Institutional lending in crisis is evaluated from a theoretical point of view. First, the share of senior loans in new loans is irrelevant under a given probability distribution of the country's resources...
In developing countries, most financial assets in formal markets are deposits at financial institutions. This potentially important tax base could be taxed at a low administrative cost. When revenues of...
The paper surveys recent work on tax reforms in dynamic economies where the level of capital and the factor prices are endogenous. The presentation emphasizes methodological issues. The framework for the...
The purpose of the paper is to discuss some aspects of the second best taxation in developing economies in relation to the analysis of tax reforms. A brief intuitive review of indirect taxation in the...