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This paper theoretically evaluates the dynamic effects of a shift in an exchange rate system from a fixed regime to a basket peg, or to a floating regime, and obtains transition paths for the shift based on a dynamic stochastic general equilibrium model of a small open economy. We apply...
Persistent link: https://www.econbiz.de/10010488975
Driven by the increasingly important role of supply chains in global production, this paper studies empirical association between global credit-market shocks and firm behavior towards liquidity needs across countries and industries. Focusing on the adjustment of working-capital financing, we...
Persistent link: https://www.econbiz.de/10010198205
finance since the global financial crisis, including sources of credit, lender types, and collateral types. First, SMEs … typically resort to internal sources rather than external finance (including borrowing from banks) and trade credit. Second …, when it comes to external finance, SMEs typically use informal non-bank credit sources more than banks. Third, there is a …
Persistent link: https://www.econbiz.de/10010462574