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It is well known that much of the recorded foreign direct investment (FDI) to the People’s Republic of China is financed by domestically generated funds that leave the country to return as ‘roundtripping’ FDI. This paper provides one of the very few estimates of the magnitude of this form...
Persistent link: https://www.econbiz.de/10011282427
Target-Kredite im Eurosystem – Die Stellungnahmen der Bundesbank – Was sind Target-Salden? – Kreditverlagerung – Zur ökonomischen Interpretation der Kreditverlagerung – Target-Kredite, Leistungsbilanz und Kapitalverkehr – Fünf vor zwölf – Target-Salden in den USA – Anhang:...
Persistent link: https://www.econbiz.de/10011693126
This volume was prepared by Sebastian Benz while he was working at the Ifo Institute. It was completed in December 2013 and accepted as a doctoral thesis by the Department of Economics at the University of Munich. It includes five self-contained chapters. All chapters discuss different...
Persistent link: https://www.econbiz.de/10011698346
This contribution provides evidence for the hypothesis that trade increases growth through its curbing effect on capital taxes. The analysed trade-growth channel includes a negative impact of open- ness on corporate taxes and a negative effect of taxes on growth. The paper explores the two steps...
Persistent link: https://www.econbiz.de/10011753108
level targeted by the central bank, generally increase aggregate demand. We resort to a simple model with a credit channel … to argue that FX purchases, by funding bank credit, end up increasing aggregate and money demand, while expanding loans … entail a larger money supply, higher output and larger money demand. Recent Brazilian evidence is reviewed, showing that this …
Persistent link: https://www.econbiz.de/10011807413
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This paper attempts to address both theoretical and practical considerations for a tax such as financial transactions taxes (FTT). It includes examples of FTT in the wider context, for example, on stocks and derivatives, currency transactions, and tangible property. Most of the discussion...
Persistent link: https://www.econbiz.de/10011807660
Managing capital flows is the key policy challenge for emerging economies like India in the aftermath of the crisis. In contrast to other emerging markets who are levying capital controls, India's macro-monetary framework is distinguished by significant restrictions that help manage inflows....
Persistent link: https://www.econbiz.de/10011807663
Die Europäische Währungsunion steckt in einer tiefen Zahlungsbilanzkrise. Insbesondere Griechenland, Irland, Portugal und Spanien wiesen in der Vergangenheit Leistungsbilanzdefizite auf, die sich bis März 2011 auf 314 Milliarden Euro akkumulierten. Dies entspricht dem Stand der aggregierten...
Persistent link: https://www.econbiz.de/10010312118
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