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A Q-theory of banks
Begenau, Juliane; Bigio, Saki; Majerovitz, Jeremy; … - 2021
We propose a dynamic bank theory with a delayed loss recognition mechanism and a regulatory capital constraint at its core. The estimated model matches four facts about banks' Tobin's Q that summarize bank leverage dynamics. (1) Book and market equity values diverge, especially during crises;...
Persistent link: https://www.econbiz.de/10012649212
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The tax elasticity of financial statement income : implications for current reform proposals
Dharmapala, Dhammika - 2020
Current reform proposals in international and corporate tax (most notably the OECD's GloBE proposal) envisage taxing financial statement income. This paper develops a conceptual framework – based on the literature on the elasticity of taxable income – for the welfare analysis of such...
Persistent link: https://www.econbiz.de/10012270372
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Parents' desire to make equal inter vivos transfers
Halvorsen, Elin (contributor);  … - 2008
This study argues that parents have a desire for dividing equally between their children, and that this motive applies to transfers of gifts inter vivos. We suggest that the equal division motive competes with traditional altruism: support to the child or the children with greatest needs. When...
Persistent link: https://www.econbiz.de/10003790974
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'Large' vs. 'small' players : a closer look at the dynamics of speculative attacks
Bjønnes, Geir H.; Holden, Steinar; Rime, Dagfinn; … - 2009
What is the role of large playersʺ like hedge funds and other highly leveraged institutions in speculative attacks? In recent theoretical work, large players may induce an attack by an early move, providing information to smaller agents. In contrast, many observers argue that large players are...
Persistent link: https://www.econbiz.de/10003806083
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Neutral taxation of shareholder income? : corporate responses to an announced dividend tax
Alstadsæter, Annette; Fjaerli, Erik - 2009
The introduction of the 2006 Norwegian shareholder income tax was announced in advance, and it increased top marginal tax rates on individual dividend income from zero to 28 percent. We document strong timing effects on dividend payout on a large panel of non-listed corporations, with a surge of...
Persistent link: https://www.econbiz.de/10003806745
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Income mobility of owners of small businesses when boundaries between occupations are vague
Thoresen, Thor Olav - 2009
in Norway 1993-2003 by estimating income transition models for different definitions of occupational status. Business …
Persistent link: https://www.econbiz.de/10003850142
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Measuring the consumption value of higher education
Alstadsæter, Annette - 2009
particular type of higher education. We document that the individuals who attended Teachers' College in Norway during the 1960's …
Persistent link: https://www.econbiz.de/10003887465
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Is Norway's bird-in-hand stabilization fund prudent enough? : fiscal reactions to hydrocarbon windfalls and graying populations
Harding, Torfinn; Ploeg, Frederick van der - 2009
debt management strategies adopted by Norway and compare these with rules that would prevail under the permanent income … hypothesis and bird-in-hand rule. We conclude that the fiscal reaction functions adopted by Norway have to some extent been … current fiscal rules, since Norway is on a trajectory of turning a current net asset-GDP-ratio close to one into a net debt …
Persistent link: https://www.econbiz.de/10003897374
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Voting when the stakes are high
Andersen, Jørgen Juel; Fiva, Jon H.; Natvik, Gisle James - 2010
Rational choice theories of electoral participation stress that an individual's decision to vote depends on her expected net benefit from doing so. If this instrumental motive is relevant, then turnout should be higher in elections where more is at stake. We test this prediction, by studying how...
Persistent link: https://www.econbiz.de/10008696687
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Longitudinal analysis of generic substitution
Dalen, Dag Morten; Locatelli Biey, Marilena; Strøm, Steinar - 2010
Using an extensive longitudinal dataset extracted from the Norwegian Prescription Database (NorPD) containing all prescriptions written in the period January 2004 to June 2007, we selected two particular drugs (chemical substances) used against cholesterol. The two brand-name products on the...
Persistent link: https://www.econbiz.de/10008697144