Showing 1 - 10 of 339
China and the U.S. have a close but complicated economic relationship. This note provides a fuller picture of the tightening embrace between the two countries – in terms of flows of goods and services, financial capital and people – and discusses the potential flashpoints in this...
Persistent link: https://www.econbiz.de/10003936187
We analyze shifts in the structure of China's capital outflows over the past decade. The composition of gross outflows has shifted from accumulation of foreign exchange reserves by the central bank to nonofficial outflows. Unlocking the enormous pool of domestic savings could have a significant...
Persistent link: https://www.econbiz.de/10012178659
Persistent link: https://www.econbiz.de/10012121618
Employer-provided nonwage benefit expenditures now account for one-third of U.S. firms' labor costs. We show that a broad measure of real labor costs including such benefit expenditures has become countercyclical during 1982-2014, contrary to the conventional view that labor costs are...
Persistent link: https://www.econbiz.de/10011796363
Persistent link: https://www.econbiz.de/10012543530
Persistent link: https://www.econbiz.de/10012596122
Persistent link: https://www.econbiz.de/10011799203
Employer-provided nonwage benefit expenditures now account for one-third of U.S. firms' labor costs. We show that a broad measure of real labor costs including such benefit expenditures has become countercyclical during 1982-2014, contrary to the conventional view that labor costs are...
Persistent link: https://www.econbiz.de/10012453448
This paper explores how corporate taxes affect the financial structure of multinational banks. Guided by a simple theory of optimal capital structure it tests (i) whether corporate taxes induce subsidiary banks to raise their debt-asset ratio in light of the traditional debt bias; and (ii)...
Persistent link: https://www.econbiz.de/10014395548
This paper explores how much firm-paid employee benefits and firms' financial conditions have contributed to delayed employment recoveries relative to output since 1990, using a DSGE model. Empirically, I document the underexplored pro-cyclicality of per worker benefit costs. Post-1990 period...
Persistent link: https://www.econbiz.de/10010227889