We analyze the problem of introducing a new substitute for a polluting process while the environmental effects of this substitute are uncertain but will be resolved over time. The chlorofluorocarbons may serve…
Contributions to Edited Volumes and Conference Proceedings
//
2002
This paper attempts to answer the question whether the threat of systemic risk in banking exists only on a national or on a European level. Following De Nicolo and Kwast (2001), mean rolling-window…
With the introduction of the Euro, a single European money market has emerged. Further wholesale financial markets are considered to be highly integrated within the European Union. However, integration in…
In general, the allocation of income of multinational enterprises to several jurisdictions for corporate tax purposes follows the OECD standard of the arm’s length principle. In contrast to the theory of the…
