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Is the USA's Current Account Sustainable?
Bubla, Florian - 2003
The extraordinary height of the U.S. current account deficits in the 90s gave rise to concern, a variety of papers and political recommendationsrevealing the very contrary opinions of economists on the subject.From this alarming evolution, the question of sustainability of such a...
Persistent link: https://www.econbiz.de/10009471805
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Credit And Growth Under Limited Commitment
Azariadis, Costas; Kaas, Leo - 2008
We consider a linear growth model with idiosyncratic productivity shocks in which producers cannot commit to repay their loans. Borrowing constraints are determined endogenously by the borrowers’ incentives to repay, assuming that defaulters lose a share of output and are excluded from future...
Persistent link: https://www.econbiz.de/10009471686
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Macroprudential FX Regulations: Sacrificing Small Firms for Stability?
Amado Garfias, María Alejandra
La regulación macroprudencial en moneda extranjera puede reducir el riesgo sistémico; sin embargo, se sabe poco acerca de sus consecuencias no deseadas. Propongo un mecanismo teórico en el que el descalce de monedas actúa como un medio para relajar las restricciones crediticias de las...
Persistent link: https://www.econbiz.de/10013414503
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Macroprudential FX Regulations: Sacrificing Small Firms for Stability?
Amado, María Alejandra
Summary of Banco de España Working Paper no. 2326
Persistent link: https://www.econbiz.de/10014572192
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Riding the wave: monetary responses to aid surges in low-income countries
Buffie, Edward; Adam, Christopher S.; O'Connell, Stephen; … - 2006
the government’s seigniorage requirement. Our results argue that a managed float, with little or no sterilization of …
Persistent link: https://www.econbiz.de/10009441501
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OPTIMAL INFLATIONARY AND RESERVE REQUIREMENT POLICIES: A STUDY OF AN ECONOMY WITH AN INFORMAL SECTOR
Ali, Hamid - 2011
requirements and also by relying on seigniorage to finance their deficits. In the context of those practices, this research …
Persistent link: https://www.econbiz.de/10009441674
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Testimony on Dollarization
Calvo, Guillermo A. - 2000
, dollarization is a win-win proposition exceptpossibly for some fiscal costs (called seigniorage in the technical jargon). In the …
Persistent link: https://www.econbiz.de/10009450720
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Corruption, fiscal policy, and growth: A unified approach
Ghosh, S; Neanidis, KC - 2011
In this paper, we study the effects of bureaucratic corruption on fiscal policy and the subsequent impact on economic growth. Here corruption takes three forms: (i) it reduces the tax revenue raised from households, (ii) it inflates the volume of government spending, and (iii) it reduces the...
Persistent link: https://www.econbiz.de/10009480843
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Corruption and Central Banks
Schinke, Michael - 2005
Central banks are viewed by the general public as reputable institutions, a perception bolstered by economic theory and … state needs higher seigniorage revenue to generate the necessary income to cover government expenditure. These two theories …, that is, that corruption leads to a higher rate of inflation and/or higher seigniorage, will be tested for a cross …
Persistent link: https://www.econbiz.de/10009484798
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INFLATION AS A DISGUISED MECHANISM FOR REAL WEALTH DISTRIBUTION
Chikobava, Malkhaz - 2019
The article analyzes the public spending of inflation and the reasons for its permanence. It is noted that inflation negatively affects the finances, monetary and the entire economic system. It reduces the purchasing ability of money, undermines the possibilities of economy regulation,...
Persistent link: https://www.econbiz.de/10011971426