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Borrowing Constraints
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Book Synopsis Financial Development and Economic Growth by : Mr.Pablo Emilio Guidotti
Download or read book Financial Development and Economic Growth written by Mr.Pablo Emilio Guidotti and published by International Monetary Fund. This book was released on 1992-12-01 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the empirical relationship between long–run growth and the degree of financial development, proxied by the ratio of bank credit to the private sector as a fraction of GDP. We find that this proxy enters significantly and with a positive sign in growth regressions on a large cross–country sample, but with a negative sign using panel data for Latin America. Our findings suggest that the main channel of transmission from financial development to growth is the efficiency of investment, rather than its volume. We also present a model where the negative correlation between financial intermediation and growth results from financial liberalization in a poor regulatory environment.
Book Synopsis Finance, Growth, and Public Policy by : Mark Gertler
Download or read book Finance, Growth, and Public Policy written by Mark Gertler and published by World Bank Publications. This book was released on 1991 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: A thriving financial market depends not only on a prudent regulatory regime but also on having enough creditworthy borrowers. Policies in the real sector- macroeconomic, public finance, and trade policies- that directly stimulate growth and stability should be pursued in concert with financial reform.
Book Synopsis Borrowing Constraints and Asset Market Dynamics by : Kenneth Allan Kasa
Download or read book Borrowing Constraints and Asset Market Dynamics written by Kenneth Allan Kasa and published by . This book was released on 1998 with total page 110 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Credit Markets with Differences in Abilities by : Mr.Se-Jik Kim
Download or read book Credit Markets with Differences in Abilities written by Mr.Se-Jik Kim and published by International Monetary Fund. This book was released on 1994-04-01 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper addresses the growth, welfare, and distributional effects of credit markets. We construct a general equilibrium model where human capital is the engine of growth and individuals differ in their education abilities. We argue that the existence of credit markets encourages specialization, by which individuals choose during their youth to work or to receive formal education. This specialization unambiguously increases growth and welfare. The model also shows that in economies with high (low) average level of education abilities, the opening of credit markets induces a more disperse (equal) income distribution.
Book Synopsis Income Risk, Borrowing Constraints and Portfolio Choice by : Luigi Guiso
Download or read book Income Risk, Borrowing Constraints and Portfolio Choice written by Luigi Guiso and published by . This book was released on 1994 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Macroeconomics by : N. Gregory Mankiw
Download or read book Macroeconomics written by N. Gregory Mankiw and published by Macmillan. This book was released on 2003 with total page 600 pages. Available in PDF, EPUB and Kindle. Book excerpt: The fifth edition of the #1 bestselling intermediate macroeconomics text, with coverage based on the most recent data available, plus new student media resources.
Book Synopsis Student Loans and the Dynamics of Debt by : Brad Hershbein
Download or read book Student Loans and the Dynamics of Debt written by Brad Hershbein and published by W.E. Upjohn Institute. This book was released on 2015-02-23 with total page 484 pages. Available in PDF, EPUB and Kindle. Book excerpt: The papers included in this volume represent the most current research and knowledge available about student loans and repayment. It serves as a valuable reference for researchers and policymakers who seek a deeper understanding of how, why, and which students borrow for their postsecondary education; how this borrowing may affect later decisions; and what measures can help borrowers repay their loans successfully.
