This paper studies the effect of currency depreciation in Greece and Cyprus using panel data from 1969 to 1998. An empirical model, which includes monetary as well as fiscal variables in addition to exchange rates, is developed. Two versions of this model, one with the real exchange rate and...

This study employs a large, micro-data set to examine the use of incentives and bonuses in the contracts of CEOs of banking firms in the USA in an effort by the owners of these banking concerns to curb potential expense preference behaviour by the CEO. Fixed-effects regression results confirm...

Following Mann's (National Tax Journal, 33, 189-201, 1980) study, five different versions of Wagner's law are empirically examined using annual time-series data on ten countries over the period 1951 to 1996. Included are three of the emerging industrialized countries of Asia: South Korea,...

Deregulation during the 1980s allowed savings and loan associations to undertake many of the same activities as mutual savings banks, so that competition among thrifts increased, and they became more homogeneous in nature. At the same time, according to agency theory, mutual institutions should...