banks with low initial levels of Tier 1 capital and in banks that adopted Basel II rules early.  We find tangible common … equity and Tier 1 ratios to be better predictors of bank distress than broader measures of capital, and identify market … public recapitalisation plan and regulatory measures of capital. …

regulators try to resolve these problems. We find that liberalising bank capital flows between economies reduces total welfare by … harmonisation of capital requirements across economies, a policy reminiscent of the level playing field adopted in the 1988 Basle … capital requirement is better for the higher quality regulator. We find that imposing a level playing field among countries is …

A common theme in the theory of demand aggregation is that market demand can acquire properties which are not always …

labour market (e.g. Layard, Nickell and Jackman, 1991) imply that equilibrium unemployment is independent of the capital …-Douglas production function so that when the capital-labour ratio drops below a certain threshold, the returns to labour fall while the … returns to capital increase. Using this assumption, we show that equilibrium unemployment depends on the capital stock over a …

there is a relation in terms of both industry growth rates and shares of output devoted to R&D. Investment in R&D rather … than fixed capital formation appears to be the main route through which financial systems affect economic activity …

.  Investment rises robustly soon after the news arrives, while GDP does not increase until after 5 years.  Employment rates fall …

productive, or near equally productive employees without relational contracts.  Investment in specific training relaxes the … incentive constraints on relational contracts, so the optimal level of investment can be higher for those with a relational … additional cost of optimal investment precisely offsets the post-investment surplus for marginal employees in relational …

while returns to invested capital in Sub-Saharan Africa are high compared to select Asian and South American markets …, investment rates are low.  I investigate three sources: detailed World Bank surveys of 6,500 manufacturing firms, a new panel … returns to be high throughout.  Micro-evidence and sectoral FDI data confirm that investment remains low outside the mining …