Using a unique dataset of more than 1 million loans made by 296 German banks, we evaluate the impact of many aspects of customer–bank relationships on loan default rates. Banks need historical data about their…
This paper studies the maturity structure of sovereign debt in the euro area and the penetration of the sovereign debt stock with a new type of collective action clauses (CACs), labeled Creditor Participation…
Prices and returns are alternative ways to present financial market information and to elicit financial market expectations. But do investors make sense of prices and returns in the same way? Also, do they state…
One aim of the Innovation Union is to promote Openness and Europe’s Creative Potential. In order to achieve this goal 5 different commitments have been implemented within the Innovation Union: - C19:…
One aim of the Innovation Union is to create a Single Innovation Market. In order to achieve this goal, 5 different commitments have been implemented within the Innovation Union: - C14:…
Abstract This paper analyzes externalities of patent box regimes in Europe. Tax reductions in foreign affiliates of a firm that also provide a profit shifting opportunity reduce the user cost of capital and…
