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Journal Article
Research spotlight: Ties that bind
Sablik, Timothy (2011-07)
Related links: https://www.richmondfed.org/-/media/richmondfedorg/publications/research/econ_focus/2011/q3/research_spotlight_weblinks.cfm
Econ Focus , Volume 15 , Issue 3Q , Pages 11

Working Paper
Outsourcing business service and the scope of local markets
Ono, Yukako (2001)
This paper examines outsourcing to test whether productivity-enhancing specialization is facilitated in bigger cities. First, the paper provides a theoretical model which shows that greater local demand for a given input promotes the entry of suppliers into a city; the increased number of suppliers then results in lower outsourcing prices and a higher use of outsourcing by final producers, therefore reducing the final producers' production costs. I then test the predictions of the model by examining manufacturing plants' practices of outsourcing business services, by using plant-level data ...
Working Paper Series , Paper WP-01-09

Conference Paper
Social capital and the cost of business loan contracting
Uzzi, Brian; Lancaster, Ryon (2001)
Proceedings , Paper 792

Working Paper
Courts and contractual innovation: a preliminary analysis
Leitner, Yaron; Berlin, Mitchell (2005)
The authors explore a model in which agents enter into a contract but are uncertain about how a judge will enforce it. The judge can consider a wide range of evidence, or instead, use a rule-based method of judgment that relies on limited information. The authors focus on the following tradeoff: Considering a wide range of evidence increases the likelihood of a correct ruling in the case at hand but undermines the formation of precedents that resolve legal uncertainty for subsequent agents. ; In a model of contractual innovation, they show that the use of evidence increases the likelihood of ...
Working Papers , Paper 05-27

Working Paper
Mortgages as Recursive Contracts
Marquis, Milton H.; Krainer, John (2004-09-01)
Mortgages are one-sided contracts under which the borrower may terminate the contract at any time, while the lender must commit to honoring the terms of the contract throughout its life. There are two aspects to this feature of the contract that are modeled in this paper. The first is that the borrower may choose between buying a house or renting. Given these alternatives, a contract between a household and a lender makes home ownership feasible, and provides insurance to the household against fluctuating rental payments. The second is that once in a contract, the household may terminate the ...
Working Paper Series , Paper 2003-03

Journal Article
A menu of options : a Richmond Fed economist says that giving financial institutions limited choice about how they are regulated may produce a more stable and efficient banking system
Foerster, Andrew T. (2005-07)
Econ Focus , Volume 9 , Issue Sum , Pages 26-29

Working Paper
Imperfect state verification and financial contracting
Haubrich, Joseph G. (1995)
An argument that in a costly state verification model of financial contracting, relaxing the assumption of perfect verification makes the measurement of information difficult.
Working Papers (Old Series) , Paper 9506

Conference Paper
The effect of creditor control rights on firm investment policy: evidence from private credit agreements
Sufi, Amir; Smith, David C.; Nini, Gregory P. (2007)
Proceedings , Paper 1050

Conference Paper
Contracting costs, inflation, and relative price variability
Stulz, Rene M.; Reagan, Patricia (1993)
Proceedings

Working Paper
Do consumers choose the right credit contracts?
Souleles, Nicholas S.; Agarwal, Sumit; Liu, Chunlin; Chomsisengphet, Souphala (2006)
A number of studies have pointed to various mistakes that consumers might make in their consumption-saving and financial decisions. We utilize a unique market experiment conducted by a large U.S. bank to assess how systematic and costly such mistakes are in practice. The bank offered consumers a choice between two credit card contracts, one with an annual fee but a lower interest rate and one with no annual fee but a higher interest rate. To minimize their total interest costs net of the fee, consumers expecting to borrow a sufficiently large amount should choose the contract with the fee, ...
Working Paper Series , Paper WP-06-11

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