Book Synopsis Intergenerational Transfers, Borrowing Constraints and the Timing of Home Ownership by : Luigi Guiso
Download or read book Intergenerational Transfers, Borrowing Constraints and the Timing of Home Ownership written by Luigi Guiso and published by . This book was released on 1996 with total page 86 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Altruism, Borrowing Constraints, and Social Security by : David Altig
Download or read book Altruism, Borrowing Constraints, and Social Security written by David Altig and published by . This book was released on 1989 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Private Transfers, Borrowing Constraints and the Timing of Home Ownership by : Luigi Guiso
Download or read book Private Transfers, Borrowing Constraints and the Timing of Home Ownership written by Luigi Guiso and published by . This book was released on 1998 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis How Governments Borrow by : Ben Cormier
Download or read book How Governments Borrow written by Ben Cormier and published by Oxford University Press. This book was released on 2024-02-29 with total page 193 pages. Available in PDF, EPUB and Kindle. Book excerpt: How Governments Borrow reveals how annual borrowing decisions are informed by domestic politics. The book traces the annual fiscal policymaking process in Emerging Markets (EM) to show how a government's partisan policy preferences are a primary determinant of annual external borrowing decisions and thus patterns of debt accumulation. That sovereign debt composition has partisan political roots provides insights for scholars in political science, international relations, economics, sociology, and public administration that work on sovereign debt. Sovereign debt composition enhances or limits the capacity of an EM government to contribute to social and economic development. Many EMs depend on foreign currency debt. How much external debt an EM government owes, the cost of that debt, the maturity of that debt, and the conditions attached to that debt all determine the political and economic opportunities and risks associated with a government's borrowings. EMs borrow from different sources each year, leading them to build different sovereign debt structures over time. Some prioritize cheap yet conditional official credit, which constrains policy autonomy but enhances debt sustainability. Others prioritize comparatively expensive bond markets, which enhances policy autonomy but brings more expensive repayment obligations on to national balance sheets. As countries accumulate debt, the borrowing choices they make come to have important effects on fiscal space, debt sustainability, and development.
Book Synopsis Some Direct Evidence on the Importance of Borrowing Constraints to the Labor Force Participation of Married Women by : Janice Shack-Marquez
Download or read book Some Direct Evidence on the Importance of Borrowing Constraints to the Labor Force Participation of Married Women written by Janice Shack-Marquez and published by . This book was released on 1986 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Identifying Constraints to Financial Inclusion and Their Impact on GDP and Inequality by : Ms.Era Dabla-Norris
Download or read book Identifying Constraints to Financial Inclusion and Their Impact on GDP and Inequality written by Ms.Era Dabla-Norris and published by International Monetary Fund. This book was released on 2015-01-27 with total page 49 pages. Available in PDF, EPUB and Kindle. Book excerpt: We develop a micro-founded general equilibrium model with heterogeneous agents to identify pertinent constraints to financial inclusion. We evaluate quantitatively the policy impacts of relaxing each of these constraints separately, and in combination, on GDP and inequality. We focus on three dimensions of financial inclusion: access (determined by the size of participation costs), depth (determined by the size of collateral constraints resulting from limited commitment), and intermediation efficiency (determined by the size of interest rate spreads and default possibilities due to costly monitoring). We take the model to a firm-level data from the World Bank Enterprise Survey for six countries at varying degrees of economic development—three low-income countries (Uganda, Kenya, Mozambique), and three emerging market countries (Malaysia, the Philippines, and Egypt). The results suggest that alleviating different financial frictions have a differential impact across countries, with country-specific characteristics playing a central role in determining the linkages and tradeoffs between inclusion, GDP, inequality, and the distribution of gains and losses.
Book Synopsis Financial Shock Transmission to Heterogeneous Firms: The Earnings-Based Borrowing Constraint Channel by : Livia Chiţu
Download or read book Financial Shock Transmission to Heterogeneous Firms: The Earnings-Based Borrowing Constraint Channel written by Livia Chiţu and published by International Monetary Fund. This book was released on 2023-09-15 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: We study the heterogeneous impact of jointly identified monetary policy and global risk shocks on corporate funding costs. We disentangle these two shocks in a structural Bayesian Vector Autoregression framework and investigate their respective effects on funding costs of heterogeneous firms using micro-data for the US. We tease out mechanisms underlying the effects by contrasting traditional financial frictions arising from asset-based collateral constraints with the recent earnings-based borrowing constraint hypothesis, differentiating firms across leverage and earnings. Our empirical evidence strongly supports the earnings-based borrowing constraint hypothesis. We find that global risk shocks have stronger and more heterogeneous effects on corporate funding costs which depend on firms' position