By A.H. Chen
11 papers during this quantity current a few present attention-grabbing and demanding examine in finance. established upon the CAPM, Chen and Kane convey that double taxation and differential tax premiums on a private and capital-gains source of revenue, impact company inventory values and fiscal rules in nonneutral methods. Sengupta indicates tax evasion judgements of a monopolist in a price-ceiling regulatory atmosphere. of their paper, Osterberg and Thomson empirically research the effect of state-level deposit choice legislation on solution kind and prices for all working FDIC-BIF insured advertisement banks that have been closed, or required FDIC monetary suggestions, from January 1986 via December 1992. Peek and Wilcox exhibit that in classes of foreign monetary crises, or of household financial tension, the government-sponsored firms (GSEs) are well matched to stabilize loan markets.In their paper, Chen, Robinson and Siems empirically convey the organization among banks' subordinated debt and their personal loan revenues actions and its implications within the transmission mechanism of economic coverage. additionally during this quantity, Lin et al. use the Granger causality try to envision the linkage among the euro trade expense and the money offer and GDP within the euro neighborhood, in addition to its impression at the united kingdom trade expense and the London inventory alternate marketplace index. of their paper, Kane and Muzere expand the Diamond-Dybvig version of financial institution runs to an open industry financial system and convey that including the significant banks and the IMF, promises will lessen, yet no longer dispose of the banking in addition to foreign money crises. The paper by way of Chung et al. empirically exhibits the presence of a protracted reminiscence, estate in foreign money, destiny markets, and discusses its hedging implications. of their paper, Lee, Lee and Yu enhance a valuation version for the pension profit promises that includes the plan termination stipulations in addition to a stochastic rate of interest. In a case examine, Hung et al. empirically convey that the especially designed dividends (SDD) have confident signs within the Taiwan inventory trade. eventually, of their paper, Guerard and Mark exhibit that using an R&D quadratic time period complements the mean-variance effective portfolios and stockholder returns.
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In addition, we confirm Osterberg’s (1996) finding of a positive impact of Fed Funds Sold, which might proxy for the quality of the loan portfolio. 21 The positive impact of Size is consistent with higher FDIC administrative and legal expenses for larger banks. Neither Predicted Resolution Type nor ICORE (Predicted Resolution Type times Core Deposits) has significant effects on resolution cost. The former is consistent with the FDIC choosing resolution type so as to minimize resolution cost. However, the latter is inconsistent with the loss of franchise under liquidation being a significant influence on costs.
Tax compliance. Journal of Economic Literature, 36(June), 818–860. Baron, D. P. (1989). Design of regulatory mechanisms and institutions. In: R. Schmalensee & R. Willig (Eds), Handbook of Industrial Organization (Chap. 24, pp. 1347–1447). North Holland. , & Tirole, J. (1988). Government intervention in production and incentives theory: A review of recent contributions. Rand Journal of Economics, 19(Spring), 1–26. , & Lee, D. R. (1986). On taxation and understated monopoly profits. National Tax Journal, 39(June), 241–243.
However a higher price ceiling induces higher mis-reporting and evasion so that the final outcome is not clear. The first step towards deriving optimal policies of the government is to derive some measures of social welfare that the government should be maximizing. The literature analyzing the issues of social optimum under regulatory policies usually uses the notion of consumer surplus to characterize social optimum. Such use is justified if it is assumed that all consumers are identical and have utility functions separable in the monopoly good and all other goods, and if the utility function is linear in all other commodities.