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The unfinished business of state-owned enterprise reform in the People's Republic of China
Holz, Carsten A. - 2019
This paper examines the progress of state-owned enterprise (SOE) reform in the People’s Republic of China. After defining SOEs and considering their scope of operation within the PRC economy, the focus of the paper is on the major reform waves that followed the deterioration of SOE...
Persistent link: https://www.econbiz.de/10012052794
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Efficiency and Environmental Impacts of Electricity Restructuring on Coal-Fired Power Plants
Chan, H. Ron; Fell, Harrison; Lange, Ian A.; Li, Shanjun - 2013
We investigate the impacts of electricity market restructuring on fuel efficiency, utilization and, new to this area … exclusively on coal-fired power plants and uses panel data covering several years after implementation of restructuring. The … estimation compares how investor-owned (IOs) plants in states with restructuring changed their behavior relative to IOs in states …
Persistent link: https://www.econbiz.de/10010292700
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Sovereign defaults: The price of haircuts
Cruces, Juan J.; Trebesch, Christoph - 2011
A main puzzle in the sovereign debt literature is that defaults have only minor effects on subsequent borrowing costs and access to credit. This paper comes to a different conclusion. We construct the first complete database of investor losses (haircuts) in all restructurings with foreign banks...
Persistent link: https://www.econbiz.de/10010278882
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The Impact of Delay: Evidence from Formal Out-of-Court Restructuring
Srhoj, Stjepan; Kovač, Dejan; Shapiro, Jacob N.; … - 2021
Bankruptcy restructuring procedures are used in most legal systems to decide the fate of businesses facing financial …
Persistent link: https://www.econbiz.de/10012657954
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Open Economy Public Finance
Wildasin, David E. - 2021
Many important questions in the field of public finance can be viewed as problems involving public policies in open economies. This paper draws together, from that perspective, a wide range of topics in public economics, emphasizing the implications of resource mobility for our understanding of...
Persistent link: https://www.econbiz.de/10013237225
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Tax Responses in Local Public Finance : The Flypaper Effect at Work
Köthenbürger, Marko; Loumeau, Gabriel - 2023
The transfer elasticity of income tax rates is an important parameter in public finance. Given the significant fiscal autonomy of Swiss municipalities, Switzerland is an ideal setting for examining behavioral responses to tax policy. Using a regression kink design, we find robust causal evidence...
Persistent link: https://www.econbiz.de/10014358325
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On the Composition of Public Spending and Taxes
Economides, George; Park, Hyun; Philippopoulos, Apostolis; … - 2015
This paper studies the implications of changes in the fiscal (spending-tax) policy mix when all categories of spending and taxes are according to their functional breakdown. In so doing, we build a general equilibrium OLG model which naturally incorporates the main functional categories of...
Persistent link: https://www.econbiz.de/10011388185
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How do electoral systems affect fiscal policy? Evidence from state and local governments, 1890 to 2005
Funk, Patricia; Gathmann, Christina - 2010
Using a new data set on Swiss state and local governments from 1890 to today, we analyze how the adoption of proportional representation affects fiscal policy. We show that proportional systems shift spending toward broad goods (e.g. education and welfare benefits) but decrease spending on...
Persistent link: https://www.econbiz.de/10010266087
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A Snapshot of Public Finance Research from Immediately Prior to the Pandemic: IIPF 2020
Agrawal, David R.; Davies, Ronald B.; LaLumia, Sara; … - 2021
As the COVID-19 pandemic has shaped public policies and government finances, it has also influenced the topics that public finance economists are researching. Because the 2020 International Institute of Public Finance (IIPF) Congress featured papers that were submitted prior to the start of the...
Persistent link: https://www.econbiz.de/10012657946
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Tax Responses in Local Public Finance: The Flypaper Effect at Work
Köthenbürger, Marko; Loumeau, Gabriel - 2023
The transfer elasticity of income tax rates is an important parameter in public finance. Given the significant fiscal autonomy of Swiss municipalities, Switzerland is an ideal setting for examining behavioral responses to tax policy. Using a regression kink design, we find robust causal evidence...
Persistent link: https://www.econbiz.de/10014290264