Showing 81 - 90 of 14,750
The paper proposes a two-step approach to assessing the extent to which the fall in credit in crisis-stricken East Asian countries was a supply- or demand-induced phenomenon. The first step is based on the estimation of a demand function for excess liquid assets by commercial banks. Such a...
Persistent link: https://www.econbiz.de/10012786267
This paper interprets contagion effects as a perceived increase (triggered by events occurring elsewhere) in the volatility of aggregate shocks impinging on the domestic economy. The implications of this approach are analyzed in a model with two types of credit market imperfections: domestic...
Persistent link: https://www.econbiz.de/10012763578
This paper studies the effects of contagion on bank lending spreads and output fluctuations in Argentina. The first part presents the analytical framework, which analyzes the determination of bank lending spreads in the presence of verification and enforcement costs of loan contracts. The second...
Persistent link: https://www.econbiz.de/10012763821
This paper examines the effect of volatility on the costs and benefits of financial market integration. The basic framework combines the costly state verification model and the contract enforceability approach. The welfare effects of financial market integration are assessed by comparing welfare...
Persistent link: https://www.econbiz.de/10012763827
This paper studies the impact of aid volatility in a two-period model where production may occur with either a traditional or a modern technology. Public spending is productive and quot;time to buildquot; requires expenditure in both periods for the modern technology to be used. The possibility...
Persistent link: https://www.econbiz.de/10012753834
This paper studies how capital market imperfections affect the welfare effects of forming a currency union. The analysis considers a bank-only world where intermediaries compete in Cournot fashion and monitoring and state verification are costly. The first part determines the credit market...
Persistent link: https://www.econbiz.de/10012759212
Persistent link: https://www.econbiz.de/10015132240
Persistent link: https://www.econbiz.de/10001356081
This paper analyzes the macroeconomic effects of fiscal and labor market policies in a small open developing country. The basic framework considers an economy with a large informal production sector and a heterogeneous work force. The labor market is segmented as a result of efficiency...
Persistent link: https://www.econbiz.de/10013308614
Persistent link: https://www.econbiz.de/10015122302