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Net worth, exchange rates, and monetary policy : the effects of a devaluation in a financially fragile environment

Delli Gatti, Domenico; Gallegati, Mauro; Greenwald, … - 2007

In this paper we propose an Open Economy Financial Accelerator model along the lines of Greenwald-Stiglitz (1993) close in spirit but different in many respects from the one proposed by Greenwald (1998.) The first goal of the paper is to provide a taxonomy of the effects of a devaluation in this...

Persistent link: https://www.econbiz.de/10003495976

Group Lending, Joint Liability, and Social Capital : Insights from the Indian Microfinance Crisis

Haldar, Antara - 2017

This article grapples with the causes of India's microfinance crisis. By contrasting Bangladesh's highly successful … Grameen model with the allegedly “universalizable” version of India's SKS Microfinance (which precipitated the crisis), trust … or social capital is isolated — not just narrowly interpreted within standard economic theory, but more broadly construed …

Persistent link: https://www.econbiz.de/10012964743

Technological progress, artificial intelligence, and inclusive growth

Korinek, Anton; Schindler, Martin; Stiglitz, Joseph E. - 2021

Advances in artificial intelligence and automation have the potential to be labor-saving and to increase inequality and poverty around the globe. They also give rise to winner-takes-all dynamics that advantage highly skilled individuals and countries that are at the forefront of technological...