Similar Search Results

Optimal price indices for targeting inflation under incomplete markets

Anand, Rahul; Prasad, Eswar S. - 2010

In models with complete markets, targeting core inflation enables monetary policy to maximize welfare by replicating the flexible price equilibrium. In this paper, we develop a twosector two-good closed economy new Keynesian model to study the optimal choice of price index in markets with...

Persistent link: https://www.econbiz.de/10008810538

Credit constraints and productive entrepreneurship in Africa

Baliamoune-Lutz, Mina; Brixiova, Zuzana; Ndikumana, Léonce - 2011

that can be used as collateral. This paper presents a model where firm creation and growth hinge on matching potential … entrepreneurs with productive technologies, while firm growth depends on acquired capital. The shortage of collateral creates a ….g., the depth of credit information and the strength of legal rights pertaining to collateral and bankruptcy) would stimulate …

Persistent link: https://www.econbiz.de/10009523518

Household debt and crises of confidence

Hintermaier, Thomas; Koeniger, Winfried - 2015

a collateral constraint. Over a specific range of debt levels this liquidity feedback effect is strong enough to give …

Persistent link: https://www.econbiz.de/10011347156

The role of real wage rigidity and labor market frictions for unemployment and inflation dynamics

Christoffel, Kai (contributor); Linzert, Tobias (contributor) - 2005

In this paper we incorporate a labor market with matching frictions and wage rigidities into the New Keynesian business cycle model. In particular, we analyze the effect of a monetary policy shock and investigate how labor market frictions affect the transmission process of monetary policy. The...

Persistent link: https://www.econbiz.de/10003227218

Causal effects of monetary shocks : semiparametric conditional independence tests with a multinomial propensity score

Angrist, Joshua D. (contributor); … - 2008

Macroeconomists have long been concerned with the causal effects of monetary policy. When the identification of causal effects is based on a selection-on-observables assumption, non-causality amounts to the conditional independence of outcomes and policy changes. This paper develops a...

Persistent link: https://www.econbiz.de/10003739948

Why have lending programs targeting disadvantaged small-business borrowers achieved so little succes in the United States? /Timothy Bates; Magnus Lofstrom; Lisa Servon

Bates, Timothy Mason; Lofstrom, Magnus; Servon, Lisa J. - 2010

Small business lending programs designed to move disadvantaged low-income people into business ownership have been difficult to implement successfully in the US context. Based in part on the premise that financing requirements are an entry barrier limiting the ability of aspiring entrepreneurs...

Persistent link: https://www.econbiz.de/10009011536

Financial constraints and girls' secondary education : evidence from school fee elimination in The Gambia

Blimpo, Moussa P.; Gajigo, Ousman; Pugatch, Todd - 2015

We assess the impact of large-scale fee elimination for secondary school girls in The Gambia on the quantity, composition, and achievement of students. The gradual rollout of the program across geographic regions provides identifying variation in the policy. The program increased access to...

Persistent link: https://www.econbiz.de/10011288636

Heterogeneous effects of credit constraints on SMEs' employment : evidence from the Great Recession

Cornille, David; Rycx, François; Tojerow, Ilan - 2018

This paper takes advantage of access to detailed matched bank-firm data to investigate whether and how employment decisions of SMEs have been affected by credit constraints in the wake of the Great Recession. Variability in banks' financial health following the 2008 crisis is used as an...

Persistent link: https://www.econbiz.de/10011785728

The economic effects of COVID-19 and credit constraints: evidence from Italian firms' expectations and plans

Balduzzi, Pierluigi; Brancati, Emanuele; Brianti, Marco; … - 2020

We investigate the economic effects of the COVID-19 pandemic and the role played by credit constraints in the transmission mechanism, using a novel survey of expectations and plans of Italian firms, taken just before and after the outbreak. Most firms revise downward their expectations for...

Persistent link: https://www.econbiz.de/10012271637

Smuggling humans : a theory of debt-financed migration

Friebel, Guido (contributor); Guriev, Sergej (contributor) - 2004 - [Elektronische Ressource]

Persistent link: https://www.econbiz.de/10001921416