Showing 1 - 10 of 125
We estimate the impact of the COVID-19 crisis on business failures among small and medium size enterprises (SMEs) in seventeen countries using a large representative firm-level database. We use a simple model of firm cost-minimization and measure each firm's liquidity shortfall during and after...
Persistent link: https://www.econbiz.de/10012481180
liberalization in Hungary, a policy reform that led to capital inflows. We show that firms in capital intensive industries expand, as …
Persistent link: https://www.econbiz.de/10012481566
This paper assesses the prospects of a 2021 time bomb in SME failures triggered by the generous support policies enacted during the 2020 COVID-19 crisis. Policies implemented in 2020, on their own, do not create a 2021 "time-bomb" for SMEs. Rather, business failures and policy costs remain...
Persistent link: https://www.econbiz.de/10012482634
employer-employee data (LEED) from Hungary containing 1.35mln worker-year observations for 21,238 firms from 1986 to 2003. We …
Persistent link: https://www.econbiz.de/10012465658
This paper analyzes the interaction between corporate taxes and corporate governance. We show that the characteristics of a taxation system affect the extraction of private benefits by company insiders. A higher tax rate increases the amount of income insiders divert and thus worsens governance...
Persistent link: https://www.econbiz.de/10012467710
Hungary. While the examined countries have missed inflation targets often by a large margin, they nevertheless progressed well …
Persistent link: https://www.econbiz.de/10012469031
membership (Czech Republic, Hungary, Poland, and Slovakia). A Multi-Annual Fiscal Adjustment Strategy (MAFAS) and a Pre …
Persistent link: https://www.econbiz.de/10012472253
Transition in Central Europe is four years old. State firms which dominated the economy are struggling with market forces. A new private sector quickly emerged and has taken hold. Unemployment, which did not exist, is high and still increasing. Will this process of transition accelerate, or slow...
Persistent link: https://www.econbiz.de/10012474189
Poland, Hungary. and Czechoslovakia and develop a model of changing support for reforms during the transition to a market … massive vacancies. The dispersion of wages increased substantially in Hungary and Poland though not in Czechoslovakia. My …
Persistent link: https://www.econbiz.de/10012474756
Eastern European countries have experienced sharp declines in real GDP since 1990. One of the reasons for this decline is the Soviet trade shock, deriving from the collapse of the CMEA and of traditional export markets in the Soviet Union. This paper is an attempt to quantify the magnitude of...
Persistent link: https://www.econbiz.de/10012474863