This paper analyzes how different types of bank funding affect the extent to which banks ration credit to borrowers, and the impact that capital requirements have on that rationing. Using an extension of the standard Stiglitz-Weiss model of credit rationing, unsecured wholesale finance is shown...

Where do we go from here? The Fall-Winter 2020 issue of the IMF Research Perspectives considers this question and analyzes the impact of the COVID-19 pandemic. The research showcased in this issue looks at the history of social unrest in the aftermaths of pandemics, discusses the inequalities of...