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Bank Ownership and Performance
Micco, Alejandro; Panizza, Ugo; Yañez, Mónica - 2004
This paper builds a new dataset on bank ownership and bank performance covering approximately 50,000 observations for 119 countries over the 1995-2002 period. The paper then uses the dataset to reassess the relationship between bank ownership and bank performance, providing separated estimations...
Persistent link: https://www.econbiz.de/10010327143
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Should the Government Be in the Banking Business? The Role of State-Owned and Development Banks
Yeyati, Eduardo Levy; Micco, Alejandro; Panizza, Ugo - 2004
This paper surveys the theoretical and empirical literature on the role of state-owned banks and also presents some new results and a robustness analysis. The paper shows that state-owned banks located in developing countries have fiscal costs because they are characterized by lower returns than...
Persistent link: https://www.econbiz.de/10010327147
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Favourable cost-benefit in an early defibrillation program using dual dispatch of ambulance and fire services in out-of-hospital cardiac arrest
Sund, Björn; Svensson, Leif; Rosenqvist, Mårten; … - 2010
Aims: Out-of-hospital cardiac arrest (OHCA) is fatal without treatment and time to defibrillation is an extremely important factor in relation to survival. We performed a cost-benefit analysis of dual dispatch defibrillation by ambulance and fire services in the County of Stockholm,...
Persistent link: https://www.econbiz.de/10012654363
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A Note on High-Speed Rail Investments and Travelers' Value of Time
Hultkrantz, Lars - 2012
High-Speed Rail (HSR) is designed for travelers with high value of time. HSR offer fast and reliable services and good possibilities for work during the journey. Surprisingly, these benefits of HSR investment proposals are often appraised by use of travel-time valuations of people who use...
Persistent link: https://www.econbiz.de/10012654383
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Risk-adjusted long term social rates of discount for transportation infrastructure investment
Hultkrantz, Lars; Krüger, Niclas A.; Mantalos, Panagiotis - 2012
We modify a method recently suggested by Martin Weitzman (2012) for determining a risk-adjusted social discount rate (SDR) term structure consistent with both the (augmented) Ramsey rule and the consumption-based CAPM. Using this approach we estimate SDR for transportation infrastructure...
Persistent link: https://www.econbiz.de/10012654384
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Estimating "Gamma" for Tail-hedge Discount Rates When Project Returns Are Co-integrated with GDP
Hultkrantz, Lars; Mantalos, Panagiotis - 2016
Weitzman (2012, 2013) has suggested a method for calculating social discount rates for long-term investments when project returns are covariant with consumption or other macroeconomic variables, so called "tail-hedge discounting". This method relies on a parameter called "real project gamma"...
Persistent link: https://www.econbiz.de/10012654414
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Privatization in Austria: Some theoretical reasons and performance measures
Schneider, Friedrich; Belke, Ansgar - 2004
The issues of privatization (and sometimes deregulation) have been reviewed in a large literature on the various … aspects of privatization, that has emphasized the potential efficiency gains. Hence, we provide some theoretical reasoning why … privatization is useful as well as profitable for an economy and empirically present the extent of privatization in Austria and …
Persistent link: https://www.econbiz.de/10010294495
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Recent claims of China's economic exceptionalism: Reflections inspired by WTO accession
Woo, Wing Thye - 2001
The desirability of WTO membership for China depends on whether its economic successes have been the result of its discovery of new institutional forms (e.g. dual track pricing, SOE contracts, and fiscal contracts) that are optimal for China''s particular economic circumstances, or have been the...
Persistent link: https://www.econbiz.de/10010318608
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Feldstein's rhetoric of private retirement accounts
Avsar, Rojhat B. - 2008
. Martin Feldstein's pro-privatization rhetoric relative to Social Security is first analyzed. A subsequent comparison his … rhetoric to that of George W. Bush concludes that both the political and the economic rhetoric of Social Security privatization …
Persistent link: https://www.econbiz.de/10010288065
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Market Belief, Trading Volume, Price Volatility, andLiquidity
Wang, Songtao - Swiss National Centre of Competence in Research North … - 2010
This paper studies the effects of investors’ heterogeneous beliefs on the trading volume,price volatility, and liquidity of stocks. Following Kurz and Motolese (2008), wepropose a simple theoretical model to show that the equilibrium stock price is linearlyand positively correlated with market...
Persistent link: https://www.econbiz.de/10009305076