharmaceutical industry is limited to advertising prescription medications to medical intermediaries such as doctors and pharmacists. Straightforward advertising directly to the public is proscribed, with such advertisements limited to describing either t...

This paper proposes a double-sided flexibility in adjusting the lease price as an alternative, more accessible tool for managing revenues or controlling costs in volatile markets. The double-sided flexibility addresses the dilemma of allowing only one party of a lease contract to have the price adjustment flexibility while both parties want it. Although the proposed clause grants both contract ...