that the resulting regulatory capital scheme using expected shortfall compares favorably to the current Basle Accord …

.nancing when the bank faces binding capital constraints and there is asymmetric information about the quality of its loans …

This paper investigates the scope for international coordination of capital income and profit taxation.The paper … considers a world of many symmetric countries where public goods are financed by taxes on capital income and on profits.In the … open economy, the authorities have at their disposal a residence-based saving tax, a source-based investment tax and a …

).Input-output analysis enables us to calculate rent for the Canadian sectors over a thirty-year period and to decompose it in its capital and … interesting result however: the components influence performance in opposite directions.Capital rent has a positive role and labor … as a source of funding for R&D applies to capital and the argument that rent yields slack pertains to labor. …

stock of capital.Here capital ages if the investment/capital ratio falls short of the inverse of the capital age, as a first …, when investment accelerated, the vintage-adjusted capital growth rate well exceeded the BEA growth rate, and …The age structure of capital plays an important role in the measurement of productivity.It has been argued that the …

induces moral hazard. Therefore, we introduce a fiscal authority that is able to bail out the bank by injecting capital. This … authority faces a trade-off: when it imposes strict bailout conditions, investment increases but moral hazard ensues. Milder … bailout conditions reduce excessive risk taking at the expense of investment. This resembles the current situation on …

. Liquidation values depend on how many firms are liquidated, and therefore on the industry equilibrium of capital structures and of … that even if in equilibrium all firms use the same technology, firms will use widely different capital structures. …

In this paper the e.ect of environmental policy on the composition of capital is investigated.By allowing for non … in which their results do not carry over.In particular, we show that the way acquisition cost of investment decreases … with the age of the capital stock is of crucial importance.Also it is obtained that environmental policy has opposite e …