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On the evolution of market institutions : the platform design paradox
Alós-Ferrer, Carlos (contributor);  … - 2007
Persistent link: https://www.econbiz.de/10003498643
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Do better capitalized banks lend less? : long-run panel evidence from Germany
Buch, Claudia M.; Prieto, Esteban - 2012
of increased bank capital in terms of reduced loans could be substantial, there are good reasons to believe that the … between the capitalization of the banking sector and bank loans using panel cointegration models. We study the evolution of … the German economy for the past 60 years. We find no evidence for a negative impact of bank capital on business loans …
Persistent link: https://www.econbiz.de/10009570042
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Voluntary equity, project risk, and capital requirements
Haufler, Andreas; Lülfesmann, Christoph - 2022
choose their portfolio risk, bank size, and capital holdings. Banks voluntarily hold equity when the buffer effect against … larger, choose riskier portfolios, and have less equity. Binding capital requirements or levies on bank borrowing are shown …
Persistent link: https://www.econbiz.de/10012797734
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Finance, talent allocation, and growth
D'Acunto, Francesco; Frésard, Laurent - 2018
The growing finance wage premium is related to a modest net reallocation of skilled workers from non-finance sectors into finance in a broad sample of 24 countries over 35 years. The reallocation is higher when the finance wage premium grows faster than the contribution of the financial sector...
Persistent link: https://www.econbiz.de/10011794229
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Banks, credit reallocation, and creative destruction
Keuschnigg, Christian; Kogler, Michael; Matt, Johannes - 2022
bank credit reallocation with endogenous firm entry and exit that allows for both theoretical and quantitative analysis. By …
Persistent link: https://www.econbiz.de/10013453926
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Balanced growth despite Uzawa
Grossman, Gene M.; Helpman, Elhanan; Oberfield, Ezra; … - 2016
Evidence for the United States suggests balanced growth despite falling investment-good prices and less than unitary elasticity of substitution between capital and labor. This is inconsistent with the Uzawa Growth Theorem. We extend Uzawa.s theorem to show that introducing human capital...
Persistent link: https://www.econbiz.de/10011434429
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That elusive elasticity : a long-panel approach to estimating the capital-labor substitution elasticity : presented at CESifo Area Conference on Public Sector Economics, May 2004
Chirinko, Robert S.; Fazzari, Steven M.; Meyer, Andrew P. - 2004
The elasticity of substitution between capital and labor features prominently in several areas of economic research. However, a consensus estimate remains elusive. We develop an estimation strategy that filters panel data in an original way and avoids several pitfalls - difficult-to-specify...
Persistent link: https://www.econbiz.de/10011450090
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Capital-skill complementarity and the emergence of labor emancipation
Ashraf, Quamrul H.; Cinnirella, Francesco; Galor, Oded; … - 2017
This paper advances a novel hypothesis regarding the historical roots of labor emancipation. It argues that the decline of coercive labor institutions in the industrial phase of development has been an inevitable by-product of the intensification of capital-skill complementarity in the...
Persistent link: https://www.econbiz.de/10011638304
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Implementing partial tax harmonization in an asymmetric tax competition game with repeated interaction
Itaya, Jun-ichi; Okamura, Makoto; Yamaguchi, Chikara - 2015
This paper investigates the conditions under which partial harmonization for capital taxation is sustained in a repeated interactions model of tax competition when there are three countries with heterogenous capital endowments. We show that regardless of the structure of the coalition (i.e. full...
Persistent link: https://www.econbiz.de/10010509603
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Taxation and the optimal constraint on corporate debt finance
Sørensen, Peter Birch - 2014
The tax bias in favour of debt finance under the corporate income tax means that corporate debt ratios exceed the socially optimal level. This creates a rationale for thin-capitalization rules limiting the amount of debt that qualifies for interest deductibility. This paper sets up a model of...
Persistent link: https://www.econbiz.de/10010438191