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We analyze differences in the pricing of syndicated loans between U.S. and European loans. For credit lines, U.S. borrowers pay significantly higher spreads, but also lower fees, resulting in similar total costs of borrowing in both markets. For term loans, U.S. firms pay significantly higher...
Persistent link: https://www.econbiz.de/10011436380
In summer 2011, elevated sovereign risk in Eurozone peripheral countries increased the solvency risk of Eurozone banks, precipitating a run on their short-term debt. We assess the effectiveness of different European Central Bank (ECB) interventions that followed – lender of last resort vs....
Persistent link: https://www.econbiz.de/10011436391
Die vorliegenden Überlegungen sind darauf gerichtet, die Ideen und wesentlichen Gedanken Nationaler Innovationssysteme aufzugreifen und in den Kontext einer wissensbasierten Ökonomie zu stellen. Neben den Akteuren oder Spielern geht es um die Regeln und Funktionsmechanismen und schließlich...
Persistent link: https://www.econbiz.de/10011440884
impacts on the EU. The methodological framework used is based on a multi-country and multi-sectoral computable general … equilibrium model for eleven EU-member states. The emphasis of the analysis lies on the institutional setting of a carbon dioxide … findings of the paper can be summarized as follows: 1) There is some potential for a double dividend in the EU. 2) Coordination …
Persistent link: https://www.econbiz.de/10011440942
Within the economic profession, it is a widely held view that the fiscal criteria of the Maastricht treaty are arbitrary numbers without economic foundation. Much of this criticism seems to overlook an important aspect - the strategic dimension of the criteria. This paper focuses on one...
Persistent link: https://www.econbiz.de/10011441024
Währungsunion. Hintergrund für diese Erweiterung ist das in Deutschland, aber auch in manchen anderen EU-Staaten, zu beobachtende …
Persistent link: https://www.econbiz.de/10011441036
can be found in literature and in empirical applications, such as the GEM-E3 General Equilibrium Model for the EU … specification are proposed and tested using an EU-wide ecological tax reform scenario. The first change refers to the rest of the …
Persistent link: https://www.econbiz.de/10011441111
greenhouse gas entitlements and to analyse the potential impacts of these rules EU-wide as well as on the level of member states … multi-sectoral computable general equilibrium model for fourteen EU-member states. The major finding of the paper is that … EU economies allows smaller economies not to make full use of the advantages they get through the ability …
Persistent link: https://www.econbiz.de/10011441162
differentiated permit schemes, evaluating the U.S. Acid Rain and RECLAIM Program, and considering the setting in the EU-15 countries … addressed adequately by a differentiated bundle of countermeasures. The general economic impact of an EU-wide permit scheme is …
Persistent link: https://www.econbiz.de/10011441213
Are the characteristics of the exchange rate regime relevant for the degree of fiscal discipline? What are the conclusions for fiscal behavior in Europe after the transition to EMU? These are the central questions that are analyzed in this paper from a theoretical point of view. After a general...
Persistent link: https://www.econbiz.de/10011441669