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The effects of usury ceilings on consumers welfare : evidence from the microcredit market in Colombia

Capera Romero, Laura - 2021

Interest rate caps, also called usury ceilings, are a widely used policy tool to protect consumers from excessive charges by loan providers. However, they are often cited as a barrier for the advancement of financial inclusion, as they may reduce the incentives to provide loans to lower-income...

Persistent link: https://www.econbiz.de/10012591585

International technology diffusion of joint and cross-border patents

Chang, Chia-Lin; McAleer, Michael; Tang, Ju-Ting - 2015

With the advent of globalization, economic and financial interactions among countries have become widespread. Given technological advancements, the factors of production can no longer be considered to be just labor and capital. In the pursuit of economic growth, every country has sensibly...

Persistent link: https://www.econbiz.de/10010532120

International technology diffusion of joint and cross-border patents

Chang, Chia-Lin; McAleer, Michael; Tang, Ju-Ting - 2013

Persistent link: https://www.econbiz.de/10009784939

Cyclicality in losses on bank loans

Keijsers, Bart; Diris, Bart; Kole, Erik - 2015

Cyclicality in the losses of bank loans is important for bank risk management. Because loans have a different risk profile than bonds, evidence of cyclicality in bond losses need not apply to loans. Based on unique data we show that the default rate and loss given default of bank loans share a...

Persistent link: https://www.econbiz.de/10010515860

Modeling portfolio defaults using hidden Markov models with covariates

Banachewicz, Konrad; Vaart, Aad W. van der; Lucas, André - 2006

We extend the Hidden Markov Model for defaults of Crowder, Davis, and Giampieri (2005) to include covariates. The covariates enhance the prediction of transition probabilities from high to low default regimes. To estimate the model, we extend the EM estimating equations to account for the time...

Persistent link: https://www.econbiz.de/10011349709

Banking unions : distorted incentives and efficient bank resolution

Zoican, Marius A.; Górnicka, Lucyna A. - 2013

This paper studies the optimality of a banking union in a setting with cross-country liquidity spillovers and moral hazard. Generally, the banking union improves welfare by efficiently providing liquidity to banks, thus limiting spillovers from bank defaults across the member countries. At the...

Persistent link: https://www.econbiz.de/10010226101

Business survival and success of young small business owners

Praag, Mirjam van - 2003

Little empirical evidence provides insight in person-oriented drivers of business survival and success of small business owners. In this paper I perform a duration analysis of business survival amongst young white (selfemployed) small business owners in the U.S. Compulsory exits are...

Persistent link: https://www.econbiz.de/10011333891

Turbulence, flexibility and performance of the long-lived small firm

Power, Bernadette; Reid, Gavin C. - 2003

This paper focuses on a new concern in the small firm’s literature, namely what makes a small firm stay in business for a long time. It reflects a change in economic policy, away from an emphasis on volume of start-ups to an emphasis on quality of start-ups. The basic hypothesis is that...

Persistent link: https://www.econbiz.de/10011333898

Designing financial support for SMEs during crises : the role of bank lending

Wang, Tianxi; Wang, Xuan - 2021

When designing schemes to help SMEs survive crises, the government typically faces asymmetric information, so that it … cannot target the SMEs most worth saving. We show that the government can exploit the information in the borrower loan demand … fully subsidise the funding cost of only those SMEs whose loan size is below a threshold. If the aim is economic efficiency …

Persistent link: https://www.econbiz.de/10012665866

Welfare effects of distortionary company car taxation

Gutiérrez-i-Puigarnau, Eva; Ommeren, Jos van - 2009

In Europe, company cars are offered by employers as fringe benefits to their employees at a lower price than employees pay in the car market, mainly due to favourable taxation of company cars. We analyse the welfare effects of favourable taxation of company cars for the Netherlands. The...

Persistent link: https://www.econbiz.de/10011372964

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