Argentina is known for its tax system, that has various mechanisms to collect taxes in advance, causing large immobilizations in illiquid tax credits in most companies. The objective of this paper is to analyze the effects that these tax advances regimes would generate on the payment capacity...

Summary This paper focuses on the question whether West German firms have experienced an increase in their financial risk position with due implications for the macroeconomy. The investigation is based on a special evaluation of the balance sheet statistics by the Deutsche Bundesbank broken down...