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"The aim of this paper is to understand the mechanism underlying access to credit. Gine focuses on two important … aspects of rural credit markets in Thailand. First, moneylenders and other informal lenders coexist with formal lending … presumably face sizable transaction costs obtaining external credit. The author develops and estimates a model based on limited …
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"According to the conventional wisdom, when an economy enters a recession and nominal prices adjust slowly, the monetary authority should devalue the domestic currency to make the recession less severe. The reason is that a devaluation of the currency lowers the relative price of non-tradable...
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