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Money at the Docks of Tax Havens: A Guide
Hebous, Shafik - CESifo - 2011
This essay critically revisits the roles and influences of tax havens in the world economy. It combines various massages of available studies in one scheme, documents a number of observations, and proposes several issues for future research.
Persistent link: https://www.econbiz.de/10009320788
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A Journey from a Corruption Port to a Tax Haven
Hebous, Shafik; Lipatov, Vilen - CESifo - 2011
corruption and the concealment of officials’ bribes, tax havens discourage the provision of public goods and hence have also a …
Persistent link: https://www.econbiz.de/10009352225
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Default Predictors and Credit Scoring Models for Retail Banking
Kocenda, Evžen; Vojtek, Martin - CESifo - 2009
This paper develops a specification of the credit scoring model with high discriminatory power to analyze data on loans at the retail banking market. Parametric and non- parametric approaches are employed to produce three models using logistic regression (parametric) and one model using...
Persistent link: https://www.econbiz.de/10008572500
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Does Corruption Erode Trust in Government? Evidence from a Recent Surge of Local Scandals in Spain
Solé-Ollé, Albert; Sorribas-Navarro, Pilar - CESifo - 2014
We examine whether a corruption scandal in which the incumbent is implicated undermines trust in local government. We … use a novel dataset containing information on local corruption scandals reported in Spain during the period 1999-2009, and … methods to improve the identification of the effect of corruption scandals on trust, comparing municipalities affected by a …
Persistent link: https://www.econbiz.de/10010877719
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Spillovers from Systemic Bank Defaults
Mink, Mark; Haan, Jakob de - CESifo - 2014
We examine to what extent banks’ stock market values during the 2007-2012 financial crisis were driven by increases in the default risk of banks designated as globally systemically important by the Financial Stability Board. We find that bank market values hardly respond to changes in the...
Persistent link: https://www.econbiz.de/10010877758
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Sovereign Default Risk and Banks in a Monetary Union
Uhlig, Harald - CESifo - 2013
This paper seeks to understand the interplay between banks, bank regulation, sovereign default risk and central bank guarantees in a monetary union. I assume that banks can use sovereign bonds for repurchase agreements with a common central bank, and that their sovereign partially backs up any...
Persistent link: https://www.econbiz.de/10010877795
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Taxing Banks: An Evaluation of the German Bank Levy
Buch, Claudia M.; Hilberg, Björn; Tonzer, Lena - CESifo - 2014
Bank distress can have severe negative consequences for the stability of the financial system, the real economy, and public finances. Regimes for restructuring and restoring banks financed by bank levies and fiscal backstops seek to reduce these costs. Bank levies attempt to internalize systemic...
Persistent link: https://www.econbiz.de/10010877827
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Holes in the Dike: The Global Savings Glut, U.S. House Prices and the Long Shadow of Banking Deregulation
Hoffmann, Mathias; Stewen, Iryna - CESifo - 2015
We explore empirically how capital inflows into the US and financial deregulation within the United States interacted in driving the run-up (and subsequent decline) in US housing prices over the period 1990-2012. To obtain an ex ante measure of financial liberalization, we focus on the history...
Persistent link: https://www.econbiz.de/10011272618
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On the Incidence of a Financial Transactions Tax in a Model with Fire Sales
Bierbrauer, Felix - CESifo - 2012
This paper studies the impact of a financial transactions tax on a financial market where financial institutions trade with each other. Assets are marked to the market and financial institutions with negative equity are forced out of business. There are two main results: First, if all banks have...
Persistent link: https://www.econbiz.de/10010556078
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Government Guarantees and Bank Risk Taking Incentives
Fischer, Markus; Hainz, Christa; Rocholl, Jörg; … - CESifo - 2014
This paper analyzes the effect of the removal of government guarantees on bank risk taking. We exploit the removal of guarantees for German Landesbanken which results in lower credit ratings, higher funding costs, and a loss in franchise value. This removal was announced in 2001, but...
Persistent link: https://www.econbiz.de/10010752789