Showing 1 - 10 of 47
Persistent link: https://www.econbiz.de/10012471119
We explore the effects of environmental taxes that imprecisely target pollution. A review of actual policies indicates few (if any) examples of a true tax on pollution. More typically, environmental taxes target an input or output that is correlated with pollution. We construct a simple...
Persistent link: https://www.econbiz.de/10012471531
for the United States but also with reference to the wider world. We establish the outlines of international integration a … century ago and analyze the institutional and informational impediments that prevented the late nineteenth century world from … achieving the same degree of integration as today. We conclude that the world today is different: commercial and financial …
Persistent link: https://www.econbiz.de/10012471593
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/10012471681
who participates in this shift. We exploit a dataset combining Gallup World Polls and Global Findex surveys for some 250 …
Persistent link: https://www.econbiz.de/10012599296
A financial crisis is a disturbance to financial markets. associated typically with falling asset prices and insolvency among debtors and intermediaries, which spreads through the financial system, disrupting the market’s capacity to allocate capital. In this paper we analyze the...
Persistent link: https://www.econbiz.de/10012476943
We consider public debt from a long-term historical perspective, showing how the purposes for which governments borrow have evolved over time. Periods when debt-to-GDP ratios rose explosively as a result of wars, depressions and financial crises also have a long history. Many of these episodes...
Persistent link: https://www.econbiz.de/10012479450
understanding world oil markets …
Persistent link: https://www.econbiz.de/10012462043
The Great Depression was marked by a severe outbreak of protectionist trade policies. But contrary to the presumption that all countries scrambled to raise trade barriers, there was substantial cross-country variation in the movement to protectionism. Specifically, countries that remained on the...
Persistent link: https://www.econbiz.de/10012463508
Cap and trade systems are emerging as the front-running policy choice to address climate change concerns in many countries. One of the apparent attractions of this approach is the ability to achieve hard limits on emissions over a control period. The cost of achieving this certainty on emission...
Persistent link: https://www.econbiz.de/10012463525