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This paper uses loan-level data from 124 countries over 1995-2015 to examine the transmission of monetary policy through the cross-border syndicated loan market. The results show that the expansion of monetary policy increases cross-border credit supply especially to weaker firms. However,...
Persistent link: https://www.econbiz.de/10012246509
Most theoretical central bank models use short horizons and focus on a single tradeoff. However, in reality central banks play complex, long horizon games and face more than one tradeoff. We account for these issues in a simple infinite horizon game with a novel tradeoff: higher rates deter...
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World Bank Group President David Malpass spoke about the recession in advanced economies that is less severe than had … been feared, but in most developing economies, it has become a depression, especially for the poorest. The World Bank Group …) defers payments into the future but doesn't reduce them. The World Bank Group Board approved a package of up to twelve …
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World Bank Group President David Malpass said that while some countries are recovering, the pandemic is still taking a … vaccine purchases and delivery. He also mentioned that the World Bank is already at work in cooperation with WHO, UNICEF, the … World Bank's engagement with them. Under his Presidency, the World Bank Group has invested more in climate finance than at …
Persistent link: https://www.econbiz.de/10012647702
How many people should decide about monetary policy? In this paper, we take an empirical perspective on this issue, analyzing the relationship between the number of monetary policy decision-makers and monetary policy outcomes. Using a new data set that characterizes Monetary Policy Committees...
Persistent link: https://www.econbiz.de/10012753618
This paper analyzes empirically differences in the size of central bank boards across countries. Defining a board as the body that changes monetary instruments to achieve a specified target, we discuss the possible determinants of a board's size. The empirical relevance of these factors is...
Persistent link: https://www.econbiz.de/10012754018