Showing 1 - 10 of 342
This paper investigates stock performance in emerging markets in relation to their accessibility by foreign investors (as measured by the investability index of the IFC). Using the Stehle (1977) model, we reject for most markets integration and fail to reject for all segmentation. We find that...
Persistent link: https://www.econbiz.de/10013309575
States without a judicial requirement for foreclosures are twice as likely to foreclose on delinquent homeowners. Comparing zip codes close to state borders with differing foreclosure laws, we show that foreclosure propensity and housing inventory jump discretely as one enters non-judicial...
Persistent link: https://www.econbiz.de/10013131506
During the last few decades, many emerging markets have lifted restrictions on cross-border financial transactions. The conventional view was that this would allow these countries to: (i) receive capital inflows from advanced countries that would finance higher investment and growth; (ii) insure...
Persistent link: https://www.econbiz.de/10013132044
We study the effects of abolishing estate taxation in a quantitative and realistic framework that includes the key features that policy makers are worried about: business investment, borrowing constraints, estate transmission, and wealth inequality. We use our model to estimate effective estate...
Persistent link: https://www.econbiz.de/10012751904
Why did the Japanese slowdown of the 90s last so long if none of the shocks that hit the Japanese economy had a comparable persistence? In this paper, I use the Comin and Gertler (2006) model of medium term fluctuations to explore whether their endogenous technology mechanisms can amplify and...
Persistent link: https://www.econbiz.de/10012754982
We study the driving forces of fluctuations in an estimated New Neoclassical Synthesis model of the U.S. economy with several shocks and frictions. In this model, shocks to the marginal efficiency of investment account for the bulk of fluctuations in output and hours at business cycle...
Persistent link: https://www.econbiz.de/10013149973
FDI. Our findings are consistent with multinational subsidiaries being less liquidity constrained because they can tap … additional funding from their parent company and/or access foreign capital markets. More broadly, they suggest that FDI can …
Persistent link: https://www.econbiz.de/10013127980
Empirical studies quantifying the economic effects of increased foreign direct investment (FDI) have not provided … consistent with theory if countries are in transition to FDI openness. Anticipated welfare gains lead to temporary declines in … domestic investment and employment. Also, growth measures miss some intangible FDI, which is expensed from company profits. The …
Persistent link: https://www.econbiz.de/10013130264
magnitude and direction of FDI spillovers. We examine these spillover effects across the diverse ownership structure of China …-level productivity and industry FDI, thereby limiting the problem of omitted variables and bias associated with estimating the impacts of … FDI spillovers. During 1998-2007, the span of our Chinese firm-level data set, both tariffs and FDI tax holidays changed …
Persistent link: https://www.econbiz.de/10013130551
attributed to India's trade liberalization and FDI reforms. Finally, we construct a panel dataset that allows us to track firms …
Persistent link: https://www.econbiz.de/10013130973