Showing 1 - 10 of 2,099
, financial sector depth, country risk, a measure of cost of insurance, and the World Bank governance indexes. We find that …
Persistent link: https://www.econbiz.de/10014402994
Increasing emphasis has been placed on the need for an effective lender of last resort for sovereign states and on procedures for sovereign debt restructuring to help cope with global financial crises. Where private creditors use short-term debt to check sovereign debtor’s moral hazard, there...
Persistent link: https://www.econbiz.de/10014399920
The financial system in Uruguay underwent a serious crisis beginning in 1982, which resulted in the failure of many banks and to a major restructuring of the financial system. This paper examines the causes and consequences of this crisis, exploring the relationship between developments in the...
Persistent link: https://www.econbiz.de/10014397344
minimum electricity consumption is around 14.6 degree C for the world and it is higher in urban and more industrial areas; and …
Persistent link: https://www.econbiz.de/10012517931
This paper addresses the complex and overlooked relationship between the receipt of workers'' remittances and institutional quality in the recipient country. Using a simple model, we show how an increase in remittance inflows can lead to deterioration of institutional quality - specifically, to...
Persistent link: https://www.econbiz.de/10014401823
The recent financial crisis has highlighted once more that interconnectedness in the financial system is a major source of systemic risk. I suggest a practical way to levy regulatory capital charges based on the degree of interconnectedness among financial institutions. Namely, the charges are...
Persistent link: https://www.econbiz.de/10014402877
Changes in economic systems provide a rare opportunity to redesign basic institutional structures in labor markets. This paper attempts to provide guidance for such institutional choice by drawing on the findings of recent labor market research in market economies on the links between...
Persistent link: https://www.econbiz.de/10014397450
This paper studies the macroeconomic effects and sequencing of (LMRs) and product (PMRs) market reforms in Morocco. It finds that introducing LMRs and PMRs simultaneously would add about 2.5 percentage points (pp) of GDP growth and reduce unemployment by about 2.2 pp after five years. If...
Persistent link: https://www.econbiz.de/10012122485
This study explores the effects of labor and product market deregulation on employment growth. Our empirical results … framework for evaluating deregulation strategies in the presence of reform costs. Optimal deregulation takes various forms … depending on the deregulation costs, the strength of reform interactions, and the perspective of the policymaker. Unless …
Persistent link: https://www.econbiz.de/10014401625
This paper deals with liberalization and the evolution of output during the transition from plan to market. It explains why strong liberalization leads to a comparatively steep fall in output early in the transition, but a relatively strong recovery later on. Because it takes time to restructure...
Persistent link: https://www.econbiz.de/10014403341