infonet-economy

The successful acquisition of arithmetic skills is an essential step in the development of mathematical competencies and has been associated with neural activity in the left posterior parietal cortex (PPC). It is unclear, however, whether this brain region plays a causal role in arithmetic skill acquisition and whether arithmetic learning can be modulated by means of non-invasive...

Wenn eine Krise lange dauert, ist es Zeit, sie in einen grösseren Kontext einzuordnen. In den letzten Jahrzehnten hat eine «Finanzialisierung» der Wirtschaft und des ökonomischen Denkens stattgefunden. Sie hat von den produktiven Quellen des Wohlstands, deren Untersuchung den Anfang der modernen Volkswirtschaftslehre markiert, abgelenkt und ein merkantilistisches Denken in...

Any solvency regime for financial institutions should be aligned with the two fundamental objectives of regulation: protecting liability holders and securing the stability of the financial system. From these objectives wederive two normative requirements for capital adequacy tests, called surplus and numeraire invariance, respectively. We characterize capital adequacy tests that...

This study investigates the efficacy of public R&D support. Compared to most existing studies, we do not stop at substitution effects or general innovation outcome measures, but we are interested in knowing where the policy effect is highest: on innovation close to the market (i.e. incremental innovation) or on innovation that is still far from the market and hence more risky and...

Previous organizational research on decoupling in the context of socio-environmental governance has suggested a trade-off between compliance and goal achievement, meaning that remedying the decoupling of policies and practices tends to jeopardize efforts to remedy the decoupling of means and ends. We expand on previous research on the trade-off between compliance and goal achievement...

We introduce in a dynamic–contracting framework with moral hazard the possibility of recapitalization as an alternative to liquidation when a firm is in financial distress. This is achieved by considering a loss–averse agent and by allowing (but not requiring) the latter to inject additional capital into the firm when necessary. We show that firm recapitalization may arise in an...