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Household debt and crises of confidence
Hintermaier, Thomas; Koeniger, Winfried - 2015
a collateral constraint. Over a specific range of debt levels this liquidity feedback effect is strong enough to give …
Persistent link: https://www.econbiz.de/10011347156
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Optimal price indices for targeting inflation under incomplete markets
Anand, Rahul; Prasad, Eswar S. - 2010
In models with complete markets, targeting core inflation enables monetary policy to maximize welfare by replicating the flexible price equilibrium. In this paper, we develop a twosector two-good closed economy new Keynesian model to study the optimal choice of price index in markets with...
Persistent link: https://www.econbiz.de/10008810538
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Credit constraints and productive entrepreneurship in Africa
Baliamoune-Lutz, Mina; Brixiova, Zuzana; Ndikumana, Léonce - 2011
that can be used as collateral. This paper presents a model where firm creation and growth hinge on matching potential … entrepreneurs with productive technologies, while firm growth depends on acquired capital. The shortage of collateral creates a ….g., the depth of credit information and the strength of legal rights pertaining to collateral and bankruptcy) would stimulate …
Persistent link: https://www.econbiz.de/10009523518
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Heterogeneous effects of credit constraints on SMEs' employment : evidence from the Great Recession
Cornille, David; Rycx, François; Tojerow, Ilan - 2018
This paper takes advantage of access to detailed matched bank-firm data to investigate whether and how employment decisions of SMEs have been affected by credit constraints in the wake of the Great Recession. Variability in banks' financial health following the 2008 crisis is used as an...
Persistent link: https://www.econbiz.de/10011785728
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Effectives of monetary policy under the high and low economic uncertainty states: evidence from the major Asian economies
Balcilar, Mehmet; Ozdemir, Zeynel Abidin; Ozdemir, Huseyin - 2021
provide partial supporting evidence for the economic theory, which asserts that monetary policy efficiency must fall during …
Persistent link: https://www.econbiz.de/10012549189
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A reevaluation of the role of family in immigrants' labor market activity : evidence from a comparison of single and married immigrants
Cohen-Goldner, Sarit; Gotlibovski, Chemi; Kahana, Nava - 2009
Previous papers tested the validity of the Family Investment Hypothesis (FIH) among immigrants by comparing the labor market outcomes of immigrant couples and native or mixed couples. Here we propose an alternative test for the FIH which is based on a comparison between married and single...
Persistent link: https://www.econbiz.de/10003847131
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The role of marriage in immigrants' human capital investment under liquidity constraints
Cohen-Goldner, Sarit (contributor);  … - 2006
This paper presents a two-period human capital investment model of married and single immigrants under binding liquidity constraints, which explains alternative patterns in the host country's labor market. These patterns are also compared to those of natives who face a perfect capital market. By...
Persistent link: https://www.econbiz.de/10003469464
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Financial constraints and innovation : why poor countries don’t catch up
Gorodnichenko, Yuriy; Schnitzer, Monika - 2010
This paper examines micro-level channels of how financial development can affect macroeconomic outcomes like the level of income and export intensity. We investigate theoretically and empirically how financial constraints affect a firm's innovation and export activities, using unique firm survey...
Persistent link: https://www.econbiz.de/10003941706
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Monitoring costs, credit constraints and entrepreneurship
Banerji, Sanjay; Raj, Rajesh S. N.; Sen, Kunal - 2012
The vast majority of firms in developing economies are micro and small enterprises owned by families whose members also provide the labour to the units. Often, they fail to grow in size even with the relaxation of credit constraints. In this paper, we show that frictions in the labour market...
Persistent link: https://www.econbiz.de/10009548201
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Should easier access to international credit replace foreign aid?
Bandyopadhyay, Subhayu; Lahiri, Sajal; Younas, Javed - 2011
We examine the interaction between foreign aid and binding borrowing constraint for a recipient country. We also analyze how these two instruments affect economic growth via non-linear relationships. First of all, we develop a two-country, two-period trade-theoretic model to develop testable...
Persistent link: https://www.econbiz.de/10009488418