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Testing Uncovered Interest Rate Parity Using LIBOR
Omer, Muhammad - 2013
We test Uncovered Interest Parity (UIP) using LIBOR interest rates for a wide range of maturities. In contrast to other markets, LIBOR markets have minimal frictions which could lead to rejecting UIP. Using panel unit root test suggested by Palm, Smeekes, and Urbain (2010) and cointegration...
Persistent link: https://www.econbiz.de/10013090772
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Systematic Consumption Risk in Currency Returns
Hoffmann, Mathias - 2013
worldwide downturns. Our consumption carry factor prices the cross section of portfolios of currencies sorted on various …
Persistent link: https://www.econbiz.de/10013080499
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Interest Income Tax Evasion, the EU Savings Directive, and Capital Market Effects
Klautke, Tina - 2013
The Savings Directive has been celebrated as a major political break-through in coordinating taxation in Europe. Against this background, the present paper evaluates the real-world effects of this directive. The directive has left a loophole by providing grandfathering (exemption from...
Persistent link: https://www.econbiz.de/10012753596
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Modeling Optimism and Pessimism in the Foreign Exchange Market
De Grauwe, Paul; Rovira Kaltwasser, Pablo - 2021
In this paper we model how the existence of different beliefs about the underlying fundamental value of a currency affects the dynamics of the exchange rate. We find that a divergence of beliefs creates the potential for waves of optimism and pessimism that alternate in an unpredictable way....
Persistent link: https://www.econbiz.de/10013317108
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Testing Uncovered Interest Rate Parity Using LIBOR
Omer, Muhammad; Haan, Jakob de; Scholtens, Bert - CESifo - 2012
We test Uncovered Interest Parity (UIP) using LIBOR interest rates for a wide range of maturities. In contrast to other markets, LIBOR markets have minimal frictions which could lead to rejecting UIP. Using panel unit root test suggested by Palm, Smeekes, and Urbain (2010) and cointegration...
Persistent link: https://www.econbiz.de/10010552442
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Systematic Consumption Risk in Currency Returns
Hoffmann, Mathias; Suter, Rahel - CESifo - 2013
worldwide downturns. Our consumption carry factor prices the cross section of portfolios of currencies sorted on various …
Persistent link: https://www.econbiz.de/10010667417
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The Impact of Dividend Taxation on Dividends and Investment: New Evidence Based on a Natural Experiment
Kari, Seppo; Karikallio, Hanna; Pirttilä, Jukka - CESifo - 2009
-in-differences estimation and matching methods, indicate that dividends declined somewhat in closely held corporations that faced a tax increase …
Persistent link: https://www.econbiz.de/10005013938
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The Optimal Taxation of Dividends in a Small Open Economy
Fuest, Clemens; Huber, Bernd - CESifo - 2000
This paper analyses the optimal taxation of dividends and other types of income from portfolio investment. We show that …, in an open economy, it is not desirable to offer double taxation relief for dividends paid by domestic firms to domestic … dividend income at the household level. A reduction of the tax burden on dividends is therefore merely an undesirable subsidy …
Persistent link: https://www.econbiz.de/10005181487
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Anticipating Tax Change: Evidence from the Finnish Corporate Income Tax Reform of 2005
Kari, Seppo; Karikallio, Hanna; Pirttilä, Jukka - CESifo - 2008
Using register-based panel data covering all Finnish firms in 1999-2004, we examine how corporations anticipated the 2005 dividend tax increase via changes in their dividend and investment policies. The Finnish capital and corporate income tax reform of 2005 creates a useful opportunity to...
Persistent link: https://www.econbiz.de/10005181555
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Pay as you Go: A New Proposal for Museum Pricing
Frey, Bruno S.; Steiner, Lasse - CESifo - 2010
goals. The classical ones are entry prices and free entry. The museum club solution or exit donations allow for various … additional goals. Each scheme has clear advantages and disadvantages. We propose an innovative pricing instrument: Exit prices …
Persistent link: https://www.econbiz.de/10008572533