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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
Upon entry into the European Union, countries become members of the Economic and Monetary Union (EMU), with a derogation from adopting the euro as their currency (that is, each country joining the EU commits to replace its national currency with the euro, but can choose when to request...
Persistent link: https://www.econbiz.de/10005767345
As an European Union (EU) Member State, Romania is subject and aligned to the EU common regulatory framework for … stronger prudential regulation. Given that a large part of Romania's banking system is owned by Eurozone banks, the Single … Supervisory Mechanism (SSM), as the home supervisor for Eurozone banks, is a key partner of the National Bank of Romania (NBR …
Persistent link: https://www.econbiz.de/10012645492
This paper presents Romania’s First Review Under the Stand-By Arrangement and a Request for Waiver and Modification of …
Persistent link: https://www.econbiz.de/10014406000
Romania’s external position continues to improve. Inflation peaked in December 2010, and is now likely to decline …
Persistent link: https://www.econbiz.de/10014401175
This report assesses the Observance of Standards and Codes on Fiscal Transparency for Romania. Romania has made …
Persistent link: https://www.econbiz.de/10014406345
This Selected Issues paper analyzes the developments and determinants of inflation in Romania, and reviews the salient … economic and financial implications, and assesses Romania's compliance with EU economic criteria. The paper also provides a …
Persistent link: https://www.econbiz.de/10014406372
This paper discusses Romania’s fourth review under the Stand-By Arrangement and request for modification of performance …
Persistent link: https://www.econbiz.de/10014396787