IMAEF is a forum for the exchange and fertilisation of ideas, knowledge and scientific achievements in economics and finance. During the conference, academics, researchers and practitioners will present novel developments in applied economics and finance and will discuss on currently debated...

Upon assuming control of Baoshang Bank, Chinese bank regulators announced that they would eschew bailing out large creditors of this city-level distressed bank in full. This paper investigates the consequences of this unexpected deviation from the long-standing full bailout policy. Employing a...

A workhorse two-country portfolio model that embeds net foreign asset (NFA) imbalances rationalizes the following observation: debtor countries have on average a less diversified international portfolio than creditor countries. Abstracting from NFA imbalances, the model would feature a...

We examine the effect of regional favoritism on firms’ access to credit. Using firm-level data on a large sample of 29,000 firms covering 48 countries, we investigate the hypothesis that access to credit of firms is higher in the birth regions of national political leaders. We find evidence...

We evaluate the impact of loan-to-value restrictions on household financial vulnerability. Using Norwegian tax data, we first document a beneficial leverage effect, in which households respond to the regulation by reducing house purchase probabilities, debt and interest expenses. Second, we...

RIDGE invites authors to submit papers to the Workshop. The idea is to create a forum of junior and senior scholars discussing cutting-edge research in economic growth, trade, and economic history dealing with economic development disparities across and within countries. This workshop aims to...

We introduce shocks to the availability of US dollar funding for non-US financial intermediaries in a two-country New Keynesian model with financial frictions. Such dollar shortages lead to uncovered interest rate parity deviations and have a significant negative effects on the macroeconomy....

The Workshop on Growth and Development in Macroeconomics /International Trade will take place within the framework of the 2022 RIDGE December Forum.

Topics include but are not limited to: 1) Dos and don’ts of inflation targeting ; 2) Optimal inflation target and the natural rate of interest in economies with limited transmission ; 3) Constraints of fiscal dominance and optimal balance between fiscal and monetary policy ; 4) Policy with...