The study aims to assess the distributional effects of taxing financial transactions including a focus on gender. It specifically investigates the impact of the low interest rate environment on tax revenues and distribution. The first part of the study is explorative, aiming to develop a concept...

In der Diskussion um die Rettung von Philipp Holzmann wurde häufig die These vertreten, das Unternehmen sei Opfer der Deutschland AG geworden. Gemeint war damit, daß der systematische Grund für den Niedergang des Konzerns in der engen Beziehung zur Deutschen Bank zu suchen ist. Dieses Papier...

Since the summer of 2007, participants in financial markets have been confronted by a crisis of their own making. In order to prevent the recurrence of a similar crisis in the future, the G-20 nations, at their finance summit in Washington on 15 November 2008, resolved to "ensure that all...

Within a framework of debt renegotiation and a priori private information, what is the role of outside and inside collateral? The literature shows that unobservability of the project’s returns implies that the high-risk borrower is more inclined to pledge outside collateral than is the...