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Financial regulation is often framed as a question of economic efficiency. This paper, by contrast, puts the …
Persistent link: https://www.econbiz.de/10010233893
This paper presents the theoretical structure of MAPMOD, a new IMF model designed to study vulnerabilities associated with excessive credit expansions, and to support macroprudential policy analysis. In MAPMOD, bank loans create purchasing power that facilitates adjustments in the real economy....
Persistent link: https://www.econbiz.de/10010790398
This paper, together with a technical companion paper, presents MAPMOD, a new IMF model designed to study vulnerabilities associated with excessive credit expansions, and to support macroprudential policy analysis. In MAPMOD, bank loans create purchasing power that facilitates adjustments in the...
Persistent link: https://www.econbiz.de/10010790408
We investigate the role of macroprudential policies in mitigating liquidity traps driven by deleveraging, using a simple Keynesian model. When constrained agents engage in deleveraging, the interest rate needs to fall to induce unconstrained agents to pick up the decline in aggregate demand....
Persistent link: https://www.econbiz.de/10010800974
efficiency, equity, and administrative and compliance costs. This paper analyzes tax expenditures in Italy, considering the …
Persistent link: https://www.econbiz.de/10011123882
This paper explores the impact of fiscal decentralization on the efficiency of public service delivery. It uses a … stochastic frontier method to estimate time-varying efficiency coefficients and analyzes the impact of fiscal decentralization on … those efficiency coefficients. The findings indicate that fiscal decentralization can improve the efficiency of public …
Persistent link: https://www.econbiz.de/10011242349
We compile the first large cross-country panel dataset of public sector performance and efficiency, encompassing 114 … lower efficiency in the respective sector. Moreover, we find that richer countries exhibit better public …
Persistent link: https://www.econbiz.de/10012677650
How could the GovTech improve budget processes and execution efficiency? Could the GovTech strengthen redistributive … by a dedicated GovTech institution emerges as a critical factor for reaping both efficiency and equity gains from GovTech …
Persistent link: https://www.econbiz.de/10015058980
calculate a score for operational expense efficiency based on a stochastic frontier analysis. In addition, we offer potential … explanations for the observed variations in efficiency levels across central banks. Our analysis reveals significant heterogeneity … across countries and income groups. Central banks with a single objective demonstrate higher efficiency compared with those …
Persistent link: https://www.econbiz.de/10015059073
With limited financing options, increasing investment efficiency will be a critical avenue to building infrastructure … costs and other pressures. Estimating investment efficiency, however, presents many methodological pitfalls. Using various … methods--stochastic frontier analysis, data envelopment analysis (DEA), and bootstrapped DEA-this paper estimates efficiency …
Persistent link: https://www.econbiz.de/10015059445