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Persistent link: https://www.econbiz.de/10011893448
Using a comprehensive high-frequency foreign exchange dataset, we present evidence of time-of-day effects in foreign exchange returns through a significant tendency for currencies to depreciate during local trading hours. We confirm this pattern across a range of currencies and time zones. We...
Persistent link: https://www.econbiz.de/10009521479
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This paper analyzes the effects of a land rent tax on capital formation and foreign investment in a life-cycle small … out foreign investment and pulls up national wealth and consumption when consumers are lump-sum compensated for the tax …
Persistent link: https://www.econbiz.de/10011591783
Persistent link: https://www.econbiz.de/10003882794
(playing together) and non-signatories (playing individually) select their investment in R&D. Finally, in the third stage, each … country decides its level of emissions non-cooperatively. For linear environmental damages and quadratic investment costs, our …
Persistent link: https://www.econbiz.de/10010344228
The paper tries to evaluate the optimal entry mode of a Multinational Company that is choosing among export, fragmented production structure with assembly-line FDI in LDC or complete production in LDC with FDI. The results show that if the plant installation cost is sufficiently high then the...
Persistent link: https://www.econbiz.de/10008773053
We gauge the de-facto capital account openness of the Chinese and Indian economies by testing the law of one price on the basis of onshore and offshore price gaps for three key financial instruments. Generally, the three measures show both economies becoming more financially open over time. Over...
Persistent link: https://www.econbiz.de/10010402814
enjoys an 'exorbitant privilege' on flow income from foreign assets, which is primarily related to foreign direct investment … FDI investment in 'tax optimisation' countries, the improper consideration of intellectual property, or financial … investment positions of a number of central and southern European countries were greatly supported by EU transfers. Valuation …
Persistent link: https://www.econbiz.de/10011797678
We investigate the relation between foreign exchange (FX) order flow and the forward bias. We outline a decomposition of the forward bias according to which a negative correlation between interest rate differentials and order flow creates a time-varying risk premium consistent with that bias....
Persistent link: https://www.econbiz.de/10011396784