the experience of 34 OECD countries over 1980-2014 to assess the effects of changes in the tax structure on the long … while keeping government size constant typically lift long-term output per capita when they involve cuts in the labour tax …-income effects of revenue-neutral reductions in labour tax wedges are broadly in line with intuition: the relative position of those …

This study analyzes information production and trading behavior of banks with lending relationships. We combine trade …-by-trade supervisory data and credit-registry data to examine banks' proprietary trading in borrower stocks around a large number of … corporate events. We find that relationship banks build up positive (negative) trading positions in the two weeks before events …

lending. In our model commercial banks finance their loans with deposits and equity, while facing equity issuance costs …. Because of this financial friction, banks build equity buffers to absorb negative shocks. Aggregate bank capital determines … competitive equilibrium is constrained inefficient, because banks do not internalize the consequences of individual lending …

less likely than white-owned recipients to borrow from banks and more likely to borrow from fintech lenders is driven … likely than white-owned firms to apply to banks and 7.8 percentage points more likely to apply to fintechs. However, they … face similar average approval disparities at banks (7.4 percentage points) and fintechs (8.4 percentage points). Sorting by …

We examine whether banks manage firms’ climate transition risks via corporate loan securitization. Results show that … banks are more likely to securitize loans granted to firms that become more carbon-intensive. The effect is more pronounced … if banks have a lower willingness to adjust loan terms. Exploiting the election of Donald Trump as an exogenous shock …

efficiency of the mutual agreement procedure (MAP). The MAP is included in Article 25 of the OECD Model Tax Convention and … commits countries to endeavour to resolve disputes related to the interpretation and application of tax treaties. The Action …