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Systemically Important Banks in Europe: Risk, Complexity and Cross-Jurisdictional Activities

. 20, issue 2, 203-211. 10. Li, X., Tripe, D. W., Malone, C. B. (2017). Measuring bank risk: An exploration of z-score. Available at SSRN 2823946. 11. Roy, A. D. (1952). Safety first and the holding of assets. Econometrica , vol. 20, issue 3, 431-449. 12. Schaeck, K., Cihák, M. (2012). Banking competition and capital ratios. European Financial Management , vol. 18, issue 5, 836-866. 13. Schaeck, K., Cihák, M., Wolfe, S (2006). Competition, concentration and bank soundness: New evidence from the micro-level. IMF Working Paper No. 06

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Efficiency vs. The Level of Per Capita Income of Urban-Rural Municipalities in Poland

Abstract

The basic objective of the work was to verify the hypothesis regarding the existence of the correlation between the income potential of the municipalities and the efficiency (relative) of their activity. The basis for such a hypothesis were some concerns as to the validity of the assumed system of funding territorial local governments in Poland- in particular in the area of fiscal transfers. A nonparametric method for the evaluation of relative efficiency - the DEA CCR-O was used in the research. Then the correlation between efficiency scores and local government revenues per capita was measured. The study includes 573 urban-rural municipalities in Poland in the years 2009, 2013, and 2016. As variable “input” expenditures per-capita were adopted. As “outputs”, 13 variables describing the basic areas of municipal activity were adopted. The results of the conducted analyses point to the existence of a correlation between the commune’s revenue level and the effectiveness of its functioning. In the whole of the analysed period, the correlation fluctuated around -0.34 to -0.42 for total pc revenues and -0.26 to -0.32 for pc own revenues.

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Financial Liquidity as a Factor Determining the Economic Condition of Companies on the Capital Market in Relation to Bankruptcy Law in Poland

R eferences Altman, E.I. (1968). Financial Ratios, Discriminant Analysis and the Prediction of Corporate Bankruptcy. The Journal of Finance, 23 (4), 589-609. Altman, E.I., (2000). Predicting Financial Distress of Companies: Revisiting the Z-Score and Zeta® Models. New York University: School of Business, 9-12. Altman, E.I., Marco, G., Varetto, F. (1994). Corporate Distress Diagnosis: Comparisons Using Linear Discriminant Analysis and Neural Networks (The Italian Experience). Journal of Banking and Finance, Vol. 18, Issue 3, 505

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Dynamic Fiscal Solvency with Consumption and Capital Taxes

Sydsæter. 1987 Optimal Control Theory with Economic Applications New York Elsevier North-Holland [6] Schättler, Heinz and Urszula Ledzewicz.2012. Geometric Optimal Control. Theory, Methods and Examples New York: Springer-Verlag. Schättler Heinz Urszula Ledzewicz 2012 Geometric Optimal Control. Theory, Methods and Examples New York Springer-Verlag [7] Strulik, Holger and Timo Trimborn. 2012. “Laffer Strikes Again: Dynamic Scoring of Capital Taxes”. European Economic Review (56)6: 1180–1199. 10.1016/j.euroecorev.2012.05.002 Strulik Holger

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Labor Migration in Indonesia and the Health of Children Left Behind

omitted variable bias in the estimated effects of parental migration. The results suggest that whether parental migration is beneficial or deleterious to child health depends on which parent moved. Migration of the mother has an adverse effect on child height-for-age, whereas migration of the father has no effect. This finding is important because of the long temporal reach of health in childhood; a plethora of empirical evidence shows that poorer health in early life leads to lower educational attainment ( Almond, 2006 ; Case et al., 2005 ), lower scores in high

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Unemployment Impact of Product and Labor Market Regulation: Evidence from European Countries

index). Note: Luxembourg, Slovak Republic, Estonia, and Slovenia are not presented in the graph because data are not available at the beginning of the period. Source : OECD. PMR, product market regulation. In recent years, liberalization of the product market has slowed down in European countries. Between 1998 and 2003, the average PMR score fell by 0.46 compared to 0.26 between 2003 and 2008 and 0.14 between 2008 and 2013. The pace of reforms may have slowed down, because most countries have already reached a low level of regulation. The potential

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Diaspora Externalities

empirical and theoretical findings by Rauch and Trindade (2002) and Rauch and Casella (2003) , the authors find weaker effects for entrepreneurs and business-class immigrants. The authors explain this result with the selection of immigrants in these classes. Business immigrants are admitted to Canada primarily because of capital (investors) or because they are artists (self-employed) and therefore do not bring trade knowledge or connections to Canada. Entrepreneur-class immigrants receive a 45-point (out of 70) bonus which may allow many to enter despite low scores on

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Asymmetric Information and the Discount on Foreign-Acquired Degrees in Canada

years of education and educational degree, they found that foreign-acquired education is valued less than education acquired in Canada. In their recent study, Fortin et al. (2016) found that controlling for source of human capital helps to account for a large share of the immigrant–native-born wage gap. Li and Sweetman (2014) used international test scores as a proxy for the quality of source country educational outcomes and found that there is a strong and positive association between returns to prearrival schooling in the host country and the quality of

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Economics of Artificial Intelligence: Implications for the Future of Work

limits (and hence potentially weaker protection). The output of AI tools (for instance, creative works) are, so far, not protected. Similarly, individual data are not being protected (but rather are considered confidential), including against false information ( Scassa, 2018 ). This is a particular challenge when workers, customers, or debtors are shunned from market opportunities because of false information recorded in the databases on which AI algorithms base their assessment. Accounts of credit scoring systems shunning potential debtors from financial services

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Measuring Financial Distress and Predicting Corporate Bankruptcy: An Index Approach

Abstract

In this paper, we follow Anderson et al. (2009) and suggest a simple approach to employ a set of financial ratios as inputs to estimate an aggregate bankruptcy index (ABI). This index is a within sample measure, ranges between 0 and 1, and ranks the firms on the basis of their relative financial distress. ABI can be used to predict the propensity of financial failure and corporate bankruptcy. For the purpose of comparison and assessment of the robustness of this index, we estimate Z-score by multivariate discriminant analysis, using the same set of financial ratios to compare the predictive accuracy of two approaches.

We find that, to some extent, ABI can predict the bankruptcy of the firms more accurately than Z-score. The empirical results of the paper suggest that ABI has relatively robust predictive power and, therefore, can be applied together with other, based on parametric and non-parametric models to predict corporate bankruptcy.

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