Andrei Shleifer

TL;DR: Botero et al. as discussed by the authors investigated the regulation of labor markets through employment, collective relations, and social security laws in 85 countries and found that the political power of the left is associated with more stringent labor regulations and more generous social security systems, and that socialist, French and Scandinavian legal origin countries have sharply higher levels of labor regulation than do common law countries.

TL;DR: In this article, the authors present a model of mergers and acquisitions based on stock market misvaluations of the combining firms and the market's perception of the synergies from the combination.

TL;DR: The authors found that most indicators of institutional quality used to establish the proposition that institutions cause economic growth are conceptually unsuitable for that purpose and also found that some of the instrumental variable techniques used in the literature are flawed.

TL;DR: The case for private provision only becomes stronger when competition between suppliers, reputational mechanisms, and the possibility of provision by private not-for-profit firms, as well as political patronage and corruption, are brought into play as discussed by the authors.

TL;DR: In this article, the authors examined the evidence that fluctuations in discounts on closed-end funds are driven by changes in individual investor sentiment toward closed end funds and other securities and found that discounts on various funds must move together, and that new funds get started when seasoned funds sell at a premium or a small discount.