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Legislation, regulation and litigation : demand for U.S. legal services in historical perspective

Reshef, Ariell; Slattery, Cailin - 2025

The employment share of legal services in the U.S. more than doubled during 1970–1990, in stark contrast to stability during 1850–1970 and after 1990. The relative wage of lawyers and law firm partners also doubled between 1970 and 1990. We argue that this demand shift was driven by...

Persistent link: https://www.econbiz.de/10015197274

Holes in the dike : the global savings glut, US house prices and the long shadow of banking deregulation

Hoffmann, Mathias; Stewen, Iryna - 2015

We explore empirically how capital inflows into the US and financial deregulation within the United States interacted … measure of financial liberalization, we focus on the history of interstate-banking deregulation during the 1980s, i.e. prior … of deregulation: in states that opened their banking markets to out-of-state banks earlier, house prices were more …

Persistent link: https://www.econbiz.de/10010515411

Network utilities in the U.S. : sector reforms without privatization

Vogelsang, Ingo - 2004

California disaster. Part of the explanation for these difficulties stems from past successful liberalization and deregulation …

Persistent link: https://www.econbiz.de/10011402612

Softening the blow : U.S. state level banking deregulation and sectoral reallocation after the China trade shock

Hoffmann, Mathias; Ruslanova, Lilia - 2021

U.S. state-level banking deregulation during the 1980’s mitigated the impact of the China trade shock (CTS) on local …

Persistent link: https://www.econbiz.de/10012438347

External monetary shocks and monetary integration : evidence from the Bulgarian currency board

Minea, Alexandru; Rault, Christophe - 2011

Starting July the 1st 1997, Bulgaria adopted a Currency Board (CB) monetary system. This paper aims at investigating if the adoption of the CB monetary system, which involves the cost of loosing monetary autonomy, has provided a relatively better (with respect to other CEEC) monetary integration...

Persistent link: https://www.econbiz.de/10009012188

Thin capitalization rules and multinational firm capital structure

Blouin, Jennifer L.; Huizinga, Harry; Laeven, Luc; … - 2014

This paper examines the impact of thin capitalization rules that limit the tax deductibility of interest on the capital structure of the foreign affiliates of US multinationals. We construct a new data set on thin capitalization rules in 54 countries for the period 1982-2004. Using confidential...

Persistent link: https://www.econbiz.de/10010256736

Persistence and cycles in the US Federal Funds rate

Caporale, Guglielmo Maria; Gil-Alaña, Luis A. - 2012

This paper uses long-range dependence techniques to analyse two important features of the US Federal Funds effective rate, namely its persistence and cyclical behaviour. It examines annual, monthly, bi-weekly and weekly data, from 1954 until 2010. Two models are considered. One is based on an...

Persistent link: https://www.econbiz.de/10009687196

The rate of return on everything, 1870-2015

Jordà, Òscar; Knoll, Katharina; Kuvshinov, Dmitry; … - 2018

This paper answers fundamental questions that have preoccupied modern economic thought since the 18th century. What is the aggregate real rate of return in the economy? Is it higher than the growth rate of the economy and, if so, by how much? Is there a tendency for returns to fall in the...

Persistent link: https://www.econbiz.de/10011794864

Non-linearities and persistence in US long-run interest rates

Caporale, Guglielmo Maria; Gil-Alaña, Luis A.; … - 2020

This note examines the stochastic behaviour of US monthly 10-year government bond yields. Specifically, it estimates a fractional integration model suitable to capture both persistence and non-linearities, these being two important properties of interest rates. Two series are analysed, one from...

Persistent link: https://www.econbiz.de/10012383724

Forward guidance and household expectations

Coibion, Olivier; Georgarakos, Dimitris; Gorodnichenko, … - 2020 - This Draft: February 10th, 2020

We compare the causal effects of forward guidance communication about future interest rates on households' expectations of inflation, mortgage rates, and unemployment to the effects of communication about future inflation in a randomized controlled trial using more than 25,000 U.S. individuals...

Persistent link: https://www.econbiz.de/10012171803