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Inequality of Opportunity in the Credit Market
Coco, Giuseppe; Pignataro, Giuseppe - Dipartimento di Scienze Economiche, Facoltà di Economia - 2010
observable features, such as wealth and collateral, play an important role in determining who gets credit, in violation of the … marginal borrower in lower collateral classes. This suggests that public credit policies should be targeted at poorer classes …Credit market imperfections can prevent the poor from making profitable investments. Under asymmetric information …
Persistent link: https://www.econbiz.de/10008542326
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Some Propositions on Intergenerational Risk Sharing, Social Security and Self-Insurance
Aoki, Takaaki - Volkswirtschaftliche Fakultät, … - 2006
This article describes, within a myopic intergenerational bargaining framework incorporating two discrete periods and binary states of risks, some new aspects regarding the mixture of intergenerational risk sharing and social security. Here, state-dependent utility under mortality risk proves to...
Persistent link: https://www.econbiz.de/10005837210
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African Development,Partnership and Rationality Challenge:An Exposition
NWAOBI, GODWIN - Volkswirtschaftliche Fakultät, … - 2013
Since 1950s, most African nations have gained independence from their colonial powers. Fortunately, independence has brought many changes to these nations and these include multi-party democratic government and western education systems. Unfortunately, the Africa’s economy is the least...
Persistent link: https://www.econbiz.de/10011259767
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Constrained Egalitarianism in a Simple Resistributive Model.
Jaffray, J.Y.; Mongin, P. - Paris X - Nanterre, U.F.R. de Sc. Ec. Gest. Maths Infor. - 1998
We extend the theory of constrained egalitarianism initiated by Dutta and Ray (1989) with a view of making it more widely applicable to normative and public economics. The paper is concerned with redistributive systems in which what the individuals get depends on what they receive or pay qua...
Persistent link: https://www.econbiz.de/10005775615
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Crime, Corruption and Institutions
Chatterjee, Ishita; Ray, Ranjan - Department of Econometrics and Business Statistics, … - 2009
This paper explores the link between crime and corruption, compares their magnitudes, determinants and their effects on growth rates. The study uses a large cross country data set containing individual responses to questions on crime and corruption along with information on the respondents’...
Persistent link: https://www.econbiz.de/10005064172
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Indonesia: CPSS-IOSCO Recommendations for Securities Settlement Systems; The Equity and Corporate Bonds Securities Settlement Systems
International Monetary Fund (IMF); International … - 2012
This paper discusses findings of the joint IMF–World Bank Indonesia Financial Sector Assessment Program (FSAP) undertaken during 2009– 10. The assessment was conducted on processes and functions, as opposed to institutions and with the cooperation of the Bapepam-LK, the Bank...
Persistent link: https://www.econbiz.de/10011245525
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A Framework for Financial Market Development
Chami, Ralph; Sharma, Sunil; Fullenkamp, Connel - International Monetary Fund (IMF) - 2009
the two main compromises: the tradeoffs between maturity and collateral, and between seniority and control. The framework …
Persistent link: https://www.econbiz.de/10008528687
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Norway; Financial System Stability Assessment, including Reports on the Observance of Standards and Codes on the following topics: Banking Supervision, Insurance Regulation, and Pa...
International Monetary Fund (IMF); International … - 2005
This paper presents key findings of Norway’s Financial System Stability Assessment, including Reports on the Observance of Standards and Codes on Banking Supervision, Insurance Regulation, and Payment Systems. Norway’s financial system appears sound and well managed. Short-term...
Persistent link: https://www.econbiz.de/10005590982
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Making OTC Derivatives Safe; A Fresh Look
Singh, Manmohan - International Monetary Fund (IMF) - 2011
Recent regulatory efforts, especially in the U.S. and Europe, are aimed at reducing moral hazard so that the next financial crisis is not bailed out by tax payers. This paper looks at the possibility that central counterparties (CCPs) may be too-big-to-fail entities in the making. The present...
Persistent link: https://www.econbiz.de/10008876583
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United States; Staff Report for the 2011 Article IV Consultation
International Monetary Fund (IMF); International … - 2011
The U.S. economy continues to recover at a modest pace, in line with international experience following severe financial crises. The key priority for fiscal policy is to stabilize the debt ratio and gradually reduce it. The fiscal framework should include an endorsement of the main medium-term...
Persistent link: https://www.econbiz.de/10011242773