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In this paper, we define a new class of richness measures. In contrast to the often used headcount, these new measures are sensitive to changes in rich individuals' incomes and, therefore, allow for a more sophisticated analysis of richness. We demonstrate the application of these new measures in analyzing the development of poverty and richness over time in Germany. Moreover, we compare Germany to many other European countries and investigate the impact of tax reforms on poverty and richness. Using these examples, we show the importance of taking the intensity of changes into account and not only the number of people beyond a given richness line (headcount). We propose to use the new measures in addition to the headcount index for a more comprehensive analysis of richness. 相似文献
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This paper investigates whether the new Basel Accord will induce a change in bank lending to emerging markets using a comprehensive new data set on German banks’ foreign exposure. We test two interlinked hypotheses on the conditions under which the change in the regulatory capital would leave lending flows unaffected. This would be the case if (i) the new regulatory capital requirement remains below the economic capital and (ii) banks’ economic capital to emerging markets already adequately reflects risk. On both accounts the evidence indicates that the new Basel Accord should have a limited effect on lending to emerging markets. 相似文献
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Francesca Biagini Jean‐Pierre Fouque Marco Frittelli Thilo Meyer‐Brandis 《Mathematical Finance》2019,29(1):329-367
We specify a general methodological framework for systemic risk measures via multidimensional acceptance sets and aggregation functions. Existing systemic risk measures can usually be interpreted as the minimal amount of cash needed to secure the system after aggregating individual risks. In contrast, our approach also includes systemic risk measures that can be interpreted as the minimal amount of cash that secures the aggregated system by allocating capital to the single institutions before aggregating the individual risks. An important feature of our approach is the possibility of allocating cash according to the future state of the system (scenario‐dependent allocation). We also provide conditions that ensure monotonicity, convexity, or quasi‐convexity of our systemic risk measures. 相似文献
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Thilo W. Glebe 《Review of Agricultural Economics》2007,29(1):87-102
Offering agri-environmental payments to address the various positive and negative environmental nonmarket effects of European Union agriculture might be an efficient way of dealing with market imperfections. However, the complex interaction between farming practices and agri-environmental effects makes it difficult to assess what level of payments is justified under World Trade Organization's Green Box provisions. In reviewing the literature on positive and negative externalities of European farming on the environment, we find evidence to suggest that paying for agri-environmental improvements may be appropriate under the Green Box provisions, even if the payments have a positive production effect. 相似文献
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Is a flat tax reform feasible in a grown-up democracy of Western Europe? A simulation study for Germany 总被引:1,自引:0,他引:1
Clemens Fuest Andreas Peichl Thilo Schaefer 《International Tax and Public Finance》2008,15(5):620-636
The success of the flat rate income tax in eastern Europe suggests that this concept could also be a model for countries of
western Europe. The present paper uses a simulation model to analyze the effects of revenue neutral flat rate tax reforms
on equity and efficiency for the case of Germany. We find that a flat rate tax with a low tax rate and a low basic allowance
yields positive static welfare effects amounting to approximately 1.8% of income tax revenue but increases income inequality.
The increase in income inequality can be avoided by combining a higher tax rate with a higher basic allowance. But in this
case, the efficiency gains vanish. We conclude that due to their limited efficiency effects and their problematic distributional
impact, flat tax reforms are unlikely to spill over to the grown-up democracies of western Europe.
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