Suche
Anzeige der Dokumente 41-50 von 153
Informal Sector and Economic Development: The Credit Supply Channel
(2015-05-01)
The standard view suggests that removing barriers to entry and improving judicial enforcement reduces informality and boosts investment and growth. However, a general equilibrium approach shows that this conclusion may ...
Aggregate and Distributional Effects of Increasing Taxes on Top Income Earners
(2015-07-13)
We analyze the macroeconomic implications of increasing the top marginal income tax rate using a dynamic general equilibrium framework with heterogeneous agents and a fiscal structure resembling the actual U.S. tax system. ...
On the Optimal Provision of Social Insurance
(2015-08-29)
In this paper we compute the optimal tax and education policy transition in an economy where progressive taxes provide social insurance against idiosyncratic wage risk, but distort the education decision of households. ...
On Deficits and Symmetries in a Fiscal Capacity
(2015-07-01)
"There is a growing debate about complementing the European Monetary Union by a more comprehensive fiscal union. Against this background, this paper emphasizes that there is a trade-off in designing a system of fiscal ...
Are Tax Havens Good? Implications of the Crackdown on Secrecy
(2015-07-01)
The pressure on tax haven countries to engage in tax information exchange shows first effects on capital markets. Empirical research suggests that investors do react to information exchange and partially withdraw from ...
A Quasi Real-Time Leading Indicator for the EU Industrial Production
(2016-01-04)
We build a quasi real-time leading indicator (LI) for the EU industrial production (IP). Differently from previous studies, the technique developed in this paper gives rise to an ex-ante LI that is immune to “overlapping ...
On the Distributive Effects of Inflation
(2015-06-01)
This paper undertakes a quantitative investigation of the effects of anticipated inflation on the distribution of household wealth and welfare. Consumer Finance Data on household financial wealth suggests that about a third ...
Entrepreneurial Spawning: Experience, Education, and Exit
(2016-02-29)
We investigate the career dynamics of high-tech entrepreneurs by analyzing the exit choice of entrepreneurs: to act as a business angel, to found another firm, or to become dependently employed. Our detailed data from ...
The Political Economy of Bank Bailouts
(2016-04-14)
In this paper, we examine how the institutional design affects the outcome of bank bailout decisions. In the German savings bank sector, distress events can be resolved by local politicians or a state-level association. ...
Commodities, Financialization, and Heterogeneous Agents
(2016-04-28)
The term 'financialization' describes the phenomenon that commodity contracts are traded for purely financial reasons and not for motives rooted in the real economy. Recently, financialization has been made responsible for ...