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Evidence of Differences in the Effectiveness of Safety-Net Management in European Union Countries

Carbo-Valverde, Santiago - 2008

EU financial safety nets are social contracts that assign uncertain benefits and burdens to taxpayers in different … develops a way to estimate how well markets and regulators in 14 of the EU-15 countries have controlled deposit … safety-net benefits for individual EU financial institutions. For stockholder-owned banks, input data feature 1993-2004 data …

Persistent link: https://www.econbiz.de/10012464865

Incentive Conflict In Central-Bank Responses to Sectoral Turmoil in Financial Hub Countries

Kane, Edward J. - 2007

National safety nets are imbedded in country-specific regulatory cultures that encompass contradictory goals of nationalistic welfare maximization, merciful treatment of distressed institutions, and bureaucratic blame avoidance. Focusing on this goal conflict, this paper develops two hypotheses....

Persistent link: https://www.econbiz.de/10012465053

Financial Integration within EU Countries : The Role of Institutions, Confidence and Trust

Ekinci, Mehmet Fatih - 2007

Obstfeld and Taylor (2004). We find evidence that capital market integration within the EU is less than what is implied by …

Persistent link: https://www.econbiz.de/10012465209

Inadequacy of Nation-Based and VaR-Based Safety Nets in the European Union

Kane, Edward J. - 2006

-at-risk and bank capital make it unlikely that the crisis-prevention and crisis-resolution schemes incorporated in Basel II and EU …

Persistent link: https://www.econbiz.de/10012466499

Can the European Community Afford to Neglect the Need for More Accountable Safety-Net Management?

Kane, Edward J. - 2005

As financial institutions and markets transact more and more cross-border business, gaps and flaws in national safety nets become more consequential. Because citizens of host (home) countries may be made to pay for mistakes made in the home (host) country, Basel's lead-regulator paradigm...

Persistent link: https://www.econbiz.de/10012466813

Is It Is or Is It Ain't My Obligation? Regional Debt in a Fiscal Federation

Cooper, Russell - 2005

This paper studies the repayment of regional debt in a multi-region economy with a central authority: who pays the obligation issued by a region? With commitment, a central government will use its taxation power to smooth distortionary taxes across regions. Absent commitment, the central...

Persistent link: https://www.econbiz.de/10012467021

The Euro and the Stability Pact

Feldstein, Martin - 2005

This paper begins by discussing the inherent conflict between the simultaneous existence of a single currency for the countries of the European Economic and Monetary Union (EMU) and the independent fiscal policies of those countries. The Stability and Growth Pact was an attempt to reconcile that...

Persistent link: https://www.econbiz.de/10012467436

Immigration, Jobs and Employment Protection : Evidence from Europe

D'Amuri, Francesco - 2011

In this paper we analyze the effect of immigrants on native jobs in fourteen Western European countries. We test whether the inflow of immigrants in the period 1996-2007 decreased employment rates and/or if it altered the occupational distribution of natives with similar education and age. We...

Persistent link: https://www.econbiz.de/10012461519

Capping Individual Tax Expenditure Benefits

Feldstein, Martin - 2011

Simulations using the NBER TAXSIM model project that a 2 percent cap would raise $278 billion in 2011. The paper analyzes the revenue increases by AGI class. The 2 percent cap would also cause substantial simplification by inducing more than 35 million taxpayers to shift from itemizing their...

Persistent link: https://www.econbiz.de/10012461736

Safety-Net Benefits Conferred on Difficult-to-Fail-and-Unwind Banks in the US and EU Before and During the Great Recession

Carbo-Valverde, Santiago - 2011

This paper models and estimates ex ante safety-net benefits at a sample of large banks in US and Europe during 2003-2008. Our results suggest that difficult-to-fail and unwind (DFU) banks enjoyed substantially higher ex ante benefits than other institutions. Safety-net benefits prove...

Persistent link: https://www.econbiz.de/10012461870