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Real Versus Pseudo-International Systemic Risk : Some Lessons from History
Bordo, Michael D. - 1995
This paper considers the meaning of domestic and international systemic risk. It examines scenarios that have been … adduced as creating systemic risk both within countries and among them. It distinguishes between the concepts of real and … pseudo-systemic risk. We examine the history of episodes commonly viewed either as financial crises or as evidencing systemic …
Persistent link: https://www.econbiz.de/10012473496
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Measuring Real Economic Effects of Bailouts : Historical Perspectives on How Countries in Financial Distress Have Fared With and Without Bailouts
Bordo, Michael D. - 2000
In this paper we first trace the changing nature of banking, currency and debt crises from the last century to the present. Each type of crisis has transmogrified in the presence of official intervention and the creation of a safety net. A similar pattern is observed for international rescue...
Persistent link: https://www.econbiz.de/10012471060
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Do Some Enterprise Zones Create Jobs?
Kolko, Jed - 2009
We study how the employment effects of enterprise zones vary with their location, implementation, and administration, based on evidence from California. We use new establishment-level data and geographic mapping methods, coupled with a survey of enterprise zone administrators. Overall, the...
Persistent link: https://www.econbiz.de/10012463443
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When Is Quality of Financial System a Source of Comparative Advantage?
Ju, Jiandong - 2008
Does finance follow the real economy, or the other way around? This paper unites the two competing schools of thought in a general equilibrium framework. Our key result is that there are threshold effects defined by a set of deep institutional parameters (cost of financial intermediation,...
Persistent link: https://www.econbiz.de/10012464662
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Domestic Institutions and the Bypass Effect of Financial Globalization
Ju, Jiandong - 2007
the world than many developing countries. A noteworthy feature of this theory is that financial and property rights …
Persistent link: https://www.econbiz.de/10012465505
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Intrinsic Openness and Endogenous Institutional Quality
Jiao, Yang - 2017
Quality of public institutions has been recognized as a crucial determinant of macroeconomic outcomes. We propose that a country's intrinsic level of openness (due to population size, geography, or exogenous trade opportunities) affects its incentives in investing in better institutions. We...
Persistent link: https://www.econbiz.de/10012453661
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How Does Corporate Governance Risk at Home Affect Investment Choices Abroad?
Kim, Woochan - 2008
Disparity between control and ownership rights gives rise to the risk of tunneling by the controlling shareholder, and …
Persistent link: https://www.econbiz.de/10012464925
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Evaluating School-To-Work Programs Using the New NLSY
Neumark, David - 2000
offer to help students prepare for the world of work,' and an accompanying survey includes information on school …
Persistent link: https://www.econbiz.de/10012471042
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The Employment Effects of Recent Minimum Wage Increases : Evidence from a Pre-specified Research Design
Neumark, David - 1999
This paper presents evidence on the employment effects of recent minimum wage increases from a pre-specified research design that entailed committing to a detailed set of statistical analyses prior to 'going to' the data. Despite the limited data to which the pre-specified research design can be...
Persistent link: https://www.econbiz.de/10012471616
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Who Pays for and Who Benefits from Minimum Wage Increases? Evidence from Israeli Tax Data on Business Owners and Workers
Drucker, Lev - 2019
A key goal of a higher minimum wage is income redistribution towards low-income families. Existing research on the minimum wage focuses on the impact on affected workers, but is silent on the incomes of the owners of businesses who pay for a higher minimum wage. Higher minimum wages will do more...
Persistent link: https://www.econbiz.de/10012480515