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The Valuation Effects of Geographic Diversification; Evidence From U.S. Banks

Laeven, Luc; Goetz, Martin R.; Levine, Ross - International Monetary Fund (IMF) - 2012

This paper assesses the impact of the geographic diversification of bank holding company (BHC) assets across the United States on their market valuations. Using two novel identification strategies based on the dynamic process of interstate bank deregulation, we find that exogenous increases in...

Persistent link: https://www.econbiz.de/10009654142

Why is it so Hard to Finance Budget Deficits? Problems of a Developing Country

Iwata, Shigeru; Feltenstein, Andrew - International Monetary Fund (IMF) - 2002

This paper examines possible ways for a developing country to finance budget deficits from domestic resources. It does … availability of foreign-currency deposits may have reduced the ability of the government to finance itself. …

Persistent link: https://www.econbiz.de/10005826075

Can Good Events Lead to Bad Outcomes? Endogenous Banking Crises and Fiscal Policy Responses

Rochon, Céline; Feltenstein, Andrew - International Monetary Fund (IMF) - 2006

In this paper, we study the impact of labor market restructuring and foreign direct investment on the banking sector … exchange rate or an increase in debt issue to finance the government deficit, as compared to a benchmark scenario in which … and increasing the tax rate on labor. Such policies can prevent banking failures by raising the return to capital. It is …

Persistent link: https://www.econbiz.de/10005826477

An Analysis of the Underground Economy and its Macroeconomic Consequences

Dabla-Norris, Era; Feltenstein, Andrew - International Monetary Fund (IMF) - 2003

This paper develops a dynamic computable general equilibrium model in which optimizing agents evade taxes by operating in the underground economy. The cost to firms of evading taxes is that they find themselves subject to credit rationing from banks. Our model simulations show that in the...

Persistent link: https://www.econbiz.de/10005604873

Bank Failures and Fiscal Austerity; Policy Presecriptions for a Developing Country

Feltenstein, Andrew - International Monetary Fund (IMF) - 2000

This work employs a dynamic general equilibrium model to evaluate the causes and implications of bank insolvencies. The model is applied to stylized data from several South Asian countries. It derives conclusions about policy instruments designed to alleviate the impact of insolvencies. Firms...

Persistent link: https://www.econbiz.de/10005605249