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Sovereigns and Financial Intermediaries Spillovers
Tabarraei, Hamid - 2019
We examine the spillover effects between sovereigns and banks in a model with a heterogeneous banking system. An increase in sovereign's default risk affects financial intermediaries through two channels in this model. First, banks' funding costs might increase, inducing higher interest rates on...
Persistent link: https://www.econbiz.de/10012889148
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Decentralization and international tax competition
Wilson, John F.; Janeba, Eckhard - 2003
country s decentralization level serves as a strategic tool through its influence on the mix of horizontal and vertical …
Persistent link: https://www.econbiz.de/10011514157
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Decentralization and international tax competition
Janeba, Eckhard; Wilson, John D. - 2003
country's decentralization level serves as a strategic tool through its influence on the mix of horizontal and vertical …
Persistent link: https://www.econbiz.de/10001733378
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ADB Distinguished Speakers Program : Poverty and Redistribution in Emerging Economies
Mirrlees, James A. - 2012
This presentation is about poverty and redistribution in emerging economics. It was prepared for the Asian Development Bank’s Distinguished Speakers Program held on 25 October 2011 at the ADB Headquarters. Various types of poverty alleviation programs are discussed, and the central role of...
Persistent link: https://www.econbiz.de/10014173233
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Fiscal Decentralisation and Economic Development in Nigeria : Empirical Evidence from VECM Model
Adefeso, Adetola Hammed - 2018
This study examines long run and causal relationship between fiscal decentralization and economic development in … causality test showed a unidirectional causality run from economic development to fiscal decentralization i.e. economic … development granger causes fiscal decentralization (only sub-national revenue decentralization ratio) in Nigeria. By implication …
Persistent link: https://www.econbiz.de/10012937328
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Decomposing Long Bond Returns : A Decentralized Modeling Approach
Carr, Peter - 2020
This paper develops a decentralized theory that determines the fair value of the yield-to-maturity of a bond or bond portfolio based purely on the near-term dynamics of the yield itself. The theory decomposes the yield into three components: its expected change, its risk premium, and its...
Persistent link: https://www.econbiz.de/10012848388
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Voting With Time Commitment for Decentralized Governance : Bond Voting as a Sybil-Resistant Mechanism
Mohan, Vijay; Khezr, Peyman; Berg, Chris - 2022
Blockchain applications are increasingly experimenting with novel governance mechanisms that address issues that are important for their community: resistance to voter fraud in the form a Sybil attack; resistance to the formation of a plutocracy within the community; and, the ability to express...
Persistent link: https://www.econbiz.de/10014237282
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The Replacement of Safe Assets : Evidence from the U.S. Bond Portfolio
Bertaut, Carol C. - 2015
The expansion in financial sector "safe" assets, largely in the form of structured products from the U.S. and the Caribbean, in the lead-up to the global financial crisis has by now been fairly well documented. Using a unique dataset derived from security-level data on U.S. portfolio holdings of...
Persistent link: https://www.econbiz.de/10013027545
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The home bias in sovereign ratings
Fuchs, Andreas; Gehring, Kai - 2015 - This version: May 2015
Credit rating agencies are frequently criticized for producing biased sovereign ratings. This article discusses how the home country of rating agencies could affect rating decisions as a result of political economy influences and cultural distance. Using data from nine agencies based in six...
Persistent link: https://www.econbiz.de/10011284918