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The threat of systemic risk in banking: evidence for Europe
Schüler, Martin - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2002
This paper attempts to answer the question whether the threat of systemic risk in banking exists only on a national or … on a European level. Following De Nicolo and Kwast (2001), mean rolling-window correlations between bank stock returns …
Persistent link: https://www.econbiz.de/10005097758
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Systemic Risk in European Banking: Evidence from Bivariate GARCH Models
Schüler, Martin; Schröder, Michael - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2003
This paper attempts to assess the Europe-wide systemic risk in banking. We employ a bivariate GARCH model to estimate … conditional correlations between European bank stock indices. These correlations are used as an indication for the … interdependencies amongst the banking business in Europe and hence for the systemic risk potential. We employ several tests to assess …
Persistent link: https://www.econbiz.de/10005097915
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Incentive Problems in Banking Supervision: The European Case
Schüler, Martin - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2003
This paper discusses the incentive conflicts that arise in banking supervision in the EU in a principal-agent framework …
Persistent link: https://www.econbiz.de/10005097935
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What drives the demand of monetary financial institutions for domestic government bonds? Empirical evidence on the impact of Basel II and Basel III
Lang, Michael; Schröder, Michael - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2014
This paper examines the treatment of sovereign debt exposure within the Basel framework and measures the impact of bank … regulation on the demand of Monetary Financial Institutions (MFI) for marketable sovereign debt. Our results suggest that bank …
Persistent link: https://www.econbiz.de/10011122561
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Innovation, employment growth, and foreign ownership of firms: A European perspective
Dachs, Bernhard; Peters, Bettina - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2013
This paper examines how foreign-owned and domestically owned firms transform innovation into employment growth. The empirical analysis, based on the model of Harrison, Jaumandreu, Mairesse and Peters (2008) and CIS data for 16 countries, reveals important differences between the two groups: Due...
Persistent link: https://www.econbiz.de/10010957608
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Trade and technology: New evidence on the productivity sorting of firms
Bertschek, Irene; Hogrefe, Jan; Rasel, Fabienne - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2013
Using a unique German firm-level data set, we provide empirical evidence for a productivity sorting along two dimensions: international activity and technology choice. We consider domestic and exporting firms and measure technology choice by firms' actual use of advanced information technology...
Persistent link: https://www.econbiz.de/10010957613
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Extending taxation of interest and royalty income at source: An option to limit base erosion and profit shifting?
Finke, Katharina; Fuest, Clemens; Nusser, Hannah; … - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2014
This paper discusses tax policy measures to reduce corporate tax avoidance by extending taxation in the source country without imposing double taxation. We focus on four options: Bilaterally restricting interest and royalty deductibility, introducing an inverted tax credit system, levying...
Persistent link: https://www.econbiz.de/10010957626
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Effects of territorial and worldwide corporation tax systems on outbound M&As
Feld, Lars P.; Ruf, Martin; Scheuering, Uwe; Schreiber, … - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2013
Repatriation taxes reduce the competitiveness of multinational firms from tax credit countries when bidding for targets in low tax countries. This comparative disadvantage with respect to bidders from exemption countries violates ownership neutrality, which results in production inefficiencies...
Persistent link: https://www.econbiz.de/10010957665
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Transparency in financial reporting: Is country-by-country reporting suitable to combat international profit shifting?
Evers, Maria Theresia; Meier, Ina; Spengel, Christoph - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2014
Aggressive tax planning efforts of highly profitable multinational companies (Base Erosion and Profit Shifting (BEPS)) have recently become the subject of intense public debate. As a response, several international initiatives and parties have called for more transparency in financial reporting,...
Persistent link: https://www.econbiz.de/10010957713
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Profit shifting and 'aggressive' tax planning by multinational firms: Issues and options for reform
Fuest, Clemens; Spengel, Christoph; Finke, Katharina; … - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2013
This paper discusses the issue of profit shifting and 'aggressive' tax planning by multinational firms. The paper makes two contributions. Firstly, we provide some background information to the debate by giving a brief overview over existing empirical studies on profit shifting and by describing...
Persistent link: https://www.econbiz.de/10010957732