Search Results
Journal Article
The economics and politics of financial modernization
Working Paper
Regulatory distortion of competition
Journal Article
The problem with state bidding wars and some possible remedies
Report
Who Collaborates with the Soviets? Financial Distress and Technology Transfer During the Great Depression
We provide evidence that financial distress induces firms to sell their technology to foreign competitors. To do so, we construct a novel, spatial panel dataset by individually researching and locating U.S. firms who signed Technology Transfer Agreements (TTAs) with the Soviet Union during the 1920s and 1930s in various U.S. counties. By relating the number of TTAs signed in each county to the number of bank failures, we establish a significant, positive relationship between financial distress and the number of firms signing TTAs with the Soviet Union. Our findings suggest that banking panics ...
Working Paper
A test of two views of the regulatory mechanism: Averch-Johnson and Joskow
A test of the Averech-Johnson and the Joskov models of the electric utility regulatory process.