Showing 1 - 10 of 922
The majority of state-owned enterprises (SOEs) in China were privatized through ownership reforms over the last two decades. Using a comprehensive dataset of all medium and large enterprises in China between 1998 and 2013, we show that privatized SOEs continue to benefit from government support...
Persistent link: https://www.econbiz.de/10012894408
In this paper, we develop a model of technology adoption and economic growth in which households optimally obtain either a concept-based, general' education or a skill-specific, vocational' education. General education is more costly to obtain, but enables workers to operate new technologies...
Persistent link: https://www.econbiz.de/10013212567
When regulated firms are offered compensation to prevent them from relocating, efficiency requires that payments be distributed across firms so as to equalize marginal relocation probabilities, weighted by the damage caused by relocation. We formalize this fundamental economic logic and apply it...
Persistent link: https://www.econbiz.de/10013080845
Many countries have phased out nuclear electricity production in response to concerns about nuclear waste and the risk of nuclear accidents. This paper examines the impact of the shutdown of roughly half of the nuclear production capacity in Germany after the Fukushima accident in 2011. We use...
Persistent link: https://www.econbiz.de/10012857668
The paper comments on the economic effects of the German unification. Apart from discussing the unification in an international perspective, analyzing the distributional consequences, and pointing to structural adjustment problems, it emphasizes the distinction between the frequently cited money...
Persistent link: https://www.econbiz.de/10013230602
In this paper, we investigate a neglected aspect of financial systems of many countries around the world: government ownership of banks. We assemble data which establish four findings. First, government ownership of banks is large and pervasive around the world. Second, such ownership is...
Persistent link: https://www.econbiz.de/10012788106
We study the consequences of month-end lending incentives for Chinese bank managers. Using data from two banks, one state-owned and the other partially privatized, we show a clear increase in lending in the final days of each month, a result of both more loan issuance and higher value per loan....
Persistent link: https://www.econbiz.de/10012911690
This paper evaluates the macroeconomic and distributional effects of government bailout guarantees for Government Sponsored Enterprises (such as Fannie Mae and Freddy Mac) in the mortgage market. In order to do so we construct a model with heterogeneous, infinitely lived households and...
Persistent link: https://www.econbiz.de/10013037535
We study the mechanisms through which the adoption of the Euro delayed, rather than advanced, economic reforms in the Euro zone periphery and led to the deterioration of important institutions in these countries. We show that the abandonment of the reform process and the institutional...
Persistent link: https://www.econbiz.de/10013084731
This paper studies the implications of household financial choices for the effects of monetary policy on consumption. Based on data from four major euro area countries, the paper estimates the key structural parameters using a simulated method of moments approach to match moments related to...
Persistent link: https://www.econbiz.de/10012910644