In this paper, we review three branches of theoretical literature on financial crises. The first one deals with banking crises originating from coordination failures among bank creditors. The second one deals with frictions in credit and interbank markets due to problems of moral hazard and adverse selection. The third one deals with currency crises. We discuss the evolutions of these branches ...

Marketing, Wharton School, University of Pennsylvania (e-mail: jwhutch@ wharton.upenn.edu). Joseph W. Alba is Distinguished Professor of Marketing, Warrington College of Business, University of Florida (e-mail: [email protected]). Eric M. Eisenstein is Assistant Professor of Marketing, Fox School of Business, Temple University (e-mail: eric.eisenstein@ temple.edu). The authors thank the Whar...

We examine how parent firm location influences the performance of subsequent entrepreneurial spawns into the hedge fund industry. We find that hedge fund managers who previously worked for parent firms located in the industry hubs—New York and London—outperform their peers, regardless of where the hedge fund is located. These results are robust to controls for selection into job spells in New Y...

J . D A V I D C U M M I N S , R I C H A R D D . P H I L L I P S , A N D S T E P H E N D . S M I T H Cummins is the Harry J. Loman Professor of Insurance and Risk Management at the Wharton School, University of Pennsylvania, and a senior fellow at the Wharton Financial Institutions Center. Phillips is an assistant professor at Georgia State University. Smith holds the H. Talmage Dobbs Jr. Chair ...

T H I S BOOK'S CONTRIBUTING AUTHORS present practical management tools and techniques needed to cope with the uncertain future of healthcare. Although the book is directed to professionals in the Johnson & Johnson-Wharton Fellows Program in Managemen t for Nurses, other healthcare managers will find the information useful. The work of 11 contributing authors is organized in three parts: plannin...

A 59-year-old Patient presented with cerivical lymphnode and a submandibular swelling on the right side of unknown cause that was not responsive to antibiotic treatment. 16 years ago a submandibulectomy was performed on the right side, nevertheless submandibular swellings had occurred repeatedly. Clinical examination showed a right-sided cervical swelling in the submandibular region. The floor ...

By many objective measures the lives of women in the United States have improved over the past 35 years, yet we show that measures of subjective well-being indicate that women’s happiness has declined both absolutely and relative to men. The paradox of women’s declining relative well-being is found across various datasets, measures of subjective well-being, and is pervasive across demographic g...