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Improving Access to Banking: Evidence from Kenya
Allen, Franklin; Carletti, Elena; Cull, Robert; Qian, Jun; … - C.E.P.R. Discussion Papers - 2014
Using household surveys and bank penetration data at the district-level in 2006 and 2009, this paper examines the impact of Equity Bank—a leading private commercial bank focusing on microfinance—on the access to banking in Kenya. Unlike other commercial banks in Kenya, Equity Bank pursues...
Persistent link: https://www.econbiz.de/10011084293
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Housing market regulation and the social demand for job protection
Decreuse, Bruno; van Ypersele, Tanguy - C.E.P.R. Discussion Papers - 2010
provide a model in which HMR increases foreclosure costs in case of mortgage default, while EPL raises the administrative cost … foreclosure. We use the model to discuss social housing and family insurance, the case for mortgage unemployment insurance …
Persistent link: https://www.econbiz.de/10008468671
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Credit Standards and Segregation
Ouazad, Amine; Rancière, Romain - C.E.P.R. Discussion Papers - 2011
How do credit standards on the mortgage market affect neighbourhood choice and the resulting level of urban segregation …-2006 mortgage credit boom on the level of school segregation. Census tract racial composition is strongly correlated with the racial … composition of the 10 closest schools in the cross section. Matching a national data set of mortgage originations with annual …
Persistent link: https://www.econbiz.de/10008873328
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The Limits to Fiscal Stimulus
Buiter, Willem H. - C.E.P.R. Discussion Papers - 2009
The paper considers the case for an internationally coordinated further fiscal stimulus during the second half of 2009. Although this makes some of the analysis period-specific, most of the issues and principles considered are timeless. For a fiscal stimulus to be both effective there must be...
Persistent link: https://www.econbiz.de/10008557012
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Money Illusion and Housing Frenzies
Brunnermeier, Markus K; Julliard, Christian - C.E.P.R. Discussion Papers - 2007
, investors who decide whether to rent or buy a house by simply comparing monthly rent and mortgage payments do not take into … account that inflation lowers future real mortgage costs. We decompose the price-rent ratio in a rational component — meant to …
Persistent link: https://www.econbiz.de/10005067397
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Fiscal Multipliers in Recessions
Canzoneri, Matthew B; Collard, Fabrice; Dellas, Harris; … - C.E.P.R. Discussion Papers - 2015
The Great Recession, and the fiscal response to it, has revived interest in the size of fiscal multipliers. Standard business cycle models have difficulties generating multipliers greater than one. And they also cannot produce any significant state-dependence in the size of the multipliers over...
Persistent link: https://www.econbiz.de/10011145463
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Bank and Sovereign Risk Interdependence in the Euro Area
Kollintzas, Tryphon; Tsoukalas, Konstantinos - C.E.P.R. Discussion Papers - 2015
We develop a dynamic stochastic general equilibrium model to study bank risk and sovereign risk interdependence in the Euro Area. We find that an increase in capital investment risk shock, results in a considerably deeper recession when sovereign risk is also present. This result has three...
Persistent link: https://www.econbiz.de/10011201352
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Alleged Tax Competition: The Mysterious Death of Bequest Taxes in Switzerland
Brülhart, Marius; Parchet, Raphaël - C.E.P.R. Discussion Papers - 2011
Interjurisdictional competition over mobile tax bases is an easily understood mechanism, but actual tax-base elasticities are difficult to estimate. Political pressure for reducing tax rates could therefore be based on erroneous estimates of the mobility of tax bases. We show that tax...
Persistent link: https://www.econbiz.de/10009371481
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State Capacity and Military Conflict
Gennaioli, Nicola; Voth, Hans-Joachim - C.E.P.R. Discussion Papers - 2011
In 1500, Europe was composed of hundreds of statelets and principalities, with weak central authority, no monopoly over the legitimate use of violence, and multiple, overlapping levels of jurisdiction. By 1800, Europe had consolidated into a handful of powerful, centralized nation states. We...
Persistent link: https://www.econbiz.de/10009385769
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Impure Prosocial Motivation in Charity Provision: Warm-Glow Charities and Implications for Public Funding
Scharf, Kimberley - C.E.P.R. Discussion Papers - 2013
We show that warm-glow motives in provision by competing suppliers can lead to inefficient charity selection. In these situations, discretionary donor choices can promote efficient charity selection even when provision outcomes are non-verifiable. Government funding arrangements, on the other...
Persistent link: https://www.econbiz.de/10011084073