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We analyze the effects of monetary policy on economic activity in the proposed African monetary unions. Findings broadly show that: (1) but for financial efficiency in the EAMZ, monetary policy variables affect output neither in the short-run nor in the long-term and; (2) with the exception of...
Persistent link: https://www.econbiz.de/10011079275
In this paper the authors focus on credit connections as a potential source of systemic risk. In particular, they seek ….e. those able extend the initial shock to the entire system. -- credit networks ; communities ; contagion ; systemic risk … to answer the following question: how do we find densely connected subsets of nodes within a credit network? The question …
Persistent link: https://www.econbiz.de/10009731380
The complexity of credit-money is conceived as the central issue in the banking-macro nexus, which the authors consider … consumption. The evolution of credit rules shapes economic networks between households, firms, banks, governments and central …, such as dynamic stochastic general equilibrium agent-based models. In the third part they suggest an evolutionary framework …
Persistent link: https://www.econbiz.de/10010199689
We identify the origin of the contradicting perspectives on credit creation offered by Austrian, Mainstream and Post …-exist any transaction and loan. We develop a unified framework of credit creation based on three leading variables: (i) the … amount of collateral assets accepted, (ii) the level of leverage and (iii) the level of trust and confidence. As credit …
Persistent link: https://www.econbiz.de/10010337985
We outline the core claims of Basil Moore's book Horizontalists and Verticalists: The Macroeconomics of Credit Money …
Persistent link: https://www.econbiz.de/10010854922
from credit market disruption; 4) the commercial banking system received assistance via a recapitalization program, while …
Persistent link: https://www.econbiz.de/10010869436
evidence of a “small farm bias” in the use of informal credit, but the paper cannot generalize this to credit rationing as a … matter of course. In part, it is believed that a preference for informal borrowing is related to some forms of credit … factors other than credit rationing which affect a households' decision to borrow informally. Research limitations …
Persistent link: https://www.econbiz.de/10008464915
If some consumers are liquidity-constrained, aggregate consumption should be ‘excessively sensitive’ to credit … United Kingdom and the United States, we find a substantial impact of credit aggregates on consumption in all countries …
Persistent link: https://www.econbiz.de/10005666583
whether lenders' size, loans' size and risk and geographical factors affecting the «textbook » link between policy rate and …, specifically acquired frcim the Bank of Italy, which contains the data on interest rates, had debts and credit flows granted by … for risk. Furthermore, the behaviour of the largest size class of bank loans shows a pattern consistent with a demand …
Persistent link: https://www.econbiz.de/10010786792
This paper proposes a dynamic model of the optimal choices of a bank that benefits from market power and takes into account the impact of the deposit generation process. Interbank lending/borrowing emerges as a buffer that assists the bank in smoothing intertemporal adjustments in interdependent...
Persistent link: https://www.econbiz.de/10010682593