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Lobbying on Entry
Perotti, Enrico; Volpin, Paolo - Tinbergen Instituut - 2004
growth opportunities. Also,higher accountability and lower income inequality are associated with more ef-fective legal …
Persistent link: https://www.econbiz.de/10011256172
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Capital Structure and the Redeployability of Tangible Assets
Campello, Murillo; Giambona, Erasmo - Tinbergen Instituut - 2011
We characterize the relation between corporate asset structure and capital structure by exploitingvariation in the salability of tangible assets. Theory suggests that tangibility increases borrowingcapacity because it allows creditors to more easily repossess a firm’s assets. Tangible assets,...
Persistent link: https://www.econbiz.de/10011255648
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Disagreement and Flexibility: A Theory of Optimal Security Issuance and Capital Structure
Boot, Arnoud W.A.; Thakor, Anjan V. - Tinbergen Instituut - 2003
In this paper we introduce flexibility as an economic concept and apply it to the firm’ssecurity issuance decision and capital structure choice. Flexibility is the ability to makedecisions that one thinks are best even when others disagree. The firm’s management valuesflexibility because it...
Persistent link: https://www.econbiz.de/10011242147
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Remittances and their Effect on Emigration Intentions in Egypt, Morocco and Turkey
Dalen, Hendrik P. van; Groenewold, George; Fokkema, Tineke - Tinbergen Instituut - 2005
What determines remittances – altruism or enlightened self-interest - and do remittances trigger additional migration? These two questions are examined empirically in Egypt, Turkey and Morocco for households with family members living abroad. Results show, first, that one cannot clearly...
Persistent link: https://www.econbiz.de/10011255585
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Finance and Growth: A Survey of the Theoretical and Empirical Literature
Eschenbach, Felix - Tinbergen Instituut - 2004
economic growth. It starts with the pioneers in this field and then classifies two main schools favouring liberal financial … literature on financial development and endogenous growth pushed the discussion back into the direction initially advocated by … financial development and economic growth. The evidence suggests, however, enormous heterogeneity across countries, regions …
Persistent link: https://www.econbiz.de/10011255816
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Quantifying Productivity Gains from Foreign Investment
Fons-Rosen, Christian; Kalemli-Ozcan, Sebnem; Sorensen, … - Tinbergen Instituut - 2013
domestic firms, we calculate the aggregate impact of foreign investment on country-level productivity growth and find it to be …
Persistent link: https://www.econbiz.de/10011256053
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Risk and Savings: a Taxonomy
Gunning, Jan Willem - Tinbergen Instituut - 2008
Risk may induce precautionary saving but it can also reduce saving. The theoretical literature recognizes both possibilities, but favors a positive effect (both for developed and developing countries); the empirical literature is divided, reporting (small) positive effects for developed...
Persistent link: https://www.econbiz.de/10011256937
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Capital Regulation and Tail Risk
Perotti, Enrico; Ratnovski, Lev; Vlahu, Razvan - Tinbergen Instituut - 2011
The paper studies risk mitigation associated with capital regulation, in a context when banks may choose tail risk assets. We show that this undermines the traditional result that higher capital reduces excess risk-taking driven by limited liability. When capital raising is costly, poorly...
Persistent link: https://www.econbiz.de/10011257356
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Interaction of Regional Population and Employment
Vermeulen, Wouter; Ommeren, Jos van - Tinbergen Instituut - 2004
improved by decomposing population growth into netinterregional migration and exogenous natural popu1ation developments. We … find thatemployment growth responds quite strongly to deviations from regional labour marketequilibria. Net migration is …
Persistent link: https://www.econbiz.de/10011255457
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Which Industries are shifting the Beveridge Curve?
Barnichon, Regis; Elsby, Michael; Hobijn, Bart; Sahin, … - Tinbergen Instituut - 2011
The negative relationship between the unemployment rate and the job openings rate, known as the Beveridge curve, has been relatively stable in the U.S. over the last decade. Since the summer of 2009, in spite of firms reporting more job openings, the U.S. unemployment rate has not declined in...
Persistent link: https://www.econbiz.de/10011255728