Showing 1 - 10 of 47
This paper uses U.S. panel data to estimate the effect of expected effective corporate tax rates on firm’s leverage. The paper directly estimates expected corporate tax rates using rational expectations. The estimated measures of the expected effective tax rates of firms are related to a...
Persistent link: https://www.econbiz.de/10014400818
Active wholesale financial markets help reallocate deposits across heterogeneous banks. Because of incentive problems, these flows are constrained and collateral is needed. Both the volume, the value, and the composition of collateral matter. We make a distinction between "outside collateral"...
Persistent link: https://www.econbiz.de/10011533711
Persistent link: https://www.econbiz.de/10012602575
Persistent link: https://www.econbiz.de/10012792610
We study whether a central bank should deviate from its objective of price stability to promote financial stability. We tackle this question within a textbook New Keynesian model augmented with capital accumulation and microfounded endogenous financial crises. We compare several interest rate...
Persistent link: https://www.econbiz.de/10012794628
Persistent link: https://www.econbiz.de/10012799467
Persistent link: https://www.econbiz.de/10012872647
Persistent link: https://www.econbiz.de/10013188285
This paper uses the co-incidence of extreme shocks to banksu0092 risk to examine within country and across country contagion among large EU banks. Banksu0092 risk is measured by the first difference of weekly distances to default and abnormal returns. Using Monte Carlo simulations, the paper...
Persistent link: https://www.econbiz.de/10009636520
The paper analyses the relationship between deposit insurance, debt-holder monitoring, and risk taking. In a stylised banking model we show that deposit insurance may reduce moral hazard, if deposit insurance credibly leaves out non-deposit creditors. Testing the model using EU bank level data...
Persistent link: https://www.econbiz.de/10009636525