Franz R. Hahn
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View article: The Empirics of Balance Sheet Mechanics. Capital and Leverage in Small-scale Banking
The Empirics of Balance Sheet Mechanics. Capital and Leverage in Small-scale Banking Open
The prevailing view in the banking industry is that increased bank capital requirements drag down bank lending. This is because capital is assumed to impose higher funding costs on banks than debts. The leading scholarly view in finance ma…
View article: Spatial Competition. Empirical Evidence from Small-scale Banking
Spatial Competition. Empirical Evidence from Small-scale Banking Open
Stylised facts suggest that there is some "spatial structure" in the dynamics of cross-border lending of Austrian regional banks that seems to be closely related to the eastward enlargement of the European Union. This short paper provides …
View article: Geography, Institutions and Principles. Bits and Pieces of Empirical Evidence from Small-scale Banking
Geography, Institutions and Principles. Bits and Pieces of Empirical Evidence from Small-scale Banking Open
Theory suggests that the cross-border bank lending flow from rich countries to poor countries is facilitated when lending-related legal and social norms are shared and valued equally by both lenders and borrowers. According to this reasoni…
View article: Risk-Taking and Solvency Regulation in Banking – A Note –
Risk-Taking and Solvency Regulation in Banking – A Note – Open
Risk-Taking and Solvency Regulation in Banking – A Note – In a dynamic setting intertemporal effects can arise that render capital rules in banking as advocated by the Basel Committee of Banking Supervision counterproductive. It is quite p…
View article: Corporate Ownership and Performance. Going Public versus Going Private in Europe
Corporate Ownership and Performance. Going Public versus Going Private in Europe Open
This paper conducts an in-depth analysis of the impact of acquisitions, initial public offerings and management buyouts on productivity and profitability of a large sample of Europe-based manufacturing companies covering the period from 19…
View article: Trade-weighted Exchange Rate Indices and Foreign Markets Shares by Manufacturing Industries. Some Stylised Facts
Trade-weighted Exchange Rate Indices and Foreign Markets Shares by Manufacturing Industries. Some Stylised Facts Open
In this paper we make an attempt to extend the WIFO trade-weighted exchange rate index (TWI_ER) by computing export-weighted exchange rate indices for eight Austrian manufacturing industries covering the period from 1995 to 2005. The TWI_E…
View article: A Primer on Financial System Meltdown. The Economists' View
A Primer on Financial System Meltdown. The Economists' View Open
Ideologues are quick to explain the current financial meltdown: it's the markets, stupid. Economists agree but add: it's politics too, stupid. Ideologues agree but counter: first and foremost it's capitalism, stupid. Economists agree but r…
View article: Finance-Growth Linkage and Risk Diversification. Evidence from OECD Countries
Finance-Growth Linkage and Risk Diversification. Evidence from OECD Countries Open
Empirical evidence is increasingly emphasising the positive influence of financial markets on the level and the rate of growth of a country's per-capita income. Theoretically, the rationale for the finance-growth nexus appears to be straig…
View article: Testing for Profitability and Contestability in Banking
Testing for Profitability and Contestability in Banking Open
The paper investigates the determinants of banking profitability and banking market conditions in Austria. We conduct a panel econometric analysis which allows for testing the hypotheses which have become the most prominent in the literatu…
View article: X-Efficiency and International Banking. Micro-Evidence from OECD-based Banks
X-Efficiency and International Banking. Micro-Evidence from OECD-based Banks Open
This paper is aimed at exploring how X-efficiency or management quality is associated with one of the most vivid forms of international banking, that is, entering new markets by setting up foreign subsidiaries. The analysis focuses on the …
View article: Finance-Growth Nexus and the P-bias: Evidence from OECD Countries
Finance-Growth Nexus and the P-bias: Evidence from OECD Countries Open
Recent studies provide new empirical evidence confirming that financial development is linked to economic growth in OECD countries. Using new dynamic panel regression techniques, these appraisals indicate that within the group of high-inco…
View article: The Effects of Bank Capital on Bank Credit Creation
The Effects of Bank Capital on Bank Credit Creation Open
Dieser Artikel untersucht die quantitativen Auswirkungen von risiko-gewichtetem Bankeigenkapital auf das Wachstum von Bankenkrediten in Österreich. Die Untersuchungsperiode umfasst die Jahre 1996 bis 2000. Die panel-ökonometrische Analyse …
View article: Mergers and Acquisitions in the Austrian Banking Sector. A Performance Analysis
Mergers and Acquisitions in the Austrian Banking Sector. A Performance Analysis Open
In this paper we investigate the performance of the Austrian banks which have, either actively or passively, participated in a domestic intra-banking merger or acquisition operation since 1995. For this purpose we apply the DEA methodology…
View article: Measuring Performance. A Multiple-Stage Approach
Measuring Performance. A Multiple-Stage Approach Open
In this paper we deal with the measurement of technical efficiency (or X-efficiency) of institutions whose operations might be significantly affected by macroeconomic, environmental and non-controllable factors. For this purpose we introdu…
View article: Finance and the Business Cycle. The Ricardian Perspective
Finance and the Business Cycle. The Ricardian Perspective Open
A Ricardian-type set-up is used to explore the linkage between financial development and the business cycle. Though financial advancement may be good for growth due to making possible a higher degree of division of labor, it may, for the s…
View article: Fully-Funded Public Old Age Pension Programs Stranger Than Paradise?
Fully-Funded Public Old Age Pension Programs Stranger Than Paradise? Open
This paper discusses two topics which are at the very center of the ongoing political debate on public pension reform. First, we deal with the puzzle that there is a public pension system at all from a purely neoclassical point of view. Se…
View article: Long-run Homogeneity of Labour Demand. Panel Evidence from OECD Countries
Long-run Homogeneity of Labour Demand. Panel Evidence from OECD Countries Open
This paper is making an attempt to examine the long-run relationship between the key labor market parameters employment, aggregate output, real product wages and laboraugmenting technical progress for a sample of 21 OECD countries covering…
View article: Financial Development and Macroeconomic Volatility. Evidence from OECD Countries
Financial Development and Macroeconomic Volatility. Evidence from OECD Countries Open
This paper discusses the link between financial development and macroeconomic volatility by exploring some of the ways through which financial development may affect business cycle fluctuations. To be specific, we examine whether stock mar…