place toxic assets in one or more bad banks has gained steam in recent weeks. The following paper presents a plan how … governments can efficiently relieve ailing banks from toxic assets by transferring these assets into a publicly sponsored work … government. The risk to taxpayers from this investment would be acceptable, however, once the banks are freed from toxic assets …

While there is an extensive literature on tax evasion a further aspect of cheating on the state, namely benefit fraud … differences between benefit fraud and tax evasion due to differing social norms. We define the concepts of benefit morale and tax … large micro data set of respondents from 29 OECD member countries, shows that benefit morale and tax morale have different …

While politically attractive in order to generate tax revenues, the effects of a financial transaction tax (FTT) are … provide experimental evidence on the different effects of a FTT, depending on whether it is implemented as a tax on markets …, on residents, or a combination of both. We find that the effects of a tax on markets are different from a tax on …

We test whether financial fluctuations affect firms' decisions, through their impact on banks' cost of funding. We …-2012 sovereign debt crisis. Using newly available data linking over 3,000, mostly privately-held, non-financial firms to their bank(s …), we find that increases in Italian banks' CDS spreads and decreases in their equity valuations lead younger and smaller …