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Persistent link: https://www.econbiz.de/10003358252
Persistent link: https://www.econbiz.de/10002886920
This paper studies public-debt runs under alternative assumptions on the distribution oftaxes among tax bases, the distribution of debt among classes of taxpayers, and thedistributive preferences of the government. Asymmetries in the distribution of taxes--arising, for example, from income-tax...
Persistent link: https://www.econbiz.de/10009305095
The purpose of this paper is to present a framework forincentive-compatible regulation that would enable regulatorsto ensure that riskier banks maintain higher capitalholdings.Under the precommitment approach, a bankannounces the appropriate level of capital that covers themaximum value of...
Persistent link: https://www.econbiz.de/10005870080
[...]This paper presents an overview of the new capitalrequirements. In the first section, we describe the structureof the requirements and the considerations that went intotheir design. In addition, we address some of the concernsthat have been raised about the methods of calculating...
Persistent link: https://www.econbiz.de/10005870218
[...]We conclude that technological change, combinedwith overall growth in the capital stock, is the most importantfactor driving the growing wage inequality betweenlow-skilled and high-skilled workers. Increased competitionfrom abroad, both from developing and industrializedcountries, appears...
Persistent link: https://www.econbiz.de/10005870367
This paper tests whether the so-called ‘reach of the market’ helps to explain ‘why Europe’ and ‘why north-western Europe’. By looking at grain markets from the late seventeenth to the early twentieth century, this study concludes that the process of commodity market integration...
Persistent link: https://www.econbiz.de/10005870461
trades, and convincing explanations of the persistence of the Indo-Central Asian trade (for example) despite the growing Indo …-European trade from the seventeenth-century. The customs-union model usefully approximates this trading-situation (i.e. the Europeans … the possibility for trade-creation (i.e. due to substitution between otherwise regionally-specialised production …
Persistent link: https://www.econbiz.de/10005870483
Statistical analysis of Greek sovereign debt denominated in gold and traded on the London Stock Exchange from the outbreak of the First World War until the advent of the Great Depression is employed to explore the way that historical events including political and institutional changes shaped...
Persistent link: https://www.econbiz.de/10005870576
per capita incomes across economies and the spatial advance of free trade. For many economists and historians the two are … linked: the reduction of trade barriers in the post-war world ushered in a new era of globalisation and that globalisation in … then it would represent one of the most important transitions of the twentieth century. Free trade was championed by the …
Persistent link: https://www.econbiz.de/10005870584