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Persistent link: https://www.econbiz.de/10014402926
Under alternative assumptions on the likely developments in external financing of PCPE transition, and based on a multi-country, forward-looking model that includes a simplified PCPE block, we simulate the response of PCPEs to a transfer of capital from the industrial countries, and assess the...
Persistent link: https://www.econbiz.de/10014398206
The bulk of corporate governance theory examines the agency problems that arise from two extreme ownership structures: 100 percent small shareholders or one large, controlling owner combined with small shareholders. In this paper, we question the empirical validity of this dichotomy. In fact,...
Persistent link: https://www.econbiz.de/10014401077
This paper estimates the magnitude of key effects on the real economy from financial sector stress. We focus on the short-run feedback effect from market-based indicators of financial sector risk to the real economy through the credit channel, and estimate this effect on an economy-wide (macro)...
Persistent link: https://www.econbiz.de/10014401691
The extent of fiscal transparency in Western Europe has varied over the centuries. Although ancient Greek, Roman, and medieval governments were sometimes open about their finances, the absolute monarchies of the 1600s and 1700s shrouded them in mystery. Factors that have encouraged transparency...
Persistent link: https://www.econbiz.de/10012667430
Persistent link: https://www.econbiz.de/10011374776
Using bilateral data on migration across US metro areas, we find strong evidence that increasing house price and income … inequality has reduced long distance migration, the type most linked to jobs. For those migrating uphill, from a less to a more … dominate the incentives from higher earnings. By contrast, increasing income inequality drives the fall in downhill migration …
Persistent link: https://www.econbiz.de/10012022044
significant negative effect on output convergence?by discouraging migration within Canada?the Equalization transfers may have …
Persistent link: https://www.econbiz.de/10014403949
Macroeconomic costs of conflict are generally very large, with GDP per capita about 28 percent lower ten years after conflict onset. This is overwhelmingly driven by private consumption, which falls by 25 percent ten years after conflict onset. Conflict is also associated with dramatic declines...
Persistent link: https://www.econbiz.de/10012252077