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weak outsider property rights enforcement in Russia. Keywords: institutional environment and internal labor market …
Persistent link: https://www.econbiz.de/10012465657
alternative channels through which privatization promotes restructuring. Restructuring is measured as capital renovation, change …
Persistent link: https://www.econbiz.de/10012473750
Integrating national accounting with financial accounting, we provide firm-specific estimates of current-cost capital stocks for the entire Compustat universe, as well as an array of estimates of investment flows, economic depreciation rates, and capital and investment price deflators. The...
Persistent link: https://www.econbiz.de/10013191052
This paper proposes a new approach to improve the way central banks can analyze and manage the financial risks of a national economy. It is based on the modern theory and practice of contingent claims analysis (CCA), which is successfully used today at the level of individual banks by managers,...
Persistent link: https://www.econbiz.de/10012465032
This paper analyzes the theoretical and quantitative implications of optimal capital taxation in the neoclassical growth model with aggregate shocks and incomplete markets. The model features a representative-agent economy with proportional taxes on labor and capital. I first consider the case...
Persistent link: https://www.econbiz.de/10012465260
The War for Independence left the National Government deeply in debt. The spoils from winning that war also gave it an empire of land. So, post-1783, was the National Government solvent? Was its net asset position, land assets minus debt liabilities, positive or negative? Evidence is gathered to...
Persistent link: https://www.econbiz.de/10012466803
This paper presents new updated and improved estimates of various components of governments' contribution to national wealth and its growth in the post-war period. The primary conclusions drawn are: (1). The federal government's assets, tangible and financial, are substantial; they grew more...
Persistent link: https://www.econbiz.de/10012476716
Persistent link: https://www.econbiz.de/10000112367
Persistent link: https://www.econbiz.de/10000645265
"This paper studies the cycles of nationalization and privatization in resource-rich economies. We discuss available … evidence on the drivers and consequences of privatization and nationalization, review the existing literature, and present … of the observed cycles of privatization and nationalization, and is consistent with a variety of observed phenomena …
Persistent link: https://www.econbiz.de/10011394323