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Pouring oil on fire : interest deductibility and corporate debt
Dallari, Pietro; End, Nicolas; Miryugin, Fedor; Tieman, … - 2018
This paper investigates the role of tax incentives towards debt finance in the buildup of leverage in the nonfinancial corporate (NFC) sector, using a large firm-level dataset. We find that so-called debt bias is a significant driver of leverage, for both small and medium-sized enterprises and...
Persistent link: https://www.econbiz.de/10011978432
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Death and taxes : does taxation matter for firm survival?
Cevik, Serhan; Miryugin, Fedor - 2019
This paper investigates the impact of taxation on firm survival, using hazard models and a large-scale panel dataset on over 4 million nonfinancial firms from 21 countries over the period 1995-2015. We find ample evidence that a lower level of effective marginal tax rate improves firms' survival...
Persistent link: https://www.econbiz.de/10012019820
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Case studies in tax revenue mobilization in low-income countries
Akitoby, Bernardin; Honda, Jiro; Miyamoto, Hiroaki; … - 2019
How can Low-Income Countries (LICs) enhance tax revenue collection to finance their vast development needs? We address this question by analyzing seven tax reform experiences in LICs (Burkina Faso, The Gambia, Maldives, Mauritania, Rwanda, Senegal, and Uganda). Three lessons stand out, although...
Persistent link: https://www.econbiz.de/10012021897
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Corporate tax reform : from income to cash flow taxes
Carton, Benjamin; Fernandez-Corugedo, Emilio; Hunt, … - 2019
This paper uses a multi-region, forward-looking, DSGE model to estimate the macroeconomic impact of a tax reform that replaces a corporate income tax (CIT) with a destination-based cash-flow tax (DBCFT). Two key channels are at play. The first channel is the shift from an income tax to a...
Persistent link: https://www.econbiz.de/10012001561
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Tax policy and inclusive growth
Abdel-Kader, Khaled; Mooij, Ruud A. de - 2020
This paper discusses the theory and practice of tax design to achieve an efficient and equitable outcome, id est in support of inclusive growth. It starts with a discussion of the key principles from tax theory to guide practical tax design. Then, it elaborates on more granular tax policy,...
Persistent link: https://www.econbiz.de/10012485968
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European wage dynamics and spillovers
Zhang, Yuanyan - 2019
advanced Europe, where wages are more closely related to inflation and inflation expectations in the short run, implying …
Persistent link: https://www.econbiz.de/10012102142
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Natural disaster insurance for sovereigns : issues, challenges and optimality
Cebotari, Aliona; Youssef, Karim - 2020
ex-ante preparedness is needed to manage the risks. The paper discusses sovereign experience with disaster insurance as a … key instrument to mitigate the risks; proposes ways to judge the adequacy of insurance; and considers ways to enhance its … use by vulnerable countries. The paper especially aims to inform policy decisions on disaster insurance. Through …
Persistent link: https://www.econbiz.de/10012170086
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Interconnectedness of global systemically-important banks and insurers
Malik, Sheheryar; Xu, TengTeng - 2017
Interconnectedness among global systemically important banks (GSIBs) and global systemically important insurers (GSIIs) has important financial stability implications. This paper examines connectedness among United States, European and Asian GSIBs and GSIIs, using publicly-available daily equity...
Persistent link: https://www.econbiz.de/10011743090
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Insurance Companies in Emerging Markets
Kong, Janet - 2005
This paper focuses on asset allocation decisions of life insurance companies in emerging markets. Mature market … markets play an important role in asset allocation decisions of insurers. Insurance companies are increasingly adopting asset …
Persistent link: https://www.econbiz.de/10014402057
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How the Financial Crisis Affects Pensions and Insurance and Why the Impacts Matter
Tower, Ian - 2009
This paper discusses the key sources of vulnerabilities for pension plans and insurance companies in light of the … institutions including insurance and pensions; and 5) the need to revisit the resolution and crisis management framework for … insurance and pensions …
Persistent link: https://www.econbiz.de/10014402475