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Lending Booms, Reserves, and the Sustainability of Short-Term Debt : Inferences from the Pricing of Syndicated Bank Loans
Eichengreen, Barry - 2000
This paper analyzes the determinants of spreads on syndicated bank lending to emerging markets, treating the loan-extension and pricing decisions as jointly determined. Compared to the bond market, our findings highlight the role of international banks in providing credit to smaller borrowers...
Persistent link: https://www.econbiz.de/10012788956
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Lending to Lemons : Landschafts-Credit in 18th Century Prussia
Wandschneider, Kirsten - 2013
The following paper describes the emergence of cooperative mortgage credit associations, called "Landschaften" in 18th century Prussia, and thereby tells the history of mortgage-covered bonds. Landschaften facilitated the refinancing of loans for Prussian estates by issuing covered bonds...
Persistent link: https://www.econbiz.de/10013079769
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On the Persistent Financial Losses of U.S. Airlines : A Preliminary Exploration
Borenstein, Severin - 2011
U.S. airlines have lost nearly $60 billion (2009 dollars) in domestic markets since deregulation, most of it in the … that challenges the economics of deregulation. I examine some of the most common explanations among industry participants …
Persistent link: https://www.econbiz.de/10013130786
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Unilateral Tariff Liberalisation
Baldwin, Richard - 2010
Unilateral tariff liberalisation by developing nations is pervasive but our understanding of it is shallow. This paper strives to partly redress this lacuna on the theory side by introducing three novel political economy mechanisms with particular emphasis is on the role of production...
Persistent link: https://www.econbiz.de/10013135235
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Estimating the Impact of Restructuring on Electricity Generation Efficiency : The Case of the Indian Thermal Power Sector
Cropper, Maureen - 2011
We examine the impact of electricity sector restructuring on the operating efficiency of coal-fired power plants in India. Between 1995 and 2009, 85 percent of coal-based generation capacity owned by state governments was unbundled from vertically integrated State Electricity Boards into state...
Persistent link: https://www.econbiz.de/10013120321
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Deregulation, Consolidation, and Efficiency : Evidence from U.S. Nuclear Power
Davis, Lucas W. - 2011
markets. Deregulation has been accompanied by substantial market consolidation and today the three largest companies control … more than one-third of all U.S. nuclear capacity. We find that deregulation and consolidation are associated with a 10 …
Persistent link: https://www.econbiz.de/10013121046
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Open Borders
Kennan, John - 2012
There is a large body of evidence indicating that cross-country differences in income levels are associated with differences in productivity. If workers are much more productive in one country than in another, restrictions on immigration lead to large efficiency losses. The paper quantifies...
Persistent link: https://www.econbiz.de/10013101820
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Market Deregulation and Optimal Monetary Policy in a Monetary Union
Cacciatore, Matteo - 2013
The wave of crises that began in 2008 reheated the debate on market deregulation as a tool to improve economic … policy to reduce transition costs. Third, deregulation reduces static and dynamic inefficiencies, making price stability more … desirable. International synchronization of reforms can eliminate policy tradeoffs generated by asymmetric deregulation …
Persistent link: https://www.econbiz.de/10013082164
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How Do Hospitals Respond to Market Entry? Evidence from a Deregulated Market for Cardiac Revascularization
Li, Suhui - 2013
Regulatory entry barriers to hospital service markets, namely Certificate of Need (CON) regulations, are enforced in many states; although no longer federally mandated, policy makers in other states are considering reinstating CON policies in tandem with service expansions mandated under the...
Persistent link: https://www.econbiz.de/10013084146
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Why Do Emerging Markets Liberalize Capital Outflow Controls? Fiscal Versus Net Capital Flow Concerns
Aizenman, Joshua - 2013
In this paper, we provide empirical evidence on the factors that motivated emerging economies to change their capital outflow controls in the recent decades. Liberalization of capital outflow controls can allow emerging market economies (EMEs) to reduce net capital inflow (NKI) pressures, but...
Persistent link: https://www.econbiz.de/10013085490