equilibrium approach that considers both demand and supply responses. We demonstrate that the equilibrium impact of capital gains ….e., capital gains taxes decrease supply). Depending on time periods and stock characteristics, either effect may dominate. Using …This paper examines the impact on asset prices from a reduction in the long-term capital gains tax rate using an …

is consistent with theories of capital structure that imply optimal financial leverage depends on earnings prospects and …

equity into their capital structures in situations where adverse selection problems make a conventional stock issue …

The promise of contingent convertible capital securities (CoCos) as a "bail-in" solution has been the subject of …

all domestic demand shocks (deleveraging, fiscal consolidation), while a capital market union is necessary to share supply … banking union and, in the presence of supply shocks, from a capital market union …We compare risk sharing in response to demand and supply shocks in four types of currency unions: segmented markets; a …

We find that the supply of and demand for insurance for tree crops is much larger than for non-tree crops. Crop … for these specialty crops has little benefit for consumers, even when it generates a large supply response …

influences the supply of amenities and local public goods. Pollution, congestion, and the quality of public education are …