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Computing Effective Tax Rates on Factor Incomes and Consumption: An International Macroeconomic Perspective

Mendoza, Enrique G; Razin, Assaf; Tesar, Linda - C.E.P.R. Discussion Papers - 1994

This paper proposes a methodology for computing effective average tax rates using national accounts and revenue statistics, and applies it to construct time-series of tax rates for the seven largest industrialized countries. The resulting tax rates are consistent with available estimates of...

Persistent link: https://www.econbiz.de/10005124394

Taxing Risky Investment

Devereux, Michael P. - C.E.P.R. Discussion Papers - 2003

This Paper re-examines the impact of capital income taxes on the incentive to invest in the presence of risk. Specifically, it challenges a well-known claim in the literature that such a tax can leave incentives ‘basically unaffected’ because the tax liability is offset by a reduction in the...

Persistent link: https://www.econbiz.de/10005666854

Why so Glum? The Meese-Rogoff Methodology Meets the Stock Market

Flood, Robert P; Rose, Andrew K - C.E.P.R. Discussion Papers - 2008

This paper applies the Meese-Rogoff (1983a) methodology to the stock market. We compare the out-of-sample forecasting accuracy of various time-series and fundamentals-based models of aggregate stock prices. We stick as close as possible to the original Meese-Rogoff sample and methodology. Just...

Persistent link: https://www.econbiz.de/10005124429

Mismeasuring Long Run Growth. The Bias from Spliced National Accounts

Prados de la Escosura, Leandro - C.E.P.R. Discussion Papers - 2014

this paper for the particular case of Spain, a fast growing country in the second half of the twentieth century. It is …

Persistent link: https://www.econbiz.de/10011084295

Effects of religiosity on social behaviour: Experimental evidence from a representative sample of Spaniards

Brañas-Garza, Pablo; Espín, Antonio M.; Neuman, Shoshana - C.E.P.R. Discussion Papers - 2013

This study explores the effect of several personal religion-related variables on social behaviour, using three paradigmatic economic games: the dictator (DG), ultimatum (UG), and trust (TG) games. A large carefully designed sample of a Spanish urban adult population (N=766) is employed. From...

Persistent link: https://www.econbiz.de/10011083371

International Capital Flows and the Boom-Bust Cycle in Spain

In 'T Veld, Jan; Kollmann, Robert; Pataracchia, Beatrice; … - C.E.P.R. Discussion Papers - 2014

government. We estimate the model using 1995Q1-2013Q2 data for Spain, the rest of the Euro Area (REA) and the rest of the world … for Spanish households and firms, as well as a fall in the interest rate spread between Spain and the REA fuelled the … Spanish output boom and the persistent rise in foreign capital flows to Spain, before the global financial crisis. During and …

Persistent link: https://www.econbiz.de/10011083472

Is the Allocation of Public Capital Across the Spanish Regions too Redistributive?

de la Fuente, Angel - C.E.P.R. Discussion Papers - 2002

This Paper compares the observed distribution of the stock of infrastructures across the Spanish regions with the optimal allocation derived from a planning problem in which the observed degree of ex-post redistribution is taken as given. The results suggest that Spanish public investment policy...

Persistent link: https://www.econbiz.de/10005792256

Regional Convergence in Spain, 1965-95

de la Fuente, Angel - C.E.P.R. Discussion Papers - 2002

This Paper explores the sources of convergence in income per capita across the Spanish regions using a decomposition of this variable into employment and productivity factors and an estimate of a regional production function.

Persistent link: https://www.econbiz.de/10005792411

Competition in Spanish Banking

Caminal, Ramon; Gual, Jordi; Vives, Xavier - C.E.P.R. Discussion Papers - 1989

financial market. Banking in Spain has undergone a strong liberalization process in the last fifteen years, which has …

Persistent link: https://www.econbiz.de/10005792462

The Spanish Crisis: Background and Policy Challenges

Suarez, Javier - C.E.P.R. Discussion Papers - 2010

describes the strengths and weaknesses of Spain’s recent long growth cycle, the real and financial imbalances accumulated … pressure, partly initiated by unjustified catastrophic expectations about Spain, provides an opportunity for accelerating the …

Persistent link: https://www.econbiz.de/10008554220