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Simulating the Elimination of the U.S. Corporate Income Tax

Fehr, Hans - 2013

We simulate corporate tax reform in a single good, five-region (U.S., Europe, Japan, China, India) model, featuring …

Persistent link: https://www.econbiz.de/10013071508

Monetary Policy and Performance in the U.S., Japan and Europe, 1973-86

Fischer, Stanley - 2007

Monetary policies in the U.S., Japan, Germany and the United Kingdom over the period 1973-1986 are compared and …. The most striking contrast in the outcomes of policy is between Japan and Germany in the second oil shock. Both their … Bundesbank and the Bank of Japan each focus on one money target, described by the Bundesbank as a target, and by the Bank of …

Persistent link: https://www.econbiz.de/10012777224

Will China Eat Our Lunch or Take Us Out to Dinner? Simulating the Transition Paths of the U.S., EU, Japan, and China

Fehr, Hans - 2009

, and economic transition paths of China, Japan, the U.S., and the EU. Each of these countries/regions is entering a period … prospects. And, rather than seeing the real wage per unit of human capital fall, the West and Japan see it rise by one fifth by …

Persistent link: https://www.econbiz.de/10012767513

Banking System Stability : A Cross-Atlantic Perspective

Hartmann, Philipp - 2006

This paper derives indicators of the severity and structure of banking system risk from asymptotic interdependencies between banks%u2019 equity prices. We use new tools available from multivariate extreme value theory to estimate individual banks%u2019 exposure to each other (%u201Ccontagion...

Persistent link: https://www.econbiz.de/10012783643

Stochastic Growth in the United States and Euro Area

Ireland, Peter N. - 2011

This paper estimates, using data from the United States and Euro Area, a two-country stochastic growth model in which both neutral and investment-specific technology shocks are nonstationary but cointegrated across economies. The results point to large and persistent swings in productivity, both...

Persistent link: https://www.econbiz.de/10013131508

Eurosystem Monetary Targeting : Lessons from U.S. Data

Rudebusch, Glenn D. - 2010

Using a small empirical model of inflation, output, and money estimated on U.S. data, we compare the relative performance of monetary targeting and inflation targeting. The results show that monetary targeting would be quite inefficient, with both higher inflation and output variability. This is...

Persistent link: https://www.econbiz.de/10013137167

Systemic Sovereign Credit Risk : Lessons from the U.S. And Europe

Ang, Andrew - 2011

We study the nature of systemic sovereign credit risk using CDS spreads for the U.S. Treasury, individual U.S. states, and major European countries. Using a multifactor affine framework that allows for both systemic and sovereign-specific credit shocks, we find that there is considerable...

Persistent link: https://www.econbiz.de/10013125926

Why Europe Should Love Tax Competition - and the U.S. Even More so

Janeba, Eckhard - 2010

parliamentary democracies (Europe) and presidential-congressional systems (USA) to show that increasing tax competition is likely to …

Persistent link: https://www.econbiz.de/10012762903

U.S. Antidumping Policies : The Case of Steel

Eichengreen, Barry; van der Ven, Hans - 2021

This paper examines the controversy surrounding recent allegations that foreign producers are dumping steel products onto U.S. markets. The paper is in four sections, which take four quite distinct views of dumping and recent U.S. antidumping policies, emphasizing the changing definition of...

Persistent link: https://www.econbiz.de/10013220965

Price Level Convergence Among United States Cities : Lessons for the European Central Bank

Cecchetti, Stephen G.; Mark, Nelson C.; Sonora, Robert J. - 2021

We study the dynamics of price indices for major U.S. cities using panel econometric methods and find that relative price levels among cities mean revert at an exceptionally slow rate. In a panel of 19 cities from 1918 to 1995, we estimate the half-life of convergence to be approximately nine...

Persistent link: https://www.econbiz.de/10013221841