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We explore how changes in capital-based macroprudential regulation in the euro area affect the exposure of national banking sectors to domestic government debt, thus strengthening or weakening the sovereign-bank nexus. To do so, we construct a measure of macroprudential policy based on the...
Persistent link: https://www.econbiz.de/10013324211
The offshoring of production by multinational firms has expanded dramatically in recent decades, increasing these firms’ potential for economic growth and technological transfers across countries. What determines the location of offshore production? How do countries' policies and...
Persistent link: https://www.econbiz.de/10012892039
We develop a model where firms profit from coercing workers into employment under conditions violating national law and international conventions and where bureaucrats benefit from accepting bribes from detected perpetrators. Firms and bureaucrats are heterogeneous. Employers differ in their...
Persistent link: https://www.econbiz.de/10012859047
In this paper we study how differences in the quality of countries’ institutions affect the impact of natural hazards in these countries. To do so, we first build a new data set that allows us to adequately control for countries’ development and geological characteristics and,...
Persistent link: https://www.econbiz.de/10014264154
My empirical results in Potrafke (2012) confirm past conclusions that Muslim-majority countries are less likely to be democratic. Hanusch takes issue with my results - and by inference with all past empirical results on the relation between Islam and democracy. In his comment on my study,...
Persistent link: https://www.econbiz.de/10010291527
In many European countries established leftwing and rightwing parties have been threatened by policy convergence and, in turn, new populist parties that offer more polarized platforms. I investigate whether government ideology influences dragnet-controls - controls of persons conducted by the...
Persistent link: https://www.econbiz.de/10012892136
Recent theories of the Long Divergence between Middle Eastern and Western European economies focus on Middle Eastern (over-)reliance on religious legitimacy, use of slave soldiers, and persistence of restrictive proscriptions of religious (Islamic) law. These theories take as exogenous the...
Persistent link: https://www.econbiz.de/10013245626
In the aftermath of the Eurozone crisis, a battle of ideas emerged over whether ordoliberalism is part of the cause or the solution of economic problems in Europe. While German ordoliberals argued that their policy proposals were largely ignored before, during and after the crisis, critics saw...
Persistent link: https://www.econbiz.de/10012492957
In the aftermath of the Eurozone crisis, a battle of ideas emerged over whether ordoliberalism is part of the cause or the solution of economic problems in Europe. While German ordoliberals argued that their policy proposals were largely ignored before, during and after the crisis, critics saw...
Persistent link: https://www.econbiz.de/10013251261
We first present a simple model of post-crisis policymaking driven by both public and private interests. Using a novel dataset covering 94 countries between 1973 and 2015, we then establish that financial crises can lead to government interventions in financial markets. Consistent with a public...
Persistent link: https://www.econbiz.de/10012599218