Similar Search Results

Technological Innovations and Endogenous Changes in U.S. Legal Institutions, 1790-1920

Khan, B. Zorina - 2004

Recent scholarship highlights the importance of institutions to the processes of economic growth, but the precise nature of their relationship bears further examination. This paper considers how the evolution of legal institutions has contributed to, and in turn been affected by, major...

Persistent link: https://www.econbiz.de/10012468347

Legal Regime and Business's Organizational Choice : A Comparison of France and the United States

Lamoreaux, Naomi R. - 2004

In a recent series of articles, Rafael La Porta, Florencio Lopez-de-Silanes, Andrei Shleifer, and Robert W. Vishny have argued that countries whose legal systems are based on civil law (especially of French origin) have systematically weaker environments for business than those whose legal...

Persistent link: https://www.econbiz.de/10012468406

Why Do Foreign Firms Have Less Idiosyncratic Risk than U.S. Firms?

Bartram, Söhnke M. - 2009

Using a large panel of firms across the world from 1991-2006, we show that the median foreign firm has lower idiosyncratic risk than a comparable U.S. firm. Country characteristics help explain variation in the level of idiosyncratic risk, but less so than firm characteristics. Idiosyncratic...

Persistent link: https://www.econbiz.de/10012463717

The Fiscal Stance in Japan : A Model-Based Analysis

Fournier, Jean-Marc; Hisanaga, Takuma; Nguyen, Anh D.M - 2022

This paper assesses Japan’s fiscal stance in the past and the future with a stochastic structural model called the Buffer-Stock Model of the Government. Our retrospective analysis suggests that the fiscal stance in the 1990s and the early 2000s was overall looser than the model...

Persistent link: https://www.econbiz.de/10014077412

Fiscal Challenges of Population Aging in Brazil

Cuevas, Alfredo - 2017

In recent decades, population has been aging fast in Brazil while old age pensions and health related spending have increased. As the population ages, the spending trend threaten to reach unsustainable levels absent reforms. Increasing the retirement age is key, but by itself will not provide...

Persistent link: https://www.econbiz.de/10012956468

Measuring U.S. Fiscal Capacity using Discounted Cash Flow Analysis

Jiang, Zhengyang; Lustig, Hanno; Nieuwerburgh, Stijn van; … - National Bureau of Economic Research - 2022

We use discounted cash flow analysis to measure a country's fiscal capacity. Crucially, the discount rate applied to projected cash flows includes a GDP risk premium. We apply our valuation method to the CBO's projections for the U.S. federal government's deficit between 2022 and 2051 and debt...

Persistent link: https://www.econbiz.de/10013190996

The Evolving Functions and Organization of Finance Ministries

Allen, Richard - 2016

There is relatively little literature that analyses the role, functions, and organization of finance ministries. The …'s history and institutional context. Over the past 30 years many finance ministries have moved from a 'traditional' to an …'s-length agencies or line ministries. The paper describes the challenges facing developing countries in strengthening their finance …

Persistent link: https://www.econbiz.de/10013002149