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We consider a moral hazard economy in banks and production to study how incentives for risk taking are affected by the quality of supervision. We show that low interest rates may generate excessive risk taking. Because of a pecuniary externality, the market equilibrium may not be optimal and...
Persistent link: https://www.econbiz.de/10010790384
Persistent link: https://www.econbiz.de/10002294410
in default. During his tenure, U.S. Treasuries became the ultimate safe asset. He successfully managed expectations …
Persistent link: https://www.econbiz.de/10010959479
Côte d’Ivoire's government decided on the National Development Plan to give a new impetus to its development policy. This new strategy is based on an ambitious and realistic recovery and development program centered on private and public investment. The institutional monitoring framework for...
Persistent link: https://www.econbiz.de/10011244156
Mali’s territorial integrity is threatened, questioning its internal capacity to face challenges and especially to ensure the physical safety of goods and individuals. The government is committed to implement all measures to overcome this situation. More specifically, it will increase...
Persistent link: https://www.econbiz.de/10011244637
The paper focuses on the workings of the Medium-Term Development Program (MTDP) of the Kyrgyz Republic. Raising living standards as well as taking measures for reducing poverty have been cited as the main priority areas of the strategy, and the measures to be undertaken to bring about...
Persistent link: https://www.econbiz.de/10011244782
This Selected Issues paper explores the question of what kind of structural policies could boost productivity growth in small middle-income countries (SMICs), including Namibia. The findings suggest that although macroeconomic stability and trade openness are necessary for productivity growth,...
Persistent link: https://www.econbiz.de/10011244906
Staff Report for the 2012 Article IV consultation, prepared by a staff team of the IMF, following discussions that ended on July 23, 2012, with the officials of Sudan on economic developments and policies. Based on information available at the time of these discussions, the staff report was...
Persistent link: https://www.econbiz.de/10011245092
This 2014 Article IV Consultation highlights that the Russian Federation’s growth slowdown that began in 2011, reflecting structural constraints, continued in 2013 despite accommodative policies. Real GDP growth slowed to 1.3 percent owing to a contraction in investment while consumption...
Persistent link: https://www.econbiz.de/10011245094