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Debt and Deficit Ceilings, and Sustainability of Fiscal Policies: An Intertemporal Analysis
Uctum, Merih; Wickens, Michael R. - C.E.P.R. Discussion Papers - 1997
This paper examines the consequences for the sustainability of fiscal policy of imposing restrictive ceilings on …
Persistent link: https://www.econbiz.de/10005791703
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Currency Substitution in a Two-Asset Two-Country Model: A Simulation Approach
Artis, Michael J; Gazioglu, Saziye - C.E.P.R. Discussion Papers - 1986
The paper reports results obtained from the simulation of a two-country model in which the real and financial sectors are integrated under an assumption of rational expectations and steady-state inflationary equilibria. The government of each country issues a single financial asset ("currency")...
Persistent link: https://www.econbiz.de/10005661801
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Hardened Budgets and Enterprise Restructuring: Theory and an Application to Romania
Coricelli, Fabrizio; Djankov, Simeon - C.E.P.R. Discussion Papers - 2001
We identify the presence of soft budgets and analyse their impact on enterprise restructuring in Romania over the …
Persistent link: https://www.econbiz.de/10005123818
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Regional Unemployment and Human Capital in Transition Economies
Jurajda, Stepan; Terrell, Katherine - C.E.P.R. Discussion Papers - 2007
Differences in regional unemployment in post-communist economies are large and persistent. We show that inherited variation in human-capital endowment across the regions of four such economies explains the bulk of regional unemployment variation there and we explore potential explanations for...
Persistent link: https://www.econbiz.de/10005136518
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Competition and Firm Performance in Transition Economies: Evidence from Firm Level Surveys in Slovenia, Hungary and Romania
Konings, Jozef - C.E.P.R. Discussion Papers - 1997
countries, Hungary, Romania and Slovenia. The data are based on interviews taken in more than 300 state-owned, privatized and … pressure has a positive impact on firm performance in Hungary and Slovenia, but not in Romania, while in Romenia short … Romania, the results are somewhat mixed; state-owned enterprises do worse than employee-owned (privatized) and newly …
Persistent link: https://www.econbiz.de/10005498145
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The Enterprise Isolation Programme in Romania
Djankov, Simeon - C.E.P.R. Discussion Papers - 1999
We provide comprehensive analysis of the isolation program for financially distressed firms in Romania. The results …
Persistent link: https://www.econbiz.de/10005666566
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Do the Biggest Aisles Serve a Brighter Future? Global Retail Chains and Their Implications for Romania
Javorcik, Beata; Li, Yue - C.E.P.R. Discussion Papers - 2008
-level data from Romania, this study examines how the presence of global retail chains affects firms in the supplying industries …
Persistent link: https://www.econbiz.de/10005791348
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What is the Top Priority on Climate Change?
Klemperer, Paul - C.E.P.R. Discussion Papers - 2009
talk to the Potsdam Global Sustainability Symposium (which drafted the Potsdam Declaration presented to the 2007 UN Climate …
Persistent link: https://www.econbiz.de/10005123837
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Imperfect Tests and Natural Insurance Monopolies
Emons, Winand - C.E.P.R. Discussion Papers - 1997
This paper considers a housing insurance market in which buildings have different damage probabilities. Insurers use imperfect tests to find out about buildings’ damage types. The insurance market is a natural monopoly. If more than one insurer is active, high risk house owners continue to...
Persistent link: https://www.econbiz.de/10005123854
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Endogenous Communication Among Lenders and Entrepreneurial Incentives
Padilla, Atilano Jorge; Pagano, Marco - C.E.P.R. Discussion Papers - 1996
When banks have an informational monopoly about their borrowers, the latter incentives can be thwarted by the fear that the return on their effort will be partly appropriated by their banks via high future interest rates. Banks can correct this incentive problem through a commitment to share...
Persistent link: https://www.econbiz.de/10005124286