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This paper shows that geographical investor heterogeneity strongly influences sovereign risk. While standard sovereign debt models mainly attribute the absence of sovereign defaults to foreign creditor retaliation, a new theoretical literature argues that domestic creditors also affect borrowing...
Persistent link: https://www.econbiz.de/10002577962
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This paper reconsiders the classical problem of majority voting over tax schedules, adding the possibility to avoid taxes. In this setting preferences over tax schedules are not determined by earned income, but rather by taxable income, which depends on the joint decisions of labor supply and...
Persistent link: https://www.econbiz.de/10001760554
-year gained and cost per quality-adjusted life-year, QALY, gained) of treating osteoporotic women in Denmark with alendronate …, compared with no treatment. Design: A Markov model earlier used in the economic evaluation for Sweden was adapted using … epidemiological and cost data for Denmark. In the base-case alendronate was assumed to have a fracture-risk reducing effect for ten …
Persistent link: https://www.econbiz.de/10001673640
In this paper we study the changes in corporate valuation, investments, and financing choices induced by the formation of Economic and Monetary Union (EMU) in Europe. We use corporate-level data from ten countries that adopted the euro, the three EU countries that did not join EMU, as well as...
Persistent link: https://www.econbiz.de/10001693121
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In this paper we study the changes in corporate valuations induced by the adoption of the euro as the common currency in Europe. We use corporate-evel data from ten countries that adopted the euro, the three EU countries that did not start using the euro, as well as Norway and Switzerland. We...
Persistent link: https://www.econbiz.de/10001753268
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