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Moral hazard, peer monitoring, and microcredit: field experimental evidence from Paraguay

Carpenter, Jeffrey; Williams, Tyler - Federal Reserve Bank of Boston - 2010

Given the substantial amount of resources currently invested in microcredit programs, it is more important than ever to accurately assess the extent to which peer monitoring by borrowers faced with group liability contracts actually reduces moral hazard. We conduct a field experiment with women...

Persistent link: https://www.econbiz.de/10008465690

Core competencies and the structure of foreign direct investment

Díez, Federico J.; Spearot, Alan C. - Federal Reserve Bank of Boston - 2011

We develop a matching model of foreign direct investment to study how multinational firms choose between greenfield …

Persistent link: https://www.econbiz.de/10009366948

The poor performance of foreign bank subsidiaries: were the problems acquired or created?

Peek, Joe; Rosengren, Eric S.; Kasirye, Faith - Federal Reserve Bank of Boston - 1998

We examine foreign acquisitions of United States banks around the time of the ownership change to determine whether the … observed poor performance of foreign subsidiaries is the result of changes in business strategy or the preexisting …, changes in business strategy by the foreign owners were generally not successful in raising the banks's performance level to …

Persistent link: https://www.econbiz.de/10005501360

Core competencies, matching, and the structure of foreign direct investment: an update

Díez, Federico J.; Spearot, Alan C. - Federal Reserve Bank of Boston - 2012

We develop a matching model of foreign direct investment to study how multinational firms choose between greenfield …

Persistent link: https://www.econbiz.de/10011027187

The international transmission of financial shocks: the case of Japan

Peek, Joe; Rosengren, Eric S. - Federal Reserve Bank of Boston - 1996

One of the more dramatic financial events of the late 1980s and early 1990s was the surge in Japanese stock prices that was immediately followed by a very sharp decline of more than 50 percent. While the unprecedented fluctuations in Japanese stock prices were domestic financial shocks, the...

Persistent link: https://www.econbiz.de/10005379789

Estimating revenues from tax reform in transition economies

Kodrzycki, Yolanda K. - Federal Reserve Bank of Boston - 1994

Quantitative analysis is a key aspect of the design and evaluation of tax policy. To make informed decisions, policymakers should know how much revenue is collected and from whom. The tax reform planned for transition economies should include the introduction not only of new tax structures but...

Persistent link: https://www.econbiz.de/10005379807