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COVID-19 and SME Failures
Gourinchas, Pierre-Olivier - 2020
estimate only moderate effects on the financial sector: the share of Non Performing Loans on bank balance sheets would increase …
Persistent link: https://www.econbiz.de/10012481180
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The Micro and Macro Dynamics of Capital Flows
Saffie, Felipe - 2020
We empirically and theoretically study the effects of capital flows on resource allocation within sectors and cross-sectors. Novel data on service firms - in addition to manufacturing firms - allows us to assess two channels of resource reallocation. Capital inflows lower the relative price of...
Persistent link: https://www.econbiz.de/10012481566
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COVID-19 and SMEs : A 2021 "Time Bomb"?
Gourinchas, Pierre-Olivier; Kalemli-Ozcan, Sebnem; … - National Bureau of Economic Research - 2021
This paper assesses the prospects of a 2021 time bomb in SME failures triggered by the generous support policies enacted during the 2020 COVID-19 crisis. Policies implemented in 2020, on their own, do not create a 2021 "time-bomb" for SMEs. Rather, business failures and policy costs remain...
Persistent link: https://www.econbiz.de/10012482634
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Ownership and Wages : Estimating Public-Private and Foreign-Domestic Differentials using LEED from Hungary, 1986-2003
Earle, John S. - 2007
Studies of public-private and foreign-domestic wage differentials face difficulties distinguishing ownership effects from correlated characteristics of workers and firms. This paper estimates these ownership differentials using linked employer-employee data (LEED) from Hungary containing 1.35mln...
Persistent link: https://www.econbiz.de/10012465658
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Theft and Taxes
Desai, Mihir A. - 2004
This paper analyzes the interaction between corporate taxes and corporate governance. We show that the characteristics of a taxation system affect the extraction of private benefits by company insiders. A higher tax rate increases the amount of income insiders divert and thus worsens governance...
Persistent link: https://www.econbiz.de/10012467710
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Inflation Targeting in Transition Countries : Experience and Prospects
Jonas, Jiri - 2003
performance will improve and support for the central bank will be higher if the central banks emphasize avoiding undershoots of … central bank and the government in these countries has been quite difficult, but this can be alleviated by having a direct … government involvement in the setting of the inflation target and with a more active role of the central bank in communicating …
Persistent link: https://www.econbiz.de/10012469031
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Macroeconomic Policy and Institutions During the Transition to European Union Membership
Branson, William H. - 1998
A framework is developed for macroeconomic policy analysis in four countries of Central Europe (CE) in transition to EU membership (Czech Republic, Hungary, Poland, and Slovakia). A Multi-Annual Fiscal Adjustment Strategy (MAFAS) and a Pre-Pegging Exchange Rate Regime (PPERR) appropriate for...
Persistent link: https://www.econbiz.de/10012472253
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On the Speed of Transition Central Europe
Aghion, Philippe - 1994
Transition in Central Europe is four years old. State firms which dominated the economy are struggling with market forces. A new private sector quickly emerged and has taken hold. Unemployment, which did not exist, is high and still increasing. Will this process of transition accelerate, or slow...
Persistent link: https://www.econbiz.de/10012474189
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What Directions for Labor Market Institutions in Eastern and Central Europe?
Freeman, Richard B. - 1992
In this paper I examine the evolution of labor relations institutions during the initial phase of marketization in Poland, Hungary. and Czechoslovakia and develop a model of changing support for reforms during the transition to a market economy. I find surprising stability in labor institutions...
Persistent link: https://www.econbiz.de/10012474756
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Making Sense of the Soviet Trade Shock in Eastern Europe : A Framework and Some Estimates
Rodrik, Dani - 1992
Eastern European countries have experienced sharp declines in real GDP since 1990. One of the reasons for this decline is the Soviet trade shock, deriving from the collapse of the CMEA and of traditional export markets in the Soviet Union. This paper is an attempt to quantify the magnitude of...
Persistent link: https://www.econbiz.de/10012474863