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In the course of their growth and their more recent crisis, cryptocurrencies suffered from tremendous volatility. Volatility impaired cryptocurrencies' ability to serve the needs generally associated with currencies, i.e. serve as a store of value as well as a medium of exchange and a unit of...
Persistent link: https://www.econbiz.de/10012870861
Private entities have recently attempted to invade the realm of central banking activities. This Article identifies this activity as “Shadow Central Banking,” and draws analogies with the previous emergence of “shadow banking” more generally. The “shadow banking” system emerged as a...
Persistent link: https://www.econbiz.de/10012859315
productivity through diversification, upgrading technology and innovation, and increasing employment and entrepreneurship. Thailand … innovation and digitalisation, improving the SME policy framework and expanding regional integration, as emphasised in the …
Persistent link: https://www.econbiz.de/10011914179
capitalistic economy. These cycles, inherent to the rise of innovation, are an unavoidable consequence of the way in which markets … played by finance in fostering innovation, in defining bank credit as the “monetary complement” of innovation. Nevertheless …, we feel that the connection between innovation and firm financing has seldom been examined from a theoretical standpoint …
Persistent link: https://www.econbiz.de/10013098660
A major benefit of health insurance coverage is that it protects the insured from unexpected medical costs that may devastate their personal finances. In this paper, we use detailed credit report information on a large panel of individuals to examine the effect of a major health care reform in...
Persistent link: https://www.econbiz.de/10013034263
Persistent link: https://www.econbiz.de/10013114444
Monetary and fiscal policies face huge challenges: the banking sector has collapsed; the economy is in the midst of a deep recession; the exchange rate has plunged; capital flows have been frozen; inflation is elevated; public debt has risen; source of revenues have disappeared; social needs have...
Persistent link: https://www.econbiz.de/10013125090
Mexico's fiscal response to the pandemic has been modest compared to its peers, reflecting the authorities' desire to not issue new debt for spending. This approach, however, risks a more severe recession and a weaker economic recovery, with further costs in the future. Balancing the need for...
Persistent link: https://www.econbiz.de/10013314839
Monetary and fiscal policies face huge challenges: the banking sector has collapsed; the economy is in the midst of a deep recession; the exchange rate has plunged; capital flows have been frozen; inflation is elevated; public debt has risen; source of revenues have disappeared; social needs have...
Persistent link: https://www.econbiz.de/10012445717
There is an important interdependence between economic, financial and health policy actions. The recent Covid-19 crisis has demonstrated that, apart from the direct economic consequences from illness and death from the virus, the main economic and financial costs have been due to the varying...
Persistent link: https://www.econbiz.de/10012286510