Showing 1 - 10 of 266
Cost-efficiency, scale efficiency, and productivity change are estimated by data envelopment analysis; and cost-efficiency is regressed on explanatory variables. No evidence is found for average productivity responding to deregulation over the period studied. State-owned banks are found to be...
Persistent link: https://www.econbiz.de/10014401366
This paper investigates the currency reforms undertaken subsequent to the dissolution of the Austro-Hungarian Empire in 1918. The reforms were motivated by the lack of coordination of monetary policy and the absence of a rule for sharing seigniorage. Because the Successor States’ reforms were...
Persistent link: https://www.econbiz.de/10014398287
Following renewed academic and policy interest in the destination-based principle for taxing profits-particularly through a destination-based cash flow tax (DBCFT)-this paper studies other forms of efficient destination-based taxes. Specifically, it analyzes the Destination-Based Allowance for...
Persistent link: https://www.econbiz.de/10011932507
Austria faces significant population aging. This will increase public spending on pensions, health care, and long-term care, while tax and social security revenues will fall. This paper analyzes the fiscal burden facing Austria due to aging and the policy steps necessary to address it. The paper...
Persistent link: https://www.econbiz.de/10014399726
This paper provides an overview of full and partial allowance for corporate equity (ACE) tax systems in practice. In the recent past, ACE systems have been used in Austria, Croatia, and Italy. Brazil still applies a variant of such a system and Belgium introduced one this year. This paper...
Persistent link: https://www.econbiz.de/10014400269
Austria has probably the world’s highest pension expenditures relative to its economic size, largely because of the generosity of its pension system. This paper examines the institutional setup of the Austrian pension system and projects its future development based on current policies. The...
Persistent link: https://www.econbiz.de/10014400309
The Austrian government is about to introduce a new fiscal management framework. The first step is to introduce a medium-term budgetary framework, including an expenditure rule. The paper focuses on this first step. The purpose is to describe and evaluate the Austrian model in light of other...
Persistent link: https://www.econbiz.de/10014401747
This paper investigates the determinants of bank funding costs for a sample of internationally active banks from 2001 …–12. We find that changes in banks’ unsecured funding costs are associated with bank-specific characteristics such as an … subprime crisis and the Euro Area sovereign debt crisis—have also been key drivers of the sharp rise in bank funding costs. We …
Persistent link: https://www.econbiz.de/10014411212
We investigate whether low loan-to-deposit (LTD) ratios and high levels of reserve balances at the central bank (or … to lend or sometimes weak investment demand in uncertain environments. We examine changes to central bank (CB) balance … unsterilized increases in FX. Third, CB policy decisions seem to be accompanied by an increase in commercial bank reserve money …
Persistent link: https://www.econbiz.de/10014411341
bond returns are high. At the bank level, bondholdings correlate negatively with subsequent lending during sovereign …
Persistent link: https://www.econbiz.de/10014411356