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Revisiting the progressive consumption tax : a business cycle perspective
Strehl, Wolfgang - 2019
This paper revisits the personal expenditure tax (PET), the most prominent version of a progressive consumption tax. The PET has a long intellectual tradition in economics, and the merits and demerits of this alternative to the personal income tax have been discussed at length. What has been...
Persistent link: https://www.econbiz.de/10012060899
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Machiavelli versus concave utility functions : should bads be spread out or concentrated?
Frijters, Paul; Krekel, Christian; Ulker, Aydogan - 2020
Persistent link: https://www.econbiz.de/10012196915
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The role of interbank relationships and liquidity needs
Craig, Ben R.; Fecht, Falko; Tümer-Alkan, Günseli - 2013
In this paper, we focus on the interconnectedness of banks and the price they pay for liquidity. We assess how the … to meet its liquidity demand. We use quarterly data of bilateral interbank credit exposures between all German banks from …’s willingness to pay for liquidity since they had variable rate tenders with a “pay-your-bid” price. Controlling for bank …
Persistent link: https://www.econbiz.de/10010238510
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Interbank intermediation
Bluhm, Marcel; Georg, Co-Pierre; Krahnen, Jan Pieter - 2016
macroeconomic risk factor. Overall our findings lend support to a theory of banking that involves leverage stacks, i …
Persistent link: https://www.econbiz.de/10011483090
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Protection and international sourcing
Ornelas, Emanuel (contributor); Turner, John L. (contributor) - 2008
We study the impact of import protection on relationship-specific investments, organizational choice and welfare. We show that a tariff on intermediate inputs can improve social welfare through mitigating hold-up problems. It does so if it discriminates in favor of the investing party, thereby...
Persistent link: https://www.econbiz.de/10003867892
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Monetary policy under alternative asset market structures : the case of a small open economy
De Paoli, Bianca (contributor) - 2009
Can the structure of asset markets change the way monetary policy should be conducted? Following a linear-quadratic approach, the present paper addresses this question in a New Keynesian small open economy framework. Our results reveal that the configuration of asset markets significantly...
Persistent link: https://www.econbiz.de/10003868113
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Economics and politics of alternative institutional reforms
Caselli, Francesco (contributor);  … - 2007
Persistent link: https://www.econbiz.de/10003410731
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The welfare economics of moral hazard
Arnott, Richard; Stiglitz, Joseph - 1986
Persistent link: https://www.econbiz.de/10003474097
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Theories of heterogeneous firms and trade
Redding, Stephen - 2010
"This paper reviews the recent theoretical literature on heterogeneous firms and trade, which emphasizes firm selection into international markets and reallocations of resources across firms. We discuss the empirical challenges that motivated this research and its relationship to traditional...
Persistent link: https://www.econbiz.de/10003990942
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Welfare effects of outsourcing in duopolistic markets
König, Jan - 2010
This paper shows the strategic aspects of international outsourcing in a duopolistic market. Due to different costs of integrated production and outsourcing, the choice of a firm influences the strategy of the competitor via the output price. Therefore, the resulting market constellation depends...
Persistent link: https://www.econbiz.de/10008796592