n this paper we argue that very high marginal labor income tax rates are an effective tool for social insurance even when households have preferences with high labor supply elasticity, make dynamic savings decisions, and policies have general equilibrium effects. To make this point we construct...

Unser globales Wirtschaftssystem ist kaputt. Es ist geprägt von globalen Umbrüchen, Unsicherheit und mangelnder Nachhaltigkeit. Aber wir können das derzeitige ökonomische System durch ein anderes ersetzen - eine Wirtschaft, die für alle Menschen und den Planeten funktioniert. Was müssen...

The main purpose of this paper is to examine the relationship between stock prices and exchange rates in Malaysia, for the periods immediately before and during the 1997 Asian crisis, and during the currency unpegged period. This research considers high-frequency data of USD-MYR exchange rates...

Following some recent empirical papers we focus on the key feature of Pecking-order theory (POT) - the existence and the extent of asymmetric information between firms' insiders and outsiders. We analyze the debt-equity choice for financing a two-stage investment and consider different...