capital markets to foreign investment. Third, we find that the relative factor price of labor to capital, and capital … capital intensity are less affected by windfall shocks than their peers, possibly due to a larger share of the effect being … sectors in capital intensity helps cushion the volatility of oil shocks. …

labour and capital below unity. We show that compared to the Cobb-Douglas case, the likelihood of indeterminacy under a …It has been shown that under perfect competition and a Cobb-Douglas production function, a basic real business cycle … production functions, namely a constant elasticity of substitution production function. We show that the degree of …

institution’s credit worthiness and the return on its market value, and importantly, on the level and quality of capital … steps taken to increase resilience, notably higher capitalization. Our results suggest increased capital buffers may …

. The new estimates confirm the key results reported in Coe and Helpman about the impact of domestic and foreign R&D capital … stocks on TFP. In addition, we show that domestic and foreign R&D capital stocks have measurable impacts on TFP even after … controlling for the impact of human capital. Furthermore, we extend the analysis to include institutional variables, such as legal …

This paper considers the implementation challenges facing the Basel Committee’s new proposals on bank capital standards …. When compared with the existing Capital Accord, the proposals represent a shift across two intersecting dimensions …—regulatory versus economic capital, and rules-based versus process-oriented regulation. On minimum capital standards, the case for using …

affects human capital, and infrastructure expenditures that affect productivity. The paper finds that social expenditures lead … financed by consumption taxes; agents do not substitute between human and physical capital as a result of changes in …

and investment high. It finds that the low cost of capital has been quantitatively an important factor. Theory predicts … that the price of capital may have been significantly distorted in the 1990s and 2000s. The distortion could have been …

liquid and “clean” capital markets—are evaluated. We find that emerging markets do not satisfy the preconditions for the …