Licensing technology essential to a standard can present a hold-up problem. After designing new products incorporating a standard, a manufacturer could be confronted by an innovator asserting patent rights to…
We investigate the relationship between borrower risk and loan maturity in small business lending. Using a rich dataset on new loans extended to German firms, we find a robust, significantly positive, monotonic…
States often grant banks guarantees to prevent the collapse of the financial system. However, these guarantees must be withdrawn again as quickly as possible. The potential implications of withdrawing guarantees…
