WP1461 | Title:Central Bank Collateral Framework, Bond Credit Spreads and Corporate Financing Costs | Author:Huang Zhen and Guo Ye | View Count:832 |
Abstract:This paper adopt the difference-in-differences model to analyze the influence of the central bank collateral frameworks on credit spread of bonds included in eligible collateral. Empirical results show that: first, the central bank collateral frameworks significantly promote the reduction of credit spreads of bonds included in eligible collateral, which reduce enterprise financing costs. Second, t |
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WP1456 | Title:The Effect of Social Security Fee-Reduction on the Employment of Service Sectors | Author:Yin Heng | View Count:752 |
Abstract:This paper puts forward a structural model in which parameters of demand function and production function can be estimated at the same time, and uses it to evaluate the effect of social security fee-reduction to employment, price, and social security revenue. Using 10 Chinese service sectors’ data from National Tax Survey Database during 2007-2011, we have a lot of interesting findings relates to |
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