Showing 1 - 10 of 95
The paper reviews the policy response of major central banks during the 2007–08 financial market turbulence and suggests that there is scope for convergence among central bank operational frameworks through the adoption of those elements that proved most instrumental in calming markets. These...
Persistent link: https://www.econbiz.de/10005825614
credit outstanding is a temporary or a permanent phenomenon. The two approaches-the time series behavior of credit … decline sharply. Specifically, credit outstanding is projected to decline from an average of SDR 50 billion over 2000?05 to …
Persistent link: https://www.econbiz.de/10005825617
We use daily data on bank reserves and overnight interest rates to document a striking pattern in the high-frequency behavior of the U.S. market for federal funds: depository institutions tend to hold more reserves during the last few days of each “reserve maintenance period,” when the...
Persistent link: https://www.econbiz.de/10005825728
liberalization, by equalizing access to credit, reduces the variation in expected marginal returns. They test this prediction using a …
Persistent link: https://www.econbiz.de/10005825813
Using a simple model of two-sided markets, we show that, in the social optimum, platform pricing leads to an inherent cost recovery problem. This result is driven by the positive externality of participation that users on either side of the market exert on the opposite side. The contribution of...
Persistent link: https://www.econbiz.de/10005825848
This paper investigates if there are circumstances where time-varying tax rates could improve welfare and whether such policy can effectively be implemented in practice. While, in principle, variable taxes could improve welfare in some cases, the paper highlights the very particular...
Persistent link: https://www.econbiz.de/10005825866
This paper examines the pattern of excess liquidity in sub-Saharan Africa and its consequences for the effectiveness of monetary policy. The paper argues that understanding the consequences of excess liquidity requires quantifying the extent to which commercial bank holdings of excess liquidity...
Persistent link: https://www.econbiz.de/10005826003
The rapid mortgage credit growth experienced in recent years in mature and emerging countries has raised some stability … concerns. Many European credit institutions in mature markets have reacted by increasing securitization, particularly via … movements in covered bond prices can be used to analyze the credit developments of the underlying issuer and the quality of its …
Persistent link: https://www.econbiz.de/10005826294
This study examines the recent marked slowdown in bank credit to the private sector in Latin America. Based on the …, changes in bank balance sheets are examined to determine whether the credit slowdown is merely a reflection of a slowdown in … recent studies of credit slowdowns in East Asia and Finland, the paper investigates possible causes for the slowdown in three …
Persistent link: https://www.econbiz.de/10005826373
This paper develops and estimates a model of the trade balance of Bosnia and Herzegovina. Credit flows and the fiscal …
Persistent link: https://www.econbiz.de/10005826416