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Mark-to-market accounting and systemic risk: evidence from the insurance industry

Ellul, Andrew; Jotikasthira, Chotibhak; Lundblad, … - London School of Economics (LSE) - 2013

One of the most contentious issues raised during the recent crisis has been the potentially exacerbating role played by mark-to-market accounting. Many have proposed the use of historical cost accounting, promoting its ability to avoid the amplification of systemic risk. We caution against...

Persistent link: https://www.econbiz.de/10011171756

Stocks and shocks: a clarification in the debate over price vs. quantity controls for greenhouse gases

Parsons, John E.; Taschini, Luca - London School of Economics (LSE) - 2011

We construct two simple examples that help to clarify the role of a key assumption in the analysis of price or quantity controls of greenhouse gases in the presence of uncertain costs. Traditionally much has been made of the fact that greenhouse gases are a stock pollutant, and that therefore...

Persistent link: https://www.econbiz.de/10010746433

Taxes, social subsidies, and the allocation of work time

Ngai, L. Rachel; Pissarides, Christopher A. - London School of Economics (LSE) - 2011

are treated differently by welfare policy. We attribute the disparities to the countries' tax and subsidy policies. High …

Persistent link: https://www.econbiz.de/10011126278

Should China revisit the 1994 fiscal reforms?

Ahmad, Ehtisham - London School of Economics (LSE) - 2011

Persistent link: https://www.econbiz.de/10011126383

The political-economy of tax reforms in Pakistan: the ongoing saga of the GST

Admad, Ehtisham - London School of Economics (LSE) - 2010

No Abstract

Persistent link: https://www.econbiz.de/10011126423

Taxation for the enabling state

Hills, John - London School of Economics (LSE) - 2000

maintenance of the welfare state, not as a dead-weight burden. It sets recent developments in the UK tax ratio in the context of … effects of both tax and spending. It then discusses tax and transfer policy since the change of governance in May 1997 in the … four Labour Budgets since July 1997 with those which would have resulted from simply indexing the April 1997 tax and social …

Persistent link: https://www.econbiz.de/10011126453

Taxes, cigarette consumption, and smoking intensity: reply

Adda, Jérôme; Cornaglia, Francesca - London School of Economics (LSE) - 2012

This paper shows that smoking intensity, i.e. the amount of nicotine extracted per cigarette smoked, responds to changes in excise taxes and tobacco prices. We exploit data covering the period 1988 to 2006 across many US states. Moreover, we provide new evidence on the importance of cotinine...

Persistent link: https://www.econbiz.de/10010745433

Optimal corporation tax: an I.O. approach

Colombo, Luca; Labrecciosa, Paola; Walsh, Patrick Paul - London School of Economics (LSE) - 2006

Theory predicts that optimal effective corporation tax rates will be negatively related to industry specific sunk costs …, and hence industry concentration. Governments should tax industries with monopolistic power softly. Evidence suggests that …

Persistent link: https://www.econbiz.de/10010745634

The causal effects of an industrial policy

Criscuolo, Chiara; Martin, Ralf; Overman, Henry G.; Van … - London School of Economics (LSE) - 2012

Business support policies designed to raise productivity and employment are common worldwide, but rigorous micro-econometric evaluation of their causal effects is rare. We exploit multiple changes in the area-specific eligibility criteria for a major program to support manufacturing jobs...

Persistent link: https://www.econbiz.de/10011126451

From Russia with love: the impact of relocated firms on incumbent survival

Falck, Oliver; Guenther, Christina; Heblich, Stephan; … - London School of Economics (LSE) - 2011

We identify the impact of local firm concentration on incumbent performance with a quasi natural experiment. When Germany was divided after World War II, many firms in the machine tool industry fled the Soviet occupied zone to prevent expropriation. We show that the regional location decisions...

Persistent link: https://www.econbiz.de/10011126565