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Fiscal Stimulus and Commercial Bank Lending Under COVID-19

Aizenman, Joshua; Jinjarak, Yothin; Spiegel, Mark - National Bureau of Economic Research - 2022

We investigate the implications of extra-normal government spending under the COVID-19 pandemic for commercial bank lending growth between 2019Q4 and 2020Q4 in a large sample of over 3000 banks from 71 countries. We control for pre-pandemic structural factors, bank characteristics and government...

Persistent link: https://www.econbiz.de/10013172181

Hoarding international reserves versus a Pigovian tax-cum-subsidy scheme : reflections in the deleveraging crisis of 2008-9, and a cost benefit analysis

Aizenman, Joshua - 2009

Persistent link: https://www.econbiz.de/10003904258

Hoarding international reserves versus a Pigovian tax-cum-subsidy scheme : reflections on the deleveraging crisis of 2008-9, and a cost benefit analysis

Aizenman, Joshua - 2010

In this paper we outline a Pigovian tax-cum-subsidy scheme that deals with concerns about the costs and efficacy of … of international reserves. -- Fire-sale congestion externality ; deleveraging ; tax-cum-subsidy ; international reserves. …

Persistent link: https://www.econbiz.de/10008698946

Hoarding international reserves versus a Pigovian tax-cum-subsidy scheme : reflections on the deleveraging crisis of 2008 - 2009, and a cost benefit analysis

Aizenman, Joshua - In: Journal of economic dynamics & control 35 (2011) 9, pp. 1502-1513

Persistent link: https://www.econbiz.de/10009306496

Hoarding international reserves versus a Pigovian tax-cum-subsidy scheme : reflections on the deleveraging crisis of 2008 - 9, and a cost benefit analysis

Aizenman, Joshua - In: Post-crisis regulatory reforms to secure financial …, (pp. 371-392). 2010

Persistent link: https://www.econbiz.de/10008939679

Hoarding International Reserves Versus a Pigovian Tax-Cum-Subsidy Scheme : Reflections on the Deleveraging Crisis of 2008-9, and a Cost Benefit Analysis

Aizenman, Joshua - 2009

We outline the case for supporting self-insurance by imposing a tax on external borrowing in a model of an emerging market. Entrepreneurs finance tangible investments via bank intermediation of foreign borrowing, exposing the economy to negative fire-sale externalities at times of deleveraging;...

Persistent link: https://www.econbiz.de/10012463165