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Author: Francesco Caramazza
Publisher:
ISBN:
Category : Asset-liability management
Languages : en
Pages : 88
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Author: Francesco Caramazza
Publisher:
ISBN:
Category : Asset-liability management
Languages : en
Pages : 88
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Author: Gerald Stuber
Publisher:
ISBN:
Category : Banking law
Languages : en
Pages : 0
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Author: Geoffroy de Schrevel
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Author: Helen Popper
Publisher: Routledge
ISBN: 1351342762
Category : Business & Economics
Languages : en
Pages : 100
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Book Description
Originally published in 1997, Issues in International Capital Mobility addresses a few of the ambiguities arising in empirical investigations of capital market openness. It does this by taking existing empirical approaches and adapting them to new markets and to new assets. It also examines the properties of one statistical method used to assess the extent of international capital mobility. This book will appeal to those working or studying in the field of economics and finance.
Author: Christian Pierdzioch
Publisher:
ISBN:
Category :
Languages : en
Pages : 32
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Author: Helen Ann Popper
Publisher:
ISBN:
Category :
Languages : en
Pages : 230
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Author: Ary Lans Bovenberg
Publisher:
ISBN:
Category : Balance of trade
Languages : en
Pages : 70
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This paper uses a dynamic computable general equilibrium model to compare, in an economy open to international capital flows, the effects of two U.S. policies intended to promote domestic capital formation. The two policies -- the introduction of an investment tax credit (ITC) and a reduction in the statutory corporate income tax rate -- differ in their treatment of old (existing) and new capital. The model features adjustment dynamics, intertemporal optimization by U.S. and foreign households and firms endowed with model-consistent expectations, imperfect substitution between domestic and foreign assets in portfolios, an integrated treatment of the current and capital accounts of the balance of payments, and industry disaggregation in the United States. We find that the two policies (scaled to imply the same revenue cost) differ in their consequences for foreign and domestic welfare, the balance of payments accounts, international competitiveness, and U.S. industrial structure. The ITC produces larger domestic welfare gains because it is more effective in reducing intertemporal distortions, while the two policies have similar implications for intersectoral efficiency. From the point of view of domestic welfare, the relative attractiveness of the ITC is enhanced when international capital mobility is taken into account, a reflection of international transfers of wealth associated with foreign ownership of part of the U.S. capital stock. Whereas reducing the corporate tax rate improves the trade balance initially, introducing the ITC causes a deterioration of the trade balance in the short run. Reflecting a lower real exchange rate, export-oriented sectors perform better relative to non-tradable industries under a lower corporate tax rate than in the presence of the lTC, especially in the short run.
Author: Federal Reserve Bank of New York
Publisher:
ISBN:
Category : Capital market
Languages : en
Pages : 516
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Author: Leonardo Leiderman
Publisher: Cambridge University Press
ISBN: 9780521454384
Category : Business & Economics
Languages : en
Pages : 400
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Book Description
This edited volume examines capital mobility in both industrialised and developing countries.
Author: Masahiro KAWAI
Publisher:
ISBN:
Category :
Languages : en
Pages :
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