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Is There a Credit Crunch in the Czech Republic?
Kapounek, Svatopluk; Reznakova, Lucie - Provozně ekonomická fakulta, Mendelova Univerzita v Brnĕ - 2014
We apply a disequilibrium model of credit demand and supply to test the credit crunch hy- pothesis. We suppose that … firms face credit rationing and a realised outstanding loan will be the minimum desired level of commercial bank loans and … bank limit for the firm. We adopted the disequilibrium model which consists of credit supply and credit demand equations …
Persistent link: https://www.econbiz.de/10010938200
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Rwanda; Third Review Under the Policy Support Instrument: Staff Report; Staff Supplement; Press Release on the Executive Board Discussion; and Statement by the Executive Director f...
International Monetary Fund (IMF); International … - 2012
This paper presents key findings of the Third Review under the Policy Support Instrument (PSI) in Rwanda. Program performance was broadly satisfactory. All end-June quantitative assessment criteria were met. Structural benchmarks were partially met as the pace of implementation of structural...
Persistent link: https://www.econbiz.de/10011244254
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Communal Responsibility and the Coexistence of Money and Credit under Anonymous Matching
Boerner, Lars; Ritschl, Albrecht - European Historical Economics Society - EHES - 2011
Communal responsibility, a medieval institution studied by Greif (2006), supported the use of credit among European …. Enforceability within each village's centralized afternoon market ensures collateralization of credit in decentralized markets. In … the resulting equilibrium, money and credit coexist in decentralized markets if the use of credit is costly. Our analysis …
Persistent link: https://www.econbiz.de/10009415631
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Communal Responsibility and the Coexistence of Money and Credit Under Anonymous Matching
Boerner, Lars; Ritschl, Albrecht - Centre for Economic Performance, LSE - 2010
Communal responsibility, a medieval institution studied by Greif (2006), supported the use of credit among European …. Enforceability within each village's centralized afternoon market ensures collateralization of credit in decentralized markets. In … the resulting equilibrium, money and credit coexist in decentralized markets if the use of credit is costly. Our analysis …
Persistent link: https://www.econbiz.de/10009643552
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Excess Liquidity and the Effectiveness of Monetary Policy; Evidence From Sub-Saharan Africa
Saxegaard, Magnus - International Monetary Fund (IMF) - 2006
This paper examines the pattern of excess liquidity in sub-Saharan Africa and its consequences for the effectiveness of monetary policy. The paper argues that understanding the consequences of excess liquidity requires quantifying the extent to which commercial bank holdings of excess liquidity...
Persistent link: https://www.econbiz.de/10005826003
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The Payments Systems Reforms and Monetary Policy in Emerging Market Economies in Central and Eastern Europe
International Monetary Fund (IMF); International … - 1994
The paper discusses the interrelationships between payments system reform and monetary policy implementation in selected countries in Central and Eastern Europe. The reforms in the payments system are viewed as closely interrelated with the development of money and foreign exchange markets and...
Persistent link: https://www.econbiz.de/10005826638
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Inflation in Tajikistan; Forecasting Analysis and Monetary Policy Challenges
Vtyurina, Svetlana; Alturki, Fahad - International Monetary Fund (IMF) - 2010
This paper attempts to explain short- and long-term dynamics of-and forecast-inflation in Tajikistan using the Vector Error Correction Model (VECM) and Autoregressive Moving Average Model (ARMA). By analyzing different transmission channels through the VECM, we were able to evaluate their...
Persistent link: https://www.econbiz.de/10008519491
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Making Financial Markets: Contract Enforcement and the Emergence of Tradable Assets in Late Medieval Europe
Boerner, Lars; Ritschl, Albrecht - Society for Economic Dynamics - SED - 2006
debts in-curred by any merchant from their hometown. We argue that communal responsibility was effective in enforcing credit …-state Markov chain. We derive conditions under which cash and credit in the anonymous matching market coexist. For fixed but suffi …-ciently low cost of credit, agents will pay with cash in low-quality matches, and use cash and credit in high-quality matches. The …
Persistent link: https://www.econbiz.de/10005069311
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Communal Responsibility and the Coexistence of Money and Credit Under Anonymous Matching
Boerner, Lars; Ritschl, Albrecht - Sonderforschungsbereich 649: Ökonomisches Risiko, … - 2010
Communal responsibility, a medieval institution studied by Greif (2006), supported the use of credit among European …. Enforceability within each village's centralized afternoon market ensures collateralization of credit in decentralized markets. In … the resulting equilibrium, money and credit coexist in decentralized markets if the use of credit is costly. Our analysis …
Persistent link: https://www.econbiz.de/10008765724
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The Payments System and its Effectson Monetary Operations; Recent Experience in the Russian Federation
International Monetary Fund (IMF); International … - 1994
Recent developments and reforms in the Russian payments system are discussed from the perspective of their impact on monetary policy. The large and highly variable payment float in the balance sheet of the Central Bank of Russia has complicated the conduct of monetary policy. However, reforms in...
Persistent link: https://www.econbiz.de/10008671310