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Liquidity and international trade
Rodríguez López, Antonio - 2016
the international allocation of economic activity. Private assets’ liquidity properties - their usefulness as collateral … entry, production, aggregate productivity, and total market capitalization. In a closed economy, the liquidity market …, cross-country differences in financial development|as measured by the degree of liquidity of a country’s assets - generate …
Persistent link: https://www.econbiz.de/10011587546
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Analysis of monetary policy and financial stability : a new paradigm
Goodhart, Charles A. E.; Osorio, Carolina; Tsomocos, … - 2009
This paper introduces agent heterogeneity, liquidity, and endogenous default to a DSGE framework. Our model allows for … the economy. Due to liquidity and endogenous default, the transmission mechanism of shocks is well defined, and their …
Persistent link: https://www.econbiz.de/10003923247
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Optimum commodity taxation in pooling equilibria
Sheshinski, Eytan (contributor) - 2006
Persistent link: https://www.econbiz.de/10003379775
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Monetary policy in a channel system
Berentsen, Aleksander (contributor);  … - 2007
Persistent link: https://www.econbiz.de/10003496482
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Unemployment and debt dynamics in a highly indebted small open economy
Heer, Burkhard; Schubert, Stefan Franz - 2011
The paper analyzes the dynamic effects of a total factor productivity shock and an interest rate risk premium shock in a highly indebted open economy. In contrast to the standard open economy framework, search unemployment and wage bargaining are introduced. We find that a negative total factor...
Persistent link: https://www.econbiz.de/10009153857
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External sovereign debt in a monetary union : bailouts and the role of corruption
Achury, Carolina; Koulovatianos, Christos; Tsoukalas, … - 2011
We build a tractable stylized model of external sovereign debt and endogenous international interest rates. In corrupt economies with rent-seeking groups stealing public resources, a politico-economic equilibrium is characterized by permanent fiscal impatience which leads to excessive issuing of...
Persistent link: https://www.econbiz.de/10009240852
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On the tree-cutting problem under interest rate and forest value uncertainty
Alvarez, Luis H. R.; Koskela, Erkki - 2003
Persistent link: https://www.econbiz.de/10011505937
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Loan regulation and child labor in rural India
Dāśagupta, Bāsaba; Zimmermann, Christian - 2012
We study the impact of loan regulation in rural India on child labor with an overlapping-generations model of formal and informal lending, human capital accumulation, adverse selection, and differentiated risk types. Specifically, we build a model economy that replicates the current outcome with...
Persistent link: https://www.econbiz.de/10009682437
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Irreversible investment under interest rate variability : new results
Alvarez, Luis H. R.; Koskela, Erkki - 2002
The current extensive literature on irreversible investment decisions makes the assumption of constant interest rate. In this paper we study the impact of interest rate and revenue variability on the decision to carry out an irreversible investment project. Given the generality of the considered...
Persistent link: https://www.econbiz.de/10011408807
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The effect of monetary unification on public debt and its real return
Beetsma, Roel (contributor); Vermeylen, Koen (contributor) - 2005
We explore the implications of monetary unification for real interest rates and (relative) public debt levels. The adoption of a common monetary policy renders the risk-return characteristics of the participating countries more similar, so that the substitutability of their public debt increases...
Persistent link: https://www.econbiz.de/10002578027