Mostrando recursos 1 - 7 de 7

  1. Output Volatility, Economic Growth, and Cross-Country Spillovers: New Evidence for the G7 Countries

    Antonakakis, Nikolaos; Badinger, Harald
    This paper considers the linkages between output growth and output volatility for the sample of G7 countries over the period 1958M2-2011M7, thereby paying particular attention to spillovers within and between countries. Using the VAR-based spillover index approach by Diebold and Yilmaz (2012), we identify several empirical regularities: i) output growth and volatility are highly intertwined, with spillovers taking place into all four directions; ii) the importance of spillovers has increased after the mid 1980s and reached unprecedented levels during the recent financial and economic crisis; iii) the US has been the largest transmitter of output and volatility shocks to other countries. Generalized impulse response analyses point to moderate...

  2. Output Volatility, Economic Growth, and Cross-Country Spillovers: New Evidence for the G7 Countries

    Antonakakis, Nikolaos; Badinger, Harald
    This paper considers the linkages between output growth and output volatility for the sample of G7 countries over the period 1958M2-2011M7, thereby paying particular attention to spillovers within and between countries. Using the VAR-based spillover index approach by Diebold and Yilmaz (2012), we identify several empirical regularities: i) output growth and volatility are highly intertwined, with spillovers taking place into all four directions; ii) the importance of spillovers has increased after the mid 1980s and reached unprecedented levels during the recent financial and economic crisis; iii) the US has been the largest transmitter of output and volatility shocks to other countries. Generalized impulse response analyses point to moderate...

  3. Die Körperschaftsteuer als eigene EU-Steuer - Finanzwissenschaftliche Untersuchung möglicher Modellcharakteristika einer europäischen Körperschaftsteuer

    Schweizer, Philip
    Im Rahmen der vorliegenden Dissertation wird, unter Berücksichtigung steuerökonomischer, steuertechnischer und finanzierungsseitiger Aspekte, ein umfassender konzeptiver Modellvorschlag einer einheitlichen europäischen Körperschaftsteuer erarbeitet, deren Aufkommen (teilweise) zur Finanzierung des Haushaltes der EU dienen kann. Als Ausgangspunkt für das Modelldesign werden zunächst insbesondere die Auswirkungen des Steuerwettbewerbs, die Anforderungen an die Körperschaftsbesteuerung im Binnenmarkt, bisherige Koordinierungsinitiativen in diesem Bereich sowie die Ansprüche an die Steuer als Finanzierungsquelle der EU deskriptiv beziehungsweise qualitativ analysiert. Die angestellten finanzwissenschaftlichen Erwägungen führen zum Ergebnis, dass ein System mit einem Zuschlag auf eine gemeinsame konsolidierte Körperschaftsteuer-Bemessungsgrundlage (i.d.F. kurz "EU-KöSt") den an die Steuer gestellten Anforderungen am besten...

  4. Business Cycle Synchronization During US Recessions Since the Beginning of the 1870's

    Antonakakis, Nikolaos
    This paper examines the synchronization of business cycles across the G7 countries during US recessions since the 1870's. Using a dynamic measure of business cycle synchronization, results depend on the globalisation period under consideration. On average, US recessions have significantly positive effects on business cycle co-movements only in the period following the breakdown of the Bretton Woods system of fixed exchange rates, while strongly decoupling effects among the G7 economies are documented during recessions that occurred under the classical Gold Standard. During the 2007-2009 recession, business cycles co-movements increased to unprecedented levels. (author's abstract)

  5. Globalization, Inequality, and Corruption

    Badinger, Harald; Nindl, Elisabeth
    This paper presents new empirical evidence on the determinants of corruption, focussing on the role of globalization and inequality. The estimates for a panel of 102 countries over the period 1995-2005 point to three main results: i) Detection technologies, reflected in a high level of development, human capital, and political rights reduce corruption, whereas natural resource rents increase corruption. ii) Globalization (in terms of both trade and financial openness) has a negative effect on corruption, which is more pronounced in developing countries. iii) Inequality increases corruption, and once the role of inequality is accounted for, the impact of globalization on corruption is halved. In line with recent theory,...

  6. Globalization, Inequality, and Corruption

    Badinger, Harald; Nindl, Elisabeth
    This paper presents new empirical evidence on the determinants of corruption, focussing on the role of globalization and inequality. The estimates for a panel of 102 countries over the period 1995-2005 point to three main results: i) Detection technologies, reflected in a high level of development, human capital, and political rights reduce corruption, whereas natural resource rents increase corruption. ii) Globalization (in terms of both trade and financial openness) has a negative effect on corruption, which is more pronounced in developing countries. iii) Inequality increases corruption, and once the role of inequality is accounted for, the impact of globalization on corruption is halved. In line with recent theory,...

  7. Cross-Border Mergers and Domestic Wages: Integrating Positive 'Spillover' Effects and Negative 'Bargaining' Effects

    Clougherty, Joseph A.; Gugler, Klaus; Sørgard, Lars
    The existing literature concerning the impact of cross-border merger activity on domestic wages can be split into two camps: 1) those focusing on positive 'spillover' effects; 2) those focusing on negative 'bargaining' effects. Motivated in part by the lack of scholarship spanning these two literatures, we provide a theoretical model that nests these two mechanisms in one conceptual framework. From our theoretical model we are able to predict that 'spillover' effects tend to be more dominant under low unionization rates, while 'bargaining' effects tend to be more dominant under high unionization rates; furthermore, 'spillover' effects tend to be more dominant with inward cross-border mergers, while 'bargaining' effects tend...

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