obtain 8% and 1%. Dynamic scoring for the EU-14 shows that 54% of a labor tax cut and 79% of a capital tax cut are self-financing …We compare Laffer curves for labor and capital taxation for the US, the EU-14 and individual European countries, using … US can increase tax revenues by 30% by raising labor taxes and by 6% by raising capital income taxes. For the EU-14 we …

present a model that explains the slow recovery of bank capital and economic activity. Banks provide intermediation in markets …

European nations substitute between employment protection regulations and labor market expenditures (e.g., unemployment … adjustments than other labor insurance mechanisms. Venture capital and private equity investors are especially sensitive to these … labor adjustment costs. Nations favoring labor expenditures as the mechanism for providing worker insurance developed …

constraint. Our evidence indicates that constrained firms planned deeper cuts in tech spending, employment, and capital spending …

markedly as public and private sectors look inward when external financing becomes prohibitively costly, altogether impossible …, driven importantly by increased "liability" home bias in finance and by official capital outflows. We present evidence from …

We develop a model of the joint capital structure decisions of banks and their borrowers. Strikingly high bank leverage … underlie our structural model, we can quantify the impact capital regulation and other government interventions have on bank … taking by banks, but increased risk taking by firms. Capital regulation lowers bank leverage but can lead to compensating …

suggests that although bank lending to firms declines during the crisis, bond financing actually increases to make up much of …

When external capital markets are stressed they may not reallocate resources between firms. We show that resource … allocation within firms' internal capital markets provides an important force countervailing financial market dislocation. Using … financial sector. We estimate a structural model of internal capital market to separately identify and quantify the forces …

exposures to NBFI and dollar funding, with less priority for regulations focused on residency (i.e., capital controls). After …