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Drivers and Obstacles to Banking SMEs: The Role of Competition and the Institutional Framework

Torre, Augusto de la; Pería, María Soledad Martínez; … - CESifo - 2009

Small and medium enterprises (SMEs) are important for employment and economic activity; however, they are perceived to lack adequate financing, which hampers their growth. As a consequence, governments have implemented a number of programs to foster SME lending and attention has focused on...

Persistent link: https://www.econbiz.de/10004979421

Systemic Crises and Growth

Ranciere, Romain; Tornell, Aaron; Westermann, Frank - CESifo - 2005

In this paper, we document the fact that countries that have experienced occasional financial crises have, on average, grown faster than countries with stable financial conditions. We measure the incidence of crisis with the skewness of credit growth, and find that it has a robust negative...

Persistent link: https://www.econbiz.de/10005405758

Financial Constraints and other Obstacles: Are they a Threat to Innovation Activity?

Loeff, Sybrand Schim van der; Mohnen, Pierre; Palm, Franz; … - CESifo - 2008

In this paper we examine the importance of financial and other obstacles to innovation in the Netherlands using statistical information from the CIS 3.5 innovation survey. We report results on the effect of these obstacles on the firms’ decision to abandon, prematurely stop, seriously slow...

Persistent link: https://www.econbiz.de/10005406079

Microeconometric Evidence of Financing Frictions and Innovative Activity

Tiwari, Amaresh K.; Mohnen, Pierre; Palm, Franz; Loeff, … - CESifo - 2014

Using Dutch data we empirically investigate how financing and innovation vary across firm characteristics. We find that when firms face financial constraints, debt financing and innovation choices are not independent of firm characteristics, and R&D slows down. In the absence of financial...

Persistent link: https://www.econbiz.de/10010743448

The Effects of International Financial Integration in a Model with Heterogeneous Firms and Credit Frictions

Clemens, Christiane; Heinemann, Maik - CESifo - 2013

This paper examines the consequences of international financial integration in a two–sector heterogeneous–agent dynamic general equilibrium model of occupational choice with financial constraints and idiosyncratic risks. We discuss the macroeconomic and distributional effects of financial...

Persistent link: https://www.econbiz.de/10010703423

Up or Down? Capital Income Taxation in the United States and the United Kingdom

Polito, Vito - CESifo - 2010

Empirical evidence suggests that the Effective Marginal Tax Rate (EMTR) on income from capital has increased considerably in both the United States and the United Kingdom over the period 1982-2005. This evidence contradicts the corporate tax literature which predicts that the EMTR should instead...

Persistent link: https://www.econbiz.de/10008799731

Demographic Change and Bank Profitability. Empirical Evidence from German Savings Banks

Berlemann, Michael; Oestmann, Marco; Thum, Marcel - CESifo - 2010

, allows us estimating the socio-demographic determinants of retail profitability. Using a simulation model, we are able to … predict the development of bank profitability due to demographic shifts up to 2025. One of the main findings is that the … the population reduces the customer base, ageing per se increases profitability as older customers typically generate …

Persistent link: https://www.econbiz.de/10008534055

Competition and Gender Prejudice: Are Discriminatory Employers Doomed to Fail?

Weber, Andrea; Zulehner, Christine - CESifo - 2009

According to Becker's (1957) famous theory on discrimination, entrepreneurs with a strong prejudice against female workers forgo profits by submitting to their tastes. In a competitive market their firms lack efficiency and are therefore forced to leave. We present new empirical evidence for...

Persistent link: https://www.econbiz.de/10008572488

The U.S. Dollar Exchange Rate and the Demand for Oil

Schryder, Selien De; Peersman, Gert - CESifo - 2013

Using recent advances in panel data estimation techniques, we find that an appreciation of the US dollar exchange rate leads to a significant decline in oil demand for a sample of 65 oil-importing countries. The estimated effect turns out to be much larger than the impact of a shift in the...

Persistent link: https://www.econbiz.de/10010877652

Donor Ideology and Types of Foreign Aid

Brech, Viktor; Potrafke, Niklas - CESifo - 2013

We examine how donor government ideology influences the composition of foreign aid flows. We use data for 23 OECD countries over the period 1960-2009 and distinguish between multilateral and bilateral aid, grants and loans, recipient characteristics such as income and political institutions,...

Persistent link: https://www.econbiz.de/10010877746