David Webb

This paper argues that endogenous growth requires not merely savings and investment, but institutions that ensure investment is productivity-enhancing...

This paper develops an overlapping generations model to analyse the inflationary consequences of introducing cryptocurrency alongside fiat money in an...

This paper explains why institutional reforms often fail to stimulate investment despite improving long-run fundamentals. We develop a real options...

This paper introduces a dynamic model of corporate investment that integrates misreporting incentives with leverage and growth option timing. Unlike...

This paper provides a novel efficiency rationale for progressive corporate taxation based on commitment problems in entrepreneurial finance. Poor...

This paper analyses how firms respond to liquidity shocks when asset prices are endogenously determined through matching frictions. Building on...

We analyse how public health insurance affects private insurance markets in mixed public-private systems. Extending the standard selection framework...

This paper presents a general equilibrium analysis on the interactions between pen- sion plan funding, capital structure, technology choice and the...