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Catching-up and Inflation in Europe: Balassa-Samuelson, Engel's Law and other Culprits

Egert, Balazs - CESifo - 2010

This study analyses the impact of economic catching-up on annual inflation rates in the European Union with a special focus on the new member countries of Central and Eastern Europe. Using an array of estimation methods, we show that the Balassa-Samuelson effect is not an important driver of...

Persistent link: https://www.econbiz.de/10008596582

Bank Networks: Contagion, Systemic Risk and Prudential Policy

Aldasoro, Inaki; Gatti, Domenico Delli; Faia, Ester - CESifo - 2015

We present a network model of the interbank market in which optimizing risk averse banks lend to each other and invest …

Persistent link: https://www.econbiz.de/10011155379

How should Financial Intermediation Services be Taxed?

Lockwood, Benjamin - CESifo - 2010

equilibrium when banks have monopoly power, justifying a Pigouvian tax in this case. …

Persistent link: https://www.econbiz.de/10008727277

EU Banks Rating Assignments: Is there Heterogeneity between New and Old Member Countries?

Caporale, Guglielmo Maria; Matousek, Roman; Stewart, Chris - CESifo - 2010

differences in financial factors, which may reflect differences in country risk and the legal and regulatory framework that banks …

Persistent link: https://www.econbiz.de/10008583666

Banking Crisis Resolution Policy - Lessons from Recent Experience - which elements are needed for robust and efficient crisis resolution?

Mayes, David G. - CESifo - 2009

The current financial crisis has sparked intense debate about how weak banks should be resolved. Despite international …

Persistent link: https://www.econbiz.de/10008583712

Home Bank Intermediation of Foreign Direct Investment

Poelhekke, Steven - CESifo - 2011

This paper investigates the benefits of banks’ direct investment in foreign subsidiaries and branches for non …-financial multinationals. The paper builds on the literature on international banks which has primarily focused on the implications for host … the volume of FDI by home market banks boosts FDI by non-financial firms from the same home market. Domestic and third …

Persistent link: https://www.econbiz.de/10009147744

Thin-Capitalization Rules and Company Responses Experience from German Legislation

Weichenrieder, Alfons; Windischbauer, Helen - CESifo - 2008

By granting intracompany loans to their foreign affiliates, multinational firms may reduce their tax liability abroad. Many countries have legislated thin-capitalization rules (TCRs) that limit the allowable levels of intracompany loans or restrict interest deductibility if certainthresholds are...

Persistent link: https://www.econbiz.de/10005406131

Stock Market Returns, Corporate Governance and Capital Market Equilibrium

Parigi, Bruno Maria; Pelizzon, Loriana; Thadden, … - CESifo - 2013

This paper proposes a theoretical model that incorporates corporate governance into the basic CAPM, where corporate governance affects the disutility of managerial effort and the possibility of managers to divert company resources. It shows that corporate governance affects firms’ stock...

Persistent link: https://www.econbiz.de/10010720638

CCS - Failing to Pass Decision Gates

Emhjellen, Magne; Osmundsen, Petter - CESifo - 2014

There is a planning gap for CCS projects in Europe. CCS demonstration plants are not implemented as expected. This fact is at odds with optimistic valuation reports that apply socio-economic valuation criteria for climate projects. However, CCS plants are in most cases to be implemented by...

Persistent link: https://www.econbiz.de/10010888457

Profit Taxation and Finance Constraints

Keuschnigg, Christian; Ribi, Evelyn - CESifo - 2010

model, are no longer neutral when firms are finance constrained. (iii) When banks are active and provide external finance … banks, investment is subject to double moral hazard and the timing of tax payments becomes important. The ACE system gives …

Persistent link: https://www.econbiz.de/10008572543