Similar Search Results

Dynamic effect of a change in the exchange rate system: From a fixed regime to a basket-peg or a floating regime

Yoshino, Naoyuki; Kaji, Sahoko; Asonuma, Tamon - 2015

This paper theoretically evaluates the dynamic effects of a shift in an exchange rate system from a fixed regime to a basket peg, or to a floating regime, and obtains transition paths for the shift based on a dynamic stochastic general equilibrium model of a small open economy. We apply...

Persistent link: https://www.econbiz.de/10011311015

Productivity, Exporting and Financial Constraints of Chinese SMEs

Van Biesebroeck, Johannes - 2014

to expand output and exploit all scale economies that the production technology allows. With access to finance problems …

Persistent link: https://www.econbiz.de/10011314142

Types of banking institutions and economic growth: An endogenous growth model

Elmawazini, Khaled; Khiyar, Khiyar Abdalla; Al Galfy, Ahmad - 2015

There is mixed support for the hypothesis that the banking sector is a channel for economic growth. While most studies on economic growth in Gulf Cooperation Council (GCC) countries have not distinguished between conventional banks and Islamic banks, this study contributes to the empirical...

Persistent link: https://www.econbiz.de/10011327916

Financing the capital development of the economy: A Keynes-Schumpeter-Minsky synthesis

Mazzucato, Mariana; Wray, L. Randall - 2015

This paper discusses the role that finance plays in promoting the capital development of the economy, with particular … emphasis on the current situation of the United States and the United Kingdom. We define both "finance" and "capital … the United States. To a large degree, this was because finance, instead of financing the capital development of the …

Persistent link: https://www.econbiz.de/10011335945

Option-implied term structures

Vogt, Erik - 2014

The illiquidity of long-maturity options has made it difficult to study the term structures of option spanning portfolios. This paper proposes a new estimation and inference framework for these option-implied term structures that addresses long-maturity illiquidity. By building a sieve estimator...

Persistent link: https://www.econbiz.de/10011340958

Finance, Comparative Advantage, and Resource Allocation

Jaud, Melise; Kukenova, Madina; Strieborny, Martin - 2014

in terminating inefficient trade flows. This constitutes a new channel through which finance improves resource allocation …

Persistent link: https://www.econbiz.de/10011345541

Financiamento interno de longo prazo

da Costa, Fernando Nogueira - 2015

Besides the introduction and the final conclusions, this Discussion Paper has four sections. The first presents the "state of art", that is, the current debate about the long-term financing of the neo-corporatist state capitalism in Brazil. Then it shows the personal and corporate wealth as...

Persistent link: https://www.econbiz.de/10011372255

Did scarce global savings finance the US real estate bubble? The "Global Saving Glut" thesis from a stock flow consistent perspective

Lindner, Fabian - 2015

finance the US real estate boom. Using simple accounting rules, the article shows however that credit is never limited by … of payment - which only the US can produce - Americans give credit to themselves to finance their current account …

Persistent link: https://www.econbiz.de/10011372379

Crowdfunding, demand uncertainty, and moral hazard: A mechanism design approach

Strausz, Roland - 2015

Crowdfunding challenges the traditional separation between finance and marketing. It creates economic value by reducing …

Persistent link: https://www.econbiz.de/10011380705

Saving by default: Evidence from a field experiment in rural India

Somville, Vincent; Vandewalle, Lore - 2015

A growing share of the world population is getting access to a formal bank account. This allows a move from cash to account based payments. Grounding our hypothesis in behavioral economics, we conjecture that being paid on an account instead of in cash can play a major role in encouraging...

Persistent link: https://www.econbiz.de/10011381206