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Does the combination of inflation and high corporate taxes explain the increase in bank leverage in the 20th century? Inflation automatically increases bank debt, while high corporate taxes hinder capital accumulation. Capital ratios therefore drop, until leverage-induced returns are sufficient...
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function. Swedish banking data is used as an application of the above model. -- Productivity ; Efficiency ; Convergence ; Labor …-Use ; Panel Data ; Banking Industry …
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The development of a well adapted financial system was a main part of the successful Swedish economic modernization in the latter half of the nineteenth century. In this paper it is shown that this development followed the pattern of a financial revolution. Major institutional and organizational...
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explanation for Sweden's weak performance with respect to market work activity highlights the role of high tax rates on labor …
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Walter Korpi argues in a previous issue of Challenge (March/April 2000) that Swedish economists' claim that Sweden …'s growth performance has been inferior to that of other industrialized countries is at odds with the facts. Since Sweden has … wrong regarding Sweden's relative growth performance. Available data indicate that Sweden was lagging behind during the 1970 …
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affected by the kind of tax and welfare arrangements that typically prevail in a mature welfare state. Sweden, allegedly the …
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