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The Effect of Regulatory Harmonization on Cross-Border Labor Migration : Evidence from the Accounting Profession

Bloomfield, Matthew J. - 2016

The paper examines whether international regulatory harmonization increases cross-border labor migration. To study this question, we analyze European Union (EU) initiatives that harmonized accounting and auditing standards. Regulatory harmonization should reduce economic mobility barriers,...

Persistent link: https://www.econbiz.de/10013000840

Optimal Regulation of Auditing

Pagano, Marco; Immordino, Giovanni - 2021

We study regulation of the auditing profession in a model where audit quality is unobservable and enforcing regulation is costly. The optimal audit standard falls short of the first-best audit quality, and is increasing in the riskiness of firms and in the amount of funding they seek. The model...

Persistent link: https://www.econbiz.de/10013317070

Sovereign Defaults in Court

Schumacher, Julian - 2018

For centuries, defaulting governments were immune from legal action by foreign creditors. This paper shows that this is no longer the case. Building a dataset covering four decades, we find that creditor lawsuits have become an increasingly common feature of sovereign debt markets. The legal...

Persistent link: https://www.econbiz.de/10012920182

Investor Protection and Foreign Stakeholders

Giofré, Maela - 2014

Different investor classes are endowed with different rights, and conflicting interests among them can make protections afforded to one party detrimental to another. Indeed, we find that investor protection laws have sizeable "cross" effects on foreign portfolio investment and the direction of...

Persistent link: https://www.econbiz.de/10013069664

What Slice of the Pie? The Corporate Bond Market Boom in Emerging Economies

Ayala, Diana - 2017

This paper studies the determinants of shifts in debt composition among emerging market non-financial corporates. We show that the determinants of bond market access in EMs vary with global cyclical conditions and across local and foreign currency markets. We find that the role for institutions...

Persistent link: https://www.econbiz.de/10012960099

Investor Protection and Foreign Stakeholders

Giofré, Maela - CESifo - 2010

Persistent link: https://www.econbiz.de/10008572590

House Prices and Macroprudential Policy in an Estimated DSGE Model of New Zealand

Funke, Michael - 2017

We analyse the effects of macroprudential and monetary policies and their interactions using an estimated dynamic stochastic general equilibrium (DSGE) model tailored to New Zealand. We find that the main historical drivers of house prices are shocks specific to the housing sector. While our...

Persistent link: https://www.econbiz.de/10012953951

Out of Sync Subnational Housing Markets and Macroprudential Policies

Funke, Michael - 2018

In view of regional house prices drifting apart, we examine whether regionally differentiated macroprudential policies can address financial stability concerns and moderate house price differences. To this end, we disaggregate both the household sector and the housing stock in a two-region DSGE...

Persistent link: https://www.econbiz.de/10012922555

Misreported Trade

Farhad, Mohammad - 2018

misreporting, as well as over- and under-reporting of exports and imports. Applying this method to existing bilateral trade data on …, focusing on the role of tariff and VAT rates as predictors of import under-reporting. As predicted by economic theory, case … studies, and economic intuition, we find positive correlations for both tariff and VAT rates with import under-reporting …

Persistent link: https://www.econbiz.de/10012912374

Toward an Understanding of Why Suggestions Work in Charitable Fundraising : Theory and Evidence from a Natural Field Experiment

Edwards, James; List, John A. - 2021

People respond to those who ask. Within the charitable fundraising community, the power of the ask represents the backbone of most fundraising strategies. Despite this, the optimal design of communication strategies has received less formal attention. For their part, economists have recently...

Persistent link: https://www.econbiz.de/10013315655

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