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Smooth Income Tax Schedules : Derivation and Consequences
Estévez Schwarz, Diana - 2018
Existing tax schedules are often overly complex and characterized by discontinuities in the marginal tax burden. In this paper we propose a class of progressive smooth functions to replace personal income tax schedules. These functions depend only on three meaningful parameters, and avoid the...
Persistent link: https://www.econbiz.de/10012919519
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The Interdependence of R&D Activity andDebt Financing of Young Firms
Fryges, Helmut; Kohn, Karsten; Ullrich, Katrin - Forschungsinstitut zur Zukunft der Arbeit <Bonn> - 2011
characteristics of the founders for explainingyoung firms’ leverage, whereas firm characteristics and human capital of both founders …
Persistent link: https://www.econbiz.de/10009486988
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Impact of Financial Crises on Dynamics of Capital Structure : Evidence from Korean Listed Companies
Tsoy, Lyubov - 2017
optimal leverage identified. Different effects of the two crises on both capital structure and its adjustment speed is found … effect on companies' debt ratio and the speed of their adjustment toward optimal leverage. The empirical analysis revealed … leverage being highest before the Asian crisis and lowest after the Global financial crisis. The results also show that the …
Persistent link: https://www.econbiz.de/10012962289
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Excess Leverage and Productivity Growth in Emerging Economies : Is There a Threshold Effect?
Coricelli, Fabrizio - 2010
The paper examines the relationship between leverage and growth in a group of emerging central and eastern European … moderate leverage could boost growth while very high leverage could lower it by increasing the likelihood of financial distress … various firm, industry and financial market characteristics. We also endogenously determine a threshold level of leverage …
Persistent link: https://www.econbiz.de/10013146463
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Convergence in Institutions and Market Outcomes : Cross-Country and Time-Series Evidence from the BEEPS Surveys in Transition Economies
Mitra, Pradeep; Muravyev, Alexander; Schaffer, Mark E. - 2021
This paper uses the BEEPS firm-level data to study the process of convergence of transition countries with developed market economies. The primary focus of the study is on competition and market structure, finance and the structure of lending to firms, and how firms respond to the economic...
Persistent link: https://www.econbiz.de/10013324752
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Wage Structure Effects of International Trade : Evidence from a Small Open Economy
Du Caju, Philip - 2011
In the last decades, international trade has increased between industrialised countries and between high- and low-wage countries. This important change has raised questions on how international trade affects the labour market. In this spirit, this paper aims to investigate the impact of...
Persistent link: https://www.econbiz.de/10013127724
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Are Intra-Household Allocations Policy Neutral? Theory and Empirical Evidence
Chiappori, Pierre-Andre - 2011
We develop a collective household model with spousal matching in which there exists marital gains to assortative matching and marriage quality for each couple is revealed ex post. Changes in alimony laws are shown to affect existing couples and couples-to-be differently. For existing couples,...
Persistent link: https://www.econbiz.de/10013127939
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Heterogeneous Productivity in Voluntary Public Good Provision : An Experimental Analysis
Fellner-Röhling, Gerlinde - 2011
This article experimentally examines voluntary contributions when group members' marginal returns to the public good vary. The experiment implements two marginal return types, low and high, and uses the information that members have about the heterogeneity to identify the applied contribution...
Persistent link: https://www.econbiz.de/10013128231
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Business Conditions and Default Risks Across Countries
Pflüger, Michael - 2011
The risk of default that business firms face is very significant and differs widely across countries. This paper explores the links between countries' business conditions and international trade embedment and the default risk at the country level from a theoretical point of view. Our main...
Persistent link: https://www.econbiz.de/10013128748
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Wage Premia for Newly Hired Employees : Theory and Evidence
Kampkötter, Patrick - 2011
We investigate wage differences between newly hired and incumbent employees. We show in a formal model that when employees care for wages as well as match-specific utility, incumbents earn less than new recruits if and only if firm-specific human capital is not too important. The existence and...
Persistent link: https://www.econbiz.de/10013129084