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Further Evidence on Defence Spending and Economic Growth in NATO Countries

Ozun, Alper; Erbaykal, Erman - 2011

using the Toda-Yamamoto approach to Granger causality test in the case of selected NATO countries for the period of 1949 …-2006. NATO countries spend biggest proportion of defence spending in the world. Granger causality test on defence-growth issue … relationship between defence spending and growth. The results show that unidirectional causality exists in seven NATO countries …

Persistent link: https://www.econbiz.de/10010500182

Collateral damage: trade disruption and the economic impact of war

Taylor, Alan M.; Glick, Reuven - 2005

Conventional wisdom in economic history suggests that conflict between countries can be enormously disruptive of economic activity, especially international trade. Yet nothing is known empirically about these effects in large samples. We study the effects of war on bilateral trade for almost all...

Persistent link: https://www.econbiz.de/10010266399

The Compliance Process of Food Quality Standards on Primary Producer Level:A Case Study of the EUREPGAP Standard in the Moroccan Tomato Sector

Chemnitz, Christine - Universität <Berlin, Humboldt-Universität> / … - 2007

Fruit and vegetable sectors are principally seen as sectors where small producers are able to participate due to their low demand on land and their high labor requirements. However, the concerns exists that small producers' participation in the international fruit and vegetable trade could be...

Persistent link: https://www.econbiz.de/10009302570

Optimal Securitization with Heterogeneous Investors

Malamud, Semyon; Rui, Huaxia; Whinston, Andrew B. - Swiss National Centre of Competence in Research North … - 2010

We solve the problem of optimal securitization for an issuer facing heterogeneous investorswith arbitrary time and risk preferences. We show that the optimal securitizationis characterized by multiple nonlinear tranches, and each investor gets a portfolio of thesetranches. In particular, when...

Persistent link: https://www.econbiz.de/10009305109

Property Derivatives and Index-Linked Mortgages

Syz, Juerg; Vanini, Paolo; Salvi, Marco - Institut für Schweizerisches Bankwesen <Zürich> - 2006

Economists have forcefully argued for the introduction and use of property derivatives as a hedge against house price risk (e.g. Shiller and Weiss, 1999). The rationale for these ﬁnancial instruments seems clear, as many households are heavily invested in housing and standard ﬁnancial...

Persistent link: https://www.econbiz.de/10005858211

The Price of Protection : Derivatives, Default Risk, and Margining

Gibson, Rajna; Murawski, Carsten - Institut für Schweizerisches Bankwesen <Zürich> - 2007

Like many financial contracts, derivatives are subject to default risk. A very popular mechanism in derivatives markets to mitigate the risk of non-performance on contracts is margining. By attaching collateral to a contract, margining supposedly reduces default risk. The broader impacts of the...

Persistent link: https://www.econbiz.de/10005858762

Trade credit, collateral liquidation and borrowing constraints

Fabbri, Daniela; Menichini, Anna Maria C. - Institut für Schweizerisches Bankwesen <Zürich> - 2007

The paper investigates the determinants of trade credit and its interactions with borrowing constraints and the input combination of the firm, within an incomplete contract setting in which firms use a two-input technology and collateralised credit contracts. Assuming that the supplier is better...

Persistent link: https://www.econbiz.de/10005858766

Fixing the system: An analysis of alternative proposals for the reform of international tax

Grubert, Harry; Altshuler, Rosanne - 2013

We evaluate proposals for the reform of the U.S. system of taxing cross-border income including dividend exemption, full current inclusion, a Japanese type version of dividend exemption with an effective tax rate test subject to an exception for an active business, dividend exemption combined...

Persistent link: https://www.econbiz.de/10010334266

Recent Developments in the Debate on Deferral

Altshuler, Rosanne - 2000

In this paper, I attempt to bring the debate over deferral up to date. The paper is divided into three sections. The first starts with a review of traditional models of international tax systems to provide a basic understanding of the efficiency consequences of deferral. This section then...

Persistent link: https://www.econbiz.de/10010334268

Has U.S. Investment Abroad Become More Sensitive to Tax Rates?

Altshuler, Rosanne; Newlon, T. Scott; Grubert, Harry - 2002

We use data from the U.S. Treasury corporate tax files for 1984 and 1992 to address two related questions concerning the investment decisions of U.S. multinational corporations. First, how sensitive are investment location decisions to tax rate differences across countries? And second, have...

Persistent link: https://www.econbiz.de/10010334271

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