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Differential taxation and firms' financial leverage: Evidence from the introduction of a flat tax on interest income

Fossen, Frank; Simmler, Martin - 2012

income, often introducing differential taxation between interest and business income. In this study, we analyze the effect of … introduced a flat final withholding tax and opened a gap of 18 percentage points between the tax rate on income from … unincorporated businesses and the new lower tax rate on interest income. We apply a regression adjusted semi-parametric difference …

Persistent link: https://www.econbiz.de/10010308295

Distributional effects of the European Emissions Trading System and the role of revenue recycling: Empirical evidence from combined industry- and household-level data

Cludius, Johanna; Beznoska, Martin; Steiner, Viktor - 2012

analyzed on the basis of the German Income and Expenditure Survey for the year 2008 data and updated to 2013. We confirm the ex … revenue recycling, in particular the reduction of social security contributions on labour income. …

Persistent link: https://www.econbiz.de/10010308296

What drives Ireland's housing market? A Bayesian DSGE approach

Gareis, Johannes; Mayer, Eric - 2012

In this paper we study the drivers of fluctuations in the Irish housing market by developing a dynamic stochastic general equilibrium (DSGE) model of Ireland as a member of the European Monetary Union (EMU). We estimate the model with Bayesian methods using time series for both Ireland and the...

Persistent link: https://www.econbiz.de/10010308300

Earlier or later in CGE-models: The case of a tax reform proposal

Honerkamp, Josef; Moog, Stefan; Raffelhüschen, Bernd - 2002

The German Income Tax Reform 2000 was welcomed by the public as a step towards unleashing lurking growth potentials … German Income Tax Reform should be brought forward as a means of stimulating the stuttering engine of the German economy … answer of what to do. The paper presents the welfare analysis of the early German Income Tax Reform within a simplified CGE …

Persistent link: https://www.econbiz.de/10010308321

Explaining the US bond yield conundrum

Bandholz, Harm; Clostermann, Jörg; Seitz, Franz - 2007

We analyze if and to what extent fundamental macroeconomic factors, temporary influences or more structural factors have contributed to the low levels of US bond yields over the last few years. For that purpose, we start with a general model of interest rate determination. The empirical part...

Persistent link: https://www.econbiz.de/10010308389

Employment effects of innovation at the firm level

Rottmann, Horst; Lachenmaier, Stefan - 2007

This paper analyzes empirically the effects of innovation on employment at the firm level using a uniquely long panel dataset of German manufacturing firms. The overall effect of innovations on employment often remains unclear in theoretical contributions due to reverse effects. We distinguish...

Persistent link: https://www.econbiz.de/10010308392

Linkage between productivity and innovation in different service sectors

Rõigas, Kärt - 2011

The purpose of the paper is to find out whether linkages between productivity and innovation are different among Estonian service sector sub-sectors. In this paper productivity is measured as value added per employee. An original approach toward measurement of productivity is used, decomposing...

Persistent link: https://www.econbiz.de/10010308403

Cash, hoarding and the underground economy

Pickhardt, Michael; Sardà, Jordi - 2011

We further refine the Modified-Cash-Deposits-Ratio (MCDR) approach, developed by Pickhardt and Sardà (2011, 2012) with a view to analyze size and causes of the cash using section of the underground economy. Among other things, we address the issue of cash hoarding. Findings include that the...

Persistent link: https://www.econbiz.de/10010308477

Early life conditions and financial risk-taking in older age

Christelis, Dimitris; Dobrescu, Loretti I.; Motta, Alberto - 2011

socioeconomic status, cognitive abilities and health problems influence portfolio choice and risk attitudes later in life. After …

Persistent link: https://www.econbiz.de/10010308548

Going public - going private: The case of VC-backed firms

Gill, Andrej; Walz, Uwe - 2012

We investigate the decisions of listed firms to go private once again. We start by revealing that while a significant number of firms which go public is VC-backed, an overproportional share of these VC-backed firms go private later on (they stay on the exchange for an average of 8.5 years). We...

Persistent link: https://www.econbiz.de/10010308550