in Oxford Economic Papers
April 2014; p ublished online April 2013 .
Journal Article. Subjects: Fiscal Policies and Behaviour of Economic Agents; Tax Law; Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook. 8178 words.
This paper studies the short-term macroeconomic effects of legislated tax changes in Germany using a five-variable vector autoregression (VAR) framework. Identification of the tax shock...
in The Review of Financial Studies
September 2011; p ublished online June 2011 .
Journal Article. Subjects: Money and Interest Rates; Banking; Financial Regulation; Property Law; Household Analysis. 22052 words.
We quantify the effect of recourse on default and find that recourse affects default by lowering the borrower's sensitivity to negative equity. At the mean value of the default option for...