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Investment Crowding-Out and Labor Market Effects of Financialization in the U.S
González, Ignacio - 2013
This paper studies the impact of financialization on unemployment in the U.S. We estimate a dynamic multi-equation macro labor model including labor demand, labor supply, wage-setting and capital accumulation equations. Financialization appears as a key determinant of capital accumulation which,...
Persistent link: https://www.econbiz.de/10013084673
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Distributional Consequences of Capital Accumulation, Globalisation and Financialisation in the US
Karanassou, Marika - 2013
In this paper we examine the dynamic contributions of capital accumulation, globalisation, and financialisation to the functional-personal income distribution nexus. We analyse the labour share under the prism of monopoly and frictional growth, and disclose the dramatic upward trend in...
Persistent link: https://www.econbiz.de/10013085470
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Student Loan Reforms for German Higher Education : Financing Tuition Fees
Chapman, Bruce - 2011
It is generally agreed that the funding base for German universities is inadequate and perhaps the time has come for serious consideration of the imposition of non-trivial tuition charges. Against this background, this paper compares conventional and income contingent loans for financing tuition...
Persistent link: https://www.econbiz.de/10013129089
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Role Reversal in Global Finance
Prasad, Eswar S. - 2011
I document that emerging markets have cast off their "original sin" – their external liabilities are no longer dominated by foreign-currency debt and have instead shifted sharply towards direct investment and portfolio equity. Their external assets are increasingly concentrated in foreign...
Persistent link: https://www.econbiz.de/10013119287
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Thresholds in the Process of International Financial Integration
Kose, M. Ayhan - 2009
The financial crisis has re-ignited the fierce debate about the merits of financial globalization and its implications for growth, especially for developing countries. The empirical literature has not been able to conclusively establish the presumed growth benefits of financial integration....
Persistent link: https://www.econbiz.de/10013160313
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Global Macro-Financial Cycles and Spillovers
Ha, Jongrim - 2020
We develop a new dynamic factor model that allows us to jointly characterize global macroeconomic and financial cycles and the spillovers between them. The model decomposes macroeconomic cycles into the part driven by global and country-specific macro factors and the part driven by spillovers...
Persistent link: https://www.econbiz.de/10012840446
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Incentive Pay and Performance : Insider Econometrics in a Multi-Unit Firm
Bogaard, Hein - 2013
We exploit organizational reforms in a foreign-owned bank in Central-East Europe to study the implementation of modern HRM policies in an emerging market context. We have branch-level data and use our knowledge of the process that led to the adoption of the reforms to implement two estimators...
Persistent link: https://www.econbiz.de/10013071738
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Help in a Foreign Land : Internationalized Banks and Firms' Export
Brancati, Emanuele - 2022
The lack of information is a relevant obstacle to the export activity of small and medium enterprises. This paper analyzes whether banks can support firms’ export by reducing informational asymmetries about foreign markets. We exploit a large sample of Italian firms for which we merge custom...
Persistent link: https://www.econbiz.de/10013403718
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Tacit Lobbying Agreements : An Experimental Study
Großer, Jens - 2011
of the lobbying investment depends on whether or not the candidates are willing to respond and able to collude on low …-tax policies that do not harm their relative chances in the elections. In the experiment, we find that lobbying is never successful …% of societies with finitely-repeated encounters. However, lobbying investments are not always profitable, and profit …
Persistent link: https://www.econbiz.de/10013132418
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The Efficacy and Efforts of Interest Groups in Post Elections Policy Formation
Epstein, Gil S. - 2012
what condition an interest group prefers to direct its lobbying efforts to two parties or the two coalition and opposition … discipline. The lobbying efforts under un-enforced and enforced party discipline are also compared. Finally, we clarify the …
Persistent link: https://www.econbiz.de/10013096476