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This paper presents a model for Inflation Targeting under imperfect policy credibility. It modifies the conventional … model in three ways: an endogenous policy credibility process, by which monetary policy can gain or lose credibility over … time; non-linearities in the inflation equation and in the credibility generating process; and an explicit loss function …
Persistent link: https://www.econbiz.de/10012677693
Persistent link: https://www.econbiz.de/10012691119
This paper summarizes the results of a survey of financial supervisory agencies in IMF member countries conducted in 2007. Responses were received from 140 financial sector supervisors in 103 countries. A majority of these are separate stand-alone agencies, though, a majority of bank supervisors...
Persistent link: https://www.econbiz.de/10012677805
United Kingdom, the euro area, and Japan during the recent crisis on interbank credit and liquidity risk premia … of interbank risk premia, albeit to a different degree during the subprime and global phases of the crisis. Decisions not …
Persistent link: https://www.econbiz.de/10012677874
While public financial institutions (such as public development banks) are commonly associated with developing countries, in fact they are prevalent in the developed world as well. We study a sample of public financial institutions in industrialized countries and identify dominant trends in...
Persistent link: https://www.econbiz.de/10005826304
leverage and low profitability. Moreover, the global financial crisis has weakened the financial position across SMEs …
Persistent link: https://www.econbiz.de/10010790387
Persistent link: https://www.econbiz.de/10012678161
Only a minority of countries have succeeded in establishing a developed financial system, despite widespread financial liberalization. Confronted with this finding, the political institutions view claims that sustained financial deepening is most likely to take place in institutional...
Persistent link: https://www.econbiz.de/10008671297
The global financial crisis affected microfinance institutions (MFIs) as lending growth was constrained by scarcer … systemic risk of MFIs, and finds that contrary to the evidence before the crisis, MFI performance is correlated not only to …
Persistent link: https://www.econbiz.de/10009203545
Islamic and cooperative banks such as credit unions are broadly similar in that they both share some risk with savers. However, risk sharing goes along with ownership control in cooperatives, whilst Islamic banks share risk with borrowers and downside risk with depositors. Islamic banking is...
Persistent link: https://www.econbiz.de/10011242373