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The relationship between economic freedom and economic growth has always been frequently discussed in the economic literature. Economic freedom is often believed to enhance economic growth, which in turn creates more economic freedom. The first part of this paper studies the transition process...
Persistent link: https://www.econbiz.de/10009466950
Taking the Spanish market for deposits as a case study we show the importance of properly controlling for the quality of the services provided when assessing the degree of banking competition. While a simple approach based on estimating the price elasticity of the residual supply of deposit...
Persistent link: https://www.econbiz.de/10012530132
We develop a dynamic general equilibrium model with an imperfectly competitive bank-loans market and collateral constraints that tie investors credit capacity to the value of their real estate holdings. Banks set optimal lending rates taking into account the effects of their price policies on...
Persistent link: https://www.econbiz.de/10012530225
We analyze optimal monetary policy in a model with two distinct financial frictions. First, borrowing is subject to collateral constraints. Second, credit flows are intermediated by monopolistically competitive banks, thus giving rise to endogenous lending spreads. We show that, up to a second...
Persistent link: https://www.econbiz.de/10012530289
This paper examines the nature of competition in the Spanish banking industry during the years before and after Spain joined the European Monetary Union (EMU). The paper models competition in a product-differentiated market where banks choose from a list of price (interest rates of loans and...
Persistent link: https://www.econbiz.de/10012530291
This paper examines whether a country’s economic reforms are affected by reforms adopted by other countries. A simple model of economic reforms is developed to motivate the econometric work. Unsurprisingly, the model predicts that reforms are more likely when factors of production are...
Persistent link: https://www.econbiz.de/10009441826
estimation of leakage inprojects in developing Asia and Latin America. …
Persistent link: https://www.econbiz.de/10009435540
The two key threats to coal`s long term dominance in Asia are: (1) its uneven distribution of reserves and lack of … deterioration of the environment in Asia for another one to two decades. China will remain the largest polluter in Asia, but it …`s believed it will become Asia`s largest user of emissions control technology by 2015. The authors have subjectively weighed the …
Persistent link: https://www.econbiz.de/10009435575
This report starts where the previous quarterly publication ended. This first publication of a new annual series contains most of the same data as the quarterly report, plus some new material, through 1991. It also presents historical data covering a longer period of time than the previous...
Persistent link: https://www.econbiz.de/10009435856
An analysis of the impact of the political disruption in Iran on the world oil market is presented. During the first quarter of 1979, this disruption caused a loss of approximately 5 million barrels per day (MMBD) of oil production available for export from Iran to the rest of the world. This...
Persistent link: https://www.econbiz.de/10009435871