We investigate the relationship between borrower risk and loan maturity in small business lending. Using a rich dataset on new loans extended to German firms, we find a robust, significantly positive, monotonic…
States often grant banks guarantees to prevent the collapse of the financial system. However, these guarantees must be withdrawn again as quickly as possible. The potential implications of withdrawing guarantees…
The current international tax system diverges greatly from a theoretically 'optimal' tax system. One reason for this discrepancy may be that politicians strive for other objectives rather than making tax rules…
