This paper examines the impact of a major change in dividend taxation introduced in the UK in July 1997. The reform was structured in such a way that the immediate impact fell almost entirely on the largest investor class in the UK, namely pension funds. We analyse the behaviour of share prices...

Despite active scientific research into the geological sequestration of carbon dioxide, little is known about how the public perceives geosequestration technologies designed to reduce greenhouse gas emissions by capturing and storing carbon dioxide in underground sites. Thus, through an online...

Remarks at the Barclays Global Inflation Conference, New York City.

Remarks before the New York Association for Business Economics, New York City.

Remarks at the Regional Economic Press Briefing, New York City.

Remarks to the Association of Certified Public Accountants of Puerto Rico, San Juan, Puerto Rico.

Several recent studies document that the extent to which banks transmit shocks across borders depends on the type of foreign activities these banks engage in. This paper proposes a model to explain the composition of banks’ foreign activities, distinguishing between international interbank...