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Optimal Taxation of Human Capital and Credit Constraints

Jacobs, Bas - 2002

We study optimal linear income taxation in a model with heterogeneous agents where earnings potentials are endogenously determined through human capital accumulation. Agents differ in initial conditions and ability to learn. Capital market imperfections prevent poor agents to invest optimally in...

Persistent link: https://www.econbiz.de/10010324813

Labor Share Fluctuations in Emerging Markets: The Role of the Cost of Borrowing

Kabaca, Serdar - 2011

This paper contributes to the literature by documenting labor income share fluctuations in emerging economies and proposing an explanation for them. We show that emerging markets differ from developed markets in terms of changes in the labor share over the business cycle. Labor share is more...

Persistent link: https://www.econbiz.de/10010500184

Saving on a Rainy Day, Borrowing for a Rainy Day

Alan, Sule; Crossley, Thomas; Low, Hamish - 2012

The aim of this paper is to understand what a recession means for individual consumers, and to model in a life-cycle framework how individuals respond to recessions. Our focus is on the sharp increase in savings rates that have been observed in the current and recent recessions. We show...

Persistent link: https://www.econbiz.de/10010500212

Exporters and credit constraints. A firm-level approach

Muûls, Mirabelle - 2008

By building a theoretical model and taking it to the data with two novel datasets, this paper analyses the interaction between credit constraints and exporting behaviour. Building a heterogeneous firms model of international trade with liquidity-constrained firms yields several predictions on...

Persistent link: https://www.econbiz.de/10011506660

A Note on Credit-Worthiness Tests

Kirstein, Roland; Neunzig, Alexander R. - 1999

-ante. According to the theory of imperfect diagnosis, it can be rational not to use an informative diagnosis result, even though it … nebst Zinsen zurückzuzahlen. Gemäß der Theorie imperfekter Entscheidungen kann es rational sein, ein Signal selbst dann …

Persistent link: https://www.econbiz.de/10010296951

Empirical measurement of credit rationing in agriculture: a methodological survey

Petrick, Martin - 2003

-classical equilibrium theory. The fourth approach takes an intermediate position, since spill-over on segmented loan markets reveals a … angewandte Methoden zur Messung von Kreditrationierung zu geben. Auf der Grundlage eines gemeinsamen analytischen Bezugsrahmens … Kreditrationierung die Unmöglichkeit, einen Kredit zu erhalten aufgrund von prohibitiv hohen, messbaren Transaktionskosten auf …

Persistent link: https://www.econbiz.de/10010299438

Risiken für die Emerging Markets in Mittel- und Osteuropa vor dem Hintergrund der Erfahrungen Thailands, Mexikos und Tschechiens

Sell, Friedrich L. - 1999

von Sachs/Tornell/Velasco (1996) gewählt, der durch Einbeziehung von Kreditrationierung und Haftungsbeschränkung erweitert …

Persistent link: https://www.econbiz.de/10010300400

Credit Rationing Effects of Credit Value-at-Risk

Slijkerman, Jan Frederik; Smant, David J.C.; de Vries, … - 2004

Banks provide risky loans to firms which have superior information regarding the quality of their projects. Due to asymmetric information the banks face the risk of adverse selection. Credit Value-at-Risk (CVaR) regulation counters the problem of low quality, i.e. high risk, loans and therefore...

Persistent link: https://www.econbiz.de/10010325499

A constitutional theory of the family

Cigno, Alessandro - 2005

The paper re-examines the idea that a family can be viewed as a community governed by a self-enforcing constitution, and extends existing results in two directions. First, it identifies circumstances in which a constitution is renegotiation-proof. Second, it introduces parental altruism. The...

Persistent link: https://www.econbiz.de/10010267482

Austerity

Dellas, Harris; Niepelt, Dirk - 2014

We shed light on the function, properties and optimal size of austerity using the standard sovereign debt model augmented to include incomplete information about credit risk. Austerity is defined as the shortfall of consumption from the level desired by a country and supported by its repayment...

Persistent link: https://www.econbiz.de/10011430112

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