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Bank Networks: Contagion, Systemic Risk and Prudential Policy
Aldasoro, Inaki; Gatti, Domenico Delli; Faia, Ester - CESifo - 2015
We present a network model of the interbank market in which optimizing risk averse banks lend to each other and invest …
Persistent link: https://www.econbiz.de/10011155379
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Catching-up and Inflation in Europe: Balassa-Samuelson, Engel's Law and other Culprits
Egert, Balazs - CESifo - 2010
This study analyses the impact of economic catching-up on annual inflation rates in the European Union with a special focus on the new member countries of Central and Eastern Europe. Using an array of estimation methods, we show that the Balassa-Samuelson effect is not an important driver of...
Persistent link: https://www.econbiz.de/10008596582
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Home Bank Intermediation of Foreign Direct Investment
Poelhekke, Steven - CESifo - 2011
This paper investigates the benefits of banks’ direct investment in foreign subsidiaries and branches for non …-financial multinationals. The paper builds on the literature on international banks which has primarily focused on the implications for host … the volume of FDI by home market banks boosts FDI by non-financial firms from the same home market. Domestic and third …
Persistent link: https://www.econbiz.de/10009147744
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How should Financial Intermediation Services be Taxed?
Lockwood, Benjamin - CESifo - 2010
equilibrium when banks have monopoly power, justifying a Pigouvian tax in this case. …
Persistent link: https://www.econbiz.de/10008727277
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EU Banks Rating Assignments: Is there Heterogeneity between New and Old Member Countries?
Caporale, Guglielmo Maria; Matousek, Roman; Stewart, Chris - CESifo - 2010
differences in financial factors, which may reflect differences in country risk and the legal and regulatory framework that banks …
Persistent link: https://www.econbiz.de/10008583666
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Banking Crisis Resolution Policy - Lessons from Recent Experience - which elements are needed for robust and efficient crisis resolution?
Mayes, David G. - CESifo - 2009
The current financial crisis has sparked intense debate about how weak banks should be resolved. Despite international …
Persistent link: https://www.econbiz.de/10008583712
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Why Countries Differ in Thin Capitalization Rules: The Role of Financial Development
Mardan, Mohammed - CESifo - 2015
In the absence of financial frictions, the purpose of thin capitalization rules is to limit multinational firms’ possibilities of engaging in tax planning via debt shifting. This paper analyzes the effects of thin capitalization rules in the case where firms have limited access to external...
Persistent link: https://www.econbiz.de/10011257666
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Lobbying and Bribes - A Survey-Based Analysis of the Demand for Influence and Corruption
Bennedsen, Morten; Feldmann, Sven; Lassen, David Dreyer - CESifo - 2011
We use survey responses by firms to examine the firm-level determinants and effects of political influence, their perception of corruption and prevalence of bribe paying. We find that: (a) measures of political influence and corruption/bribes are uncorrelated at the firm level; (b) firms that...
Persistent link: https://www.econbiz.de/10009144880
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Stock Market Returns, Corporate Governance and Capital Market Equilibrium
Parigi, Bruno Maria; Pelizzon, Loriana; Thadden, … - CESifo - 2013
This paper proposes a theoretical model that incorporates corporate governance into the basic CAPM, where corporate governance affects the disutility of managerial effort and the possibility of managers to divert company resources. It shows that corporate governance affects firms’ stock...
Persistent link: https://www.econbiz.de/10010720638
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CCS - Failing to Pass Decision Gates
Emhjellen, Magne; Osmundsen, Petter - CESifo - 2014
There is a planning gap for CCS projects in Europe. CCS demonstration plants are not implemented as expected. This fact is at odds with optimistic valuation reports that apply socio-economic valuation criteria for climate projects. However, CCS plants are in most cases to be implemented by...
Persistent link: https://www.econbiz.de/10010888457