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Sustainability of Product Market Collusion Under Credit Market Imperfections
Marjit, Sugata - 2017
We study the implications of credit constraints for the sustainability of product market collusion in a bank-financed oligopoly in which firms face an imperfect credit market. We consider two situations, without and with credit rationing, i.e., with a binding credit limit. When there is credit...
Persistent link: https://www.econbiz.de/10012963378
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How should Financial Intermediation Services be Taxed?
Lockwood, Benjamin - CESifo - 2010
equilibrium when banks have monopoly power, justifying a Pigouvian tax in this case. …
Persistent link: https://www.econbiz.de/10008727277
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EU Banks Rating Assignments: Is there Heterogeneity between New and Old Member Countries?
Caporale, Guglielmo Maria; Matousek, Roman; Stewart, Chris - CESifo - 2010
differences in financial factors, which may reflect differences in country risk and the legal and regulatory framework that banks …
Persistent link: https://www.econbiz.de/10008583666
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Banking Crisis Resolution Policy - Lessons from Recent Experience - which elements are needed for robust and efficient crisis resolution?
Mayes, David G. - CESifo - 2009
The current financial crisis has sparked intense debate about how weak banks should be resolved. Despite international …
Persistent link: https://www.econbiz.de/10008583712
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Home Bank Intermediation of Foreign Direct Investment
Poelhekke, Steven - CESifo - 2011
This paper investigates the benefits of banks’ direct investment in foreign subsidiaries and branches for non …-financial multinationals. The paper builds on the literature on international banks which has primarily focused on the implications for host … the volume of FDI by home market banks boosts FDI by non-financial firms from the same home market. Domestic and third …
Persistent link: https://www.econbiz.de/10009147744
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Intermediate Goods Trade, Technology Choice and Productivity
Peng, Shin Kun - 2016
We develop a dynamic model of intermediate goods trade in which the pattern and the extent of intermediate goods trade are endogenous. We consider a small open economy whose final good production employs an endogenous array of intermediate goods, from low technology (high cost) to high...
Persistent link: https://www.econbiz.de/10013001169
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Booms, Recessions and Financial Turmoil : A Fresh Look at Investment Decisions under Cyclical Uncertainty
Chen, Yu-Fu - 2009
The paper studies the interaction between cyclical uncertainty and investment in a stochastic real option framework where demand shifts stochastically between three different states, each with different rates of drift and volatility. In our setting the shifts are governed by a three-state Markov...
Persistent link: https://www.econbiz.de/10013156881
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A Simple Explanation for the Unfavorable Tax Treatment of Investment Costs
Panteghini, Paolo M. - 2006
are offset by tax benefits arising from debt financing. Allowing partial deduction of capital cost is thus a necessary …
Persistent link: https://www.econbiz.de/10012779345
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Asymmetric Information and Overinvestment in Quality
Belleflamme, Paul - 2009
In a standard adverse selection world, asymmetric information about product quality leads to quality deterioration in the market. Suppose that a higher investment level makes the realization of high quality more likely. Then, if consumers observe the investment (but not the realization of...
Persistent link: https://www.econbiz.de/10012763910
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The Welfare Loss from Differential Taxation of Sectors in Germany
Radulescu, Doina Maria - 2008
In the spirit of Harberger, we apply a dynamic computable general equilibrium (CGE) model and estimate the excess burden stemming from the tax-induced distortion in the allocation of capital across the corporate and the non-corporate sectors in Germany. In doing so, we perform a counterfactual...
Persistent link: https://www.econbiz.de/10012769707