This study makes an innovative approach towards rating the profitability of micro-credit. While previous research on microfinance has been conducted through the analysis of individual case studies, this study takes a more widespread look at the financial performance of micro-lending...

In this paper, I develop a two-country general equilibrium model with financial frictions to study the global consequences of quantitative easing (QE) and foreign exchange reserve accumulation. In the model, the key financial frictions are limited commitment and differential pledgeability of...

While early cryptoassets such as Bitcoin have reputation for high price fluctuation and limited scalability, stablecoin, a new class of cryptographic token, emerged with the purpose of mitigating price volatility. What distinguishes stablecoin from pre-existing cryptocurrency is its use of...

This paper studies a New Keynesian model of a two-country world with a zero lower bound (ZLB) constraint for nominal interest rates. A floating exchange rate regime is assumed. The presence of the ZLB generates multiple equilibria. The two countries can experience recurrent liquidity traps...

This paper traces the evolution of the Federal Reserve and its engagement with the global economy over the last three decades of the 20th century: 1970 to 2000. The paper examines the Federal Reserve's role in international economic and financial policy and analysis covering four areas: the...

One of the most striking consequences of the recent episode of sovereign debt market stress in the Eurozone has been the increase in the share of public debt held by the domestic sector in fragile economies. However, the causes and potential consequences of this increase were only given scarce...

We study domestic and international drivers of long-term interest rates using newly compiled financial market data for Switzerland starting in 1852. We use a time-varying parameter vector autoregressive model to estimate long-term trends in nominal interest rates, exchange rate growth, and...

This research investigates Banks' profitability in the United Arab Emirates from 2008 to 2012 using Bankscope Data Base, Financial Statement, and quantitative methodology techniques. This study focuses on 4 banks, 2 Islamic banks (Dubai Islamic Bank PJSC, Abu Dhabi Islamic Bank - Public Joint...

This study makes an innovative approach towards rating the profitability of microcredit. A sample consisting of 24 micro-finance institutions (MFIs) operating in different regions worldwide is observed over a period of up to 9 consecutive years. The capacity of those institutions to generate...

In May 2007 the Bank for International Settlements (BIS) and the Federal Reserve Bank (FRB) of Atlanta hosted a meeting in Mexico City on quot;New financing trends in Latin America: a bumpy road towards stabilityquot;. The meeting, which was chaired by Philip Turner of the BIS, brought together...