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Profit Taxation and Finance Constraints
Keuschnigg, Christian; Ribi, Evelyn - CESifo - 2010
In the absence of financing frictions, profit taxes reduce investment by their effect on the user cost of capital. With finance constraints due to moral hazard, investment becomes sensitive to cash-flow and own equity of firms. We propose a corporate finance model of investment and derive three...
Persistent link: https://www.econbiz.de/10008572543
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Profit Taxation and Finance Constraints
Keuschnigg, Christian; Ribi, Evelyn - C.E.P.R. Discussion Papers - 2009
In the absence of financing frictions, profit taxes reduce investment by their effect on the user cost of capital. With finance constraints due to moral hazard, investment becomes sensitive to cash-flow and own equity of firms. We propose a corporate finance model of investment and derive three...
Persistent link: https://www.econbiz.de/10005082537
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Profit Taxation and Finance Constraints
Keuschnigg, Christian; Ribi, Evelyn - Saïd Business School, Oxford University - 2009
In the absence of financing frictions, profit taxes reduce investment by their effect on the user cost of capital. With finance constraints due to moral hazard, investment becomes sensitive to cash-flow and own equity of firms. We propose a corporate finance model of investment and derive three...
Persistent link: https://www.econbiz.de/10005025252
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International Differences in the Agricultural Price Level: Factor Endowments, Transportation Costs, and the Political Economy of Agricultural Protection
Clague, Christopher; Desser, Arna - In: Eastern Economic Journal 24 (1998) 3, pp. 281-292
agricultural trade and its protection of agriculture. In turn, the structure of a country's agricultural trade is a function of its … resource endowment and its level of agricultural protection. The level of agricultural protection is a function of the …
Persistent link: https://www.econbiz.de/10005418711
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Immiserizing Growth in a Developing Economy Export Enclave
Saha, Nitesh; Gilbert, John - In: International Journal of Business and Economics 3 (2004) 3, pp. 217-224
Using a general equilibrium model of a protected developing economy, we demonstrate that imperfect labor mobility may eliminate the possibility of immiserizing growth from foreign investment in an export enclave by allowing job creation to countervail losses in tariff revenue.
Persistent link: https://www.econbiz.de/10010600162
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Innovation, Trade, and Finance
Egger, Peter; Keuschnigg, Christian - C.E.P.R. Discussion Papers - 2011
comparative advantage in producing innovative goods. We illustrate how protection, R&D subsidies, and financial sector development …
Persistent link: https://www.econbiz.de/10009150949
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Winners and Losers of Services Liberalization
Thenuwara, H.N. - In: South Asia Economic Journal 12 (2011) 2, pp. 307-322
In this research note, we develop a model of the services sector liberalization through Modes 3 and 4 where capital is brought to the home country. Foreign capital owners compete with domestic capital owners in producing services. Results in this research note show that domestic labour is better...
Persistent link: https://www.econbiz.de/10010683618
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India's Trade Policy For Sale: How Much? Who Buys?
Cadot, Olivier; Grether, Jean-Marie; Olarreaga, Marcelo - C.E.P.R. Discussion Papers - 2003
This Paper proposes a new method to test the Grossman-Helpman model of endogenous protection and lobby formation. This … trade protection purposes and calculates equilibrium contributions directly from the model using structural parameter … counter-lobbying from downstream users on endogenous protection. Applied to India, it yields results that are qualitatively …
Persistent link: https://www.econbiz.de/10005661615
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Russia's European Economic Integration: Escapism and Realities
Hamilton, Carl B - C.E.P.R. Discussion Papers - 2003
Both Russia and the EU are undertaking significant changes in foreign trade relations. Russia seeks WTO accession and the EU has concluded negotiations enlarging the union with ten new members. Against this background, what economic relationship can EU and Russia develop? The Paper analyses the...
Persistent link: https://www.econbiz.de/10005667019
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Comparative Advantage in International Trade: Theory
Ursulescu, Mirela - Department of Economics and Finance Research and … - 1996
Based on the Heckscher-Ohlin-Vanek (H-O-V) theory, the paper develops theoretical models that lead to estimating cross-industry equations in a proper way, when allowing for departures from some of the strong assumptions of the H-O theory, such as perfect competition, equal factor unit...
Persistent link: https://www.econbiz.de/10005823265