Narrow search
Showing 1 - 10 of 745
Cover Image
Taxes and Growth in a Financially Underdeveloped Country: Evidence from the Chilean Investment Boom
Parker, Jonathan A.; Hsieh, Chang-Tai - National Bureau of Economic Research (NBER) - 2006
prospects and poorly developed financial markets because it primarily reduces the investment of financially constrained firms …, investment that has marginal product greater than the after-tax market real interest rate. Contrarily, taxes on distributed … profits or capital gains primarily reduce the investment of financially unconstrained firms. Chile experienced a banking …
Persistent link: https://www.econbiz.de/10004969348
Cover Image
International Borrowing and Macroeconomic Performance in Argentina
Dominguez, Kathryn M. E.; Tesar, Linda L. - National Bureau of Economic Research (NBER) - 2005
This paper provides an overview of the major economic events in Argentina from the adoption of the convertibility plan in 1991 to the collapse of the exchange rate regime in 2001. We focus on the relationship between the credibility of the currency board and capital flows, and the inescapable...
Persistent link: https://www.econbiz.de/10005720753
Cover Image
A Solution to Fiscal Procyclicality: The Structural Budget Institutions Pioneered by Chile
Frankel, Jeffrey Alexander - National Bureau of Economic Research (NBER) - 2011
Historically, many countries have suffered a pattern of procyclical fiscal policy: spending too much in booms and then forced to cut back in recessions. This problem has especially plagued Latin American commodity exporters. Since 2000, fiscal policy in Chile has been governed by a structural...
Persistent link: https://www.econbiz.de/10008924799
Cover Image
Taxes and the Global Allocation of Capital
Backus, David; Henriksen, Espen; Storesletten, Kjetil - National Bureau of Economic Research (NBER) - 2007
Despite enormous growth in international capital flows, capital-output ratios continue to exhibit substantial heterogeneity across countries. We explore the possibility that taxes, particularly corporate taxes, are a significant source of this heterogeneity. The evidence is mixed. Tax rates...
Persistent link: https://www.econbiz.de/10005084808
Cover Image
Capital Goods Prices, Global Capital Markets and Accumulation: 1870-1950
Collins, William J.; Williamson, Jeffrey Gale - National Bureau of Economic Research (NBER) - 1999
variety of tests for world financial capital market integration ranging from the correlation of saving and investment …
Persistent link: https://www.econbiz.de/10005774500
Cover Image
Das (Wasted) Kapital: Firm Ownership and Investment Efficiency in China
Dollar, David; Wei, Shang-Jin - National Bureau of Economic Research (NBER) - 2007
systematic comparison of investment efficiency among wholly and partially state-owned, wholly and partially foreign-owned, and …
Persistent link: https://www.econbiz.de/10005778201
Cover Image
Foreign Capital and Economic Growth in the First Era of Globalization
Bordo, Michael David; Meissner, Christopher M. - National Bureau of Economic Research (NBER) - 2007
We explore the association between income and international capital flows between 1880 and 1913. Capital inflows are associated with higher incomes per capita in the long-run, but capital flows also brought income volatility via financial crises. Crises also decreased growth rates of income per...
Persistent link: https://www.econbiz.de/10005778274
Cover Image
The Risky Capital of Emerging Markets
David, Joel M.; Henriksen, Espen; Simonovska, Ina - National Bureau of Economic Research (NBER) - 2014
Emerging markets exhibit high returns to capital, the ‘Lucas Paradox,’ alongside volatile growth rate regimes. We investigate the role of long-run risks, i.e., risk due to fluctuations in economic growth rates, in leading to return differentials across countries. We take the perspective of a...
Persistent link: https://www.econbiz.de/10011103515
Cover Image
Global Savings and Global Investment: The Transmission of Identified Fiscal Shocks
Feyrer, James; Shambaugh, Jay C. - National Bureau of Economic Research (NBER) - 2009
change in US saving is absorbed by increased domestic investment (contrary to Feldstein & Horioka). Almost half of the fiscal … deficits and increases in investment in other countries in the world. We cannot reject that the shock is uniformly transmitted …
Persistent link: https://www.econbiz.de/10005036810
Cover Image
Was This Time Different? Fiscal Policy in Commodity Republics
Cespedes, Luis Felipe; Velasco, Andrés - National Bureau of Economic Research (NBER) - 2013
We revisit the issue of fiscal procyclicality in commodity-rich nations -commodity republics in the nomenclature of this paper. Since commodity prices are plausibly a main driver of fiscal policy outcomes in these countries, we focus on the behavior of fiscal variables across the commodity...
Persistent link: https://www.econbiz.de/10010969315