question in the context of a heterogeneousfirm RBC model with persistent firm-level productivity shocks and lumpy capital …

cross-sections of firm-level real value added and Solow residual innovations, as well as capital and employment adjustment …

After decades of steady liberalisation and financial market development, emerging capital markets experienced … unparalleled capital inflows in the aftermath of the emerging markets crisis in the 1990s. This paper studies portfolio investment … decisions of German banks in 30 emerging capital markets using monthly data from 2002 to 2007. The use of a dynamic Time …

reduced their foreign currency exposure over the last decade. -- Financial integration ; capital flows ; external assets and …

. Lower government spending and the resulting reduced deficit bias augment capital accumulation. …

two distinct distortions: i) taxes on capital and labour are the only available tax instruments for raising revenues, and … broad assumptions the two distortions create conflicting demands on the wage tax, while calling for a zero capital tax. By … combining the two distortions, we arrive at the conclusion that both instruments should be used, implying that the zero-capital …