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This paper analyses the welfare effects of microfinance and inflation in developing countries. Therefore, we introduce a moral hazard problem into a monetary search model with money and credit. We show how access to basic financial services affects households' decisions to borrow, to save and to...
Persistent link: https://www.econbiz.de/10011390685
This paper analyses the welfare effects of microfinance and inflation in developing countries. Therefore, we introduce a moral hazard problem into a monetary search model with money and credit. We show how access to basic financial services affects households' decisions to borrow, to save and to...
Persistent link: https://www.econbiz.de/10009772193
Households' and firms' subjective inflation expectations play a central role in macroeconomic and intertemporal microeconomic models. We discuss how subjective inflation expectations are measured, the patterns they display, their determinants, and how they shape households' and firms' economic...
Persistent link: https://www.econbiz.de/10013271201
We analyze the impact of financial crises and monetary policy on the supply of wholesale funding liquidity, and also on the compositional supply effects through cross-border and relationship lending. For empirical identification, we draw on the proprietary bank-to-bank European interbank dataset...
Persistent link: https://www.econbiz.de/10010471858
finds that higher savings by more frugal households provide an important cushion for the fall in private investment funding. …
Persistent link: https://www.econbiz.de/10009422184
Since the 1970s, income risk faced by households has increased and monetary policy transmission has become weaker. I … investigate the role of income risk in weakening monetary policy transmission. I first show analytically that increased income … risk weakens the substitution effect of interest rate changes but amplifies the income effect from wage changes. The first …
Persistent link: https://www.econbiz.de/10012852798
This paper studies the effects of quantitative easing on income and wealth of individual euro area households. The … which key variables affecting household income and wealth are included, such as the unemployment rate, wages, interest rates …-form simulation on micro data from the Household Finance and Consumption Survey, capturing the income composition, the portfolio …
Persistent link: https://www.econbiz.de/10011921470
perceived savings constraints of macroprudential policy measures introduced by the Central Bank of Ireland in early 2015. These … for those seeking to engage in homeownership. Using a unique, nationally representative survey of households' savings … their savings decisions. Credit constraints and consumer inattention are proposed as explanatory channels for this …
Persistent link: https://www.econbiz.de/10011986656
of lending rates,inflationary rates, and promoting income growth to ensure increase in national savings for economic …Domestic savings is a vital source of investment funds, especially for developing economies. It is thus essentialthat … internal savings capacity in these economies is increased to enhance investment financing and economicgrowth. Since increased …
Persistent link: https://www.econbiz.de/10013306199
On 5-6 September 2012 SUERF held its 30th Colloquium “States, Banks, and the Financing of the Economy” at the University of Zürich, Switzerland. The papers included in this SUERF Study are based on contributions to the Colloquium. All the papers in this publication discuss from different...
Persistent link: https://www.econbiz.de/10011689959