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Persistent link: https://www.econbiz.de/10012051544
Based on a survey of Mexican firms, this paper provides evidence of the positive effect of bank credit on firms …' productivity. This effect is larger for those firms with access to bank credit and investment opportunities than for firms that … only have either investment perspectives or bank credit. The potential problem of endogeneity in the empirical estimates is …
Persistent link: https://www.econbiz.de/10010500820
This paper studies the relationship between competition measures at the bank level and the price of credit for non …
Persistent link: https://www.econbiz.de/10012256390
In monetary models in which agents are subject to trading shocks there is typically an ex-post inefficiency in that some agents are holding idle balances while others are cash constrained. This inefficiency creates a role for financial intermediaries, such as banks, who accept nominal deposits...
Persistent link: https://www.econbiz.de/10010277060
Persistent link: https://www.econbiz.de/10000957530
Persistent link: https://www.econbiz.de/10002717359
In monetary models in which agents are subject to trading shocks there is typically an ex-post inefficiency in that some agents are holding idle balances while others are cash constrained. This inefficiency creates a role for financial intermediaries, such as banks, who accept nominal deposits...
Persistent link: https://www.econbiz.de/10003297591
We develop a theory of money and credit as competing payment instruments, then put it to work in applications. Buyers can use cash or credit, with the former (latter) subject to the inflation tax (transaction costs). Frictions that make the choice of payment method interesting also imply...
Persistent link: https://www.econbiz.de/10011716479
Persistent link: https://www.econbiz.de/10013265406
This paper examines the effect of cash versus in-kind transfers on local prices. Both types of transfers increase the demand for normal goods; in-kind transfers also increase supply in recipient communities, which should cause prices to fall relative to cash transfers. We test and confirm this...
Persistent link: https://www.econbiz.de/10011302889