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The optimal provision of loan guarantees or deposit insurance is examined in the context of an overlapping generations model. It is demonstrated that even in the face of a market imperfection that precludes diversification of the private sector’s loan portfolio to eliminate risk, full...
Persistent link: https://www.econbiz.de/10014395814
A firm theoretical basis for the empirical relationship between dependency rates and savings behavior in developing countries is still lacking. Two demographic extensions of the representative household’s stochastic dynamic optimization problem are presented here. It is shown that the...
Persistent link: https://www.econbiz.de/10014395881
This paper examines whether financial deregulation in the 1980s has reduced the importance of liquidity constraints in consumption patterns. Data for six industrialized countries are used to estimate a simple model incorporating liquidity constraints and forward looking behavior. It is concluded...
Persistent link: https://www.econbiz.de/10014396051
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This 2013 Article IV Consultation highlights that on the back of new policy framework, growth in Japan accelerated …
Persistent link: https://www.econbiz.de/10011244552
materialize, the Bank of Japan (BoJ) should act swiftly through further and/or longer- dated asset purchases. Communication should … coming years with uncertain net effects—higher exports and capital outflows—in the short term. As long as Japan continues …
Persistent link: https://www.econbiz.de/10011244783
This Selected Issues paper examines implications for long-term bond yields in case of Japan. The analysis finds that so …
Persistent link: https://www.econbiz.de/10011245208
Spain (Spain), amendments to the 2010 NPA with the Government of Japan (Japan), and a new note purchase agreement (NPA) with … the People's Bank of China (China). The new borrowing agreement with Spain, the amendments to the NPA with Japan, and the … February 22, 2017, for Spain; April 20, 2017, for Japan; and April 21, 2017, for China. Pursuant to Section III, paragraph 2 of …
Persistent link: https://www.econbiz.de/10014408739