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Several countries have recently introduced national capital standards exceeding the internationally coordinated Basel III rules, thus suggesting a ‘race to the top' in capital standards. We study regulatory competition when banks are heterogeneous and give loans to firms that produce output in...
Persistent link: https://www.econbiz.de/10012993695
), that higher levels of income inequality are associated with more terrorism. Consistent with relative deprivation theory, we …
Persistent link: https://www.econbiz.de/10012994278
This comment provides a reply to Prof. Feige's paper with the title “Reflections on the Meaning and Measurement of Unobserved Economies: What do we really know about the ‘Shadow Economy'?”, in which Prof. Feige heavily criticizes me. I show that the same critique which Prof. Feige raises...
Persistent link: https://www.econbiz.de/10012994281
Currency mismatch makes a debtor country suffer from domestic depreciation by magnifying the burden of its external debt. Because external debt can be repaid by exporting more than importing, a crucial channel for inducing recovery is net exports. However, the argument that domestic depreciation...
Persistent link: https://www.econbiz.de/10013003210
provisions in a two-period model where foreign investment is subject to domestic regulation and a holdup problem. It shows that …
Persistent link: https://www.econbiz.de/10012903484
In this paper we explore the role that demand uncertainty plays for the offshoring decision, and the role that offshoring plays for domestic volatility of employment. Offshoring is modeled as in Antràs & Helpman (2004), but we assume complete contracts. Firms are heterogeneous as in Melitz...
Persistent link: https://www.econbiz.de/10012986173
For forecasting and economic analysis many variables are used in logarithms (logs). In time series analysis this transformation is often considered to stabilize the variance of a series. We investigate under which conditions taking logs is beneficial for forecasting. Forecasts based on the...
Persistent link: https://www.econbiz.de/10012764276
them to shed light on their role for bilateral foreign direct investment (FDI) stocks among the economies considered. Not …
Persistent link: https://www.econbiz.de/10012771798
The perpetual inventory method used for the construction of education data per country leads to systematic measurement error. This paper analyses the effect of this measurement error on GDP regressions. There is a systematic difference in the education level between census data and observations...
Persistent link: https://www.econbiz.de/10012774497
The multinationalization of corporate investment in recent years has given rise to a number of international tax … capital and so facilitate investment. Both the welfare effects of and the optimal response to international tax planning are … rise in optimal corporate tax rates, and a decline in multinational investment. Thus fears of a quot;race to the bottomquot …
Persistent link: https://www.econbiz.de/10012777300