Similar Search Results

Exponent of cross-sectional dependence : estimation and inference

Bailey, Natalia; Kapetanios, George; Pesaran, M. Hashem - 2012

An important issue in the analysis of cross-sectional dependence which has received renewed interest in the past few years is the need for a better understanding of the extent and nature of such cross dependencies. In this paper we focus on measures of cross-sectional dependence and how such...

Persistent link: https://www.econbiz.de/10009488893

Corporate profit shifting and the role of tax havens : evidence from German country-by-country reporting data

Fuest, Clemens; Hugger, Felix; Neumeier, Florian - 2021

annual tax base loss for Germany amounts to EUR 5.4 billion. Adding estimates of profit shifting by multinationals not … covered by the CbC data yields an overall estimate for profits shifted out of Germany to tax havens of EUR 19.1 billion per … year, corresponding to 4.3% of the profits reported by these firms in Germany. This implies a tax revenue loss due to …

Persistent link: https://www.econbiz.de/10012417748

Counterfactual analysis in macroeconometrics : an empirical investigation into the effects of quantitative easing

Pesaran, M. Hashem; Smith, Ron - 2012

This paper is concerned with ex ante and ex post counterfactual analyses in the case of macroeconometric applications where a single unit is observed before and after a given policy intervention. It distinguishes between cases where the policy change affects the model's parameters and where it...

Persistent link: https://www.econbiz.de/10009571104

Causal effects of the Fed's large-scale asset purchases on firms' capital structure

Nocera, Andrea; Pesaran, M. Hashem - 2022

This paper investigates the short- and long-term impacts of the Federal Reserve's large-scale asset purchases (LSAPs) on the capital structure of U.S. non-financial firms. To isolate the effects of LSAPs from the impact of concurrent macroeconomic conditions, we exploit cross-industry variations...

Persistent link: https://www.econbiz.de/10013176956

A counterfactual economic analysis of Covid-19 using a threshold augmented multi-country model

Chudik, Alexander; Mohaddes, Kamiar; Pesaran, M. Hashem; … - 2020

This paper develops a threshold-augmented dynamic multi-country model (TG-VAR) to quantify the macroeconomic effects of Covid-19. We show that there exist threshold effects in the relationship between output growth and excess global volatility at individual country levels in a significant...

Persistent link: https://www.econbiz.de/10012293790

Minimum wage incidence : the case for Germany

Knabe, Andreas (contributor); Schöb, Ronnie (contributor) - 2008

Using data from the 2006 wave of the German Socio-Economic Panel (GSOEP), this paper analyzes how a minimum wage affects employment, wage inequality, public expenditures, and aggregate income in the low-wage sector. It is shown that a statutory minimum wage of EUR 7.50 per hour would cost...

Persistent link: https://www.econbiz.de/10003771867

The role of the corporate income tax as an automatic stabilizer

Büttner, Thiess; Fuest, Clemens - 2009

This paper analyses the effectiveness of the corporate income tax as an automatic stabilizer. It employs a unique firm-level dataset of German manufacturers combining financial statements with firm-specific information about credit market restrictions. The results show that approximately 20 per...

Persistent link: https://www.econbiz.de/10003887453

Minimum wages and their alternatives : a critical assessment

Knabe, Andreas; Schöb, Ronnie - 2008

issues for the exemplary case of Germany that suffers from high unemployment among low-skilled workers and rising wage … in Germany, on employment, wage inequality, public expenditures, and incomes of poor households: 1) a statutory minimum …

Persistent link: https://www.econbiz.de/10003803539

Corporate tax Reform and foreign direct investment in Germany : evidence from firm-level data

Becker, Johannes (contributor); Fuest, Clemens (contributor) - 2006

Persistent link: https://www.econbiz.de/10003364058

Expected effects of the US tax reform on other countries : global and local survey evidence

Boumans, Dorine; Fuest, Clemens; Krolage, Carla; … - 2019

companies. The effects on investment in Germany are ambiguous: While some firms substitute between investment locations, others …

Persistent link: https://www.econbiz.de/10011966873