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Up or down? : capital income taxation in the United States and the United Kingdom

Polito, Vito - 2010

take into account financial constraints on dividend policy faced by firms investing in both the United States and the … United Kingdom. The paper incorporates financial constraints on dividend policy into the analytical framework for the … stable. -- capital income taxation ; dividend policy ; effective marginal tax rates ; financial constraints …

Persistent link: https://www.econbiz.de/10008749020

Low skill but high volatility?

Buch, Claudia M.; Pierdzioch, Christian - 2009

Globalization may impose a double-burden on low-skilled workers. On the one hand, the relative supply of low-skilled labor increases. This suppresses wages of low-skilled workers and/or increases their unemployment rates. On the other hand, low-skilled workers typically face more limited access...

Persistent link: https://www.econbiz.de/10003850520

Financial frictions and inflation differentials in a monetary union

Hristov, Nikolay; Hülsewig, Oliver; Wollmershäuser, Timo - 2010

This paper employs a stylized New Keynesian DSGE model for a monetary union to analyze whether cyclical inflation differentials can be explained by cross-country differences concerning the characteristics of financial markets. Our results suggest that empirically plausible degrees of...

Persistent link: https://www.econbiz.de/10008732365

The political economy of post-compulsory education policy with endogenous credit constraints

Anderberg, Dan (contributor); … - 2008

Persistent link: https://www.econbiz.de/10003711902

Financial stability and monetary policy : a framework

Illing, Gerhard (contributor) - 2007

Persistent link: https://www.econbiz.de/10003496868

Profit taxation and finance constraints

Keuschnigg, Christian; Ribi, Evelyn - 2010

In the absence of financing frictions, profit taxes reduce investment by their effect on the user cost of capital. With finance constraints due to moral hazard, investment becomes sensitive to cash-flow and own equity of firms. We propose a corporate finance model of investment and derive three...

Persistent link: https://www.econbiz.de/10003926261

Expert politicians, electoral control, and fiscal restraints

Dulleck, Uwe; Wigger, Berthold U. - 2012

Fiscal restraints have been argued to force today's governments to internalize the externalities that result from extensive borrowing on future electorates and governments as well as on other countries by causing fiscal instability. In this article we provide an alternative argument for fiscal...

Persistent link: https://www.econbiz.de/10009490602

Housing market dynamics : on the contribution of income shocks and credit constraints

Ortalo-Magné, François; Rady, Sven - 2001

This paper presents a dynamic theory of housing market fluctuations. It develops a life-cycle model where households …

Persistent link: https://www.econbiz.de/10011398664

Regional implications of financial market development : credit rationing, trade, and location

Ehrlich, Maximilian von; Seidel, Tobias - 2013

We develop a heterogeneous-firms model with trade in goods, labor mobility and credit constraints due to moral hazard. Mitigating financial frictions reduces the incentive of high-skilled workers to migrate to one region such that an unequal distribution of industrial activity becomes less...

Persistent link: https://www.econbiz.de/10009690748

Second-best income taxation with endogenous human capital and borrowing constraints

Jacobs, Bas; Yang, Hongyan - 2013

We formulate a two-period life-cycle model of saving, labor supply, and human capital investments when individuals differ in ability and initial wealth. Borrowing constraints prevent individuals to optimally smooth consumption over the life-cycle and to optimally invest in human capital. We show...

Persistent link: https://www.econbiz.de/10009722419

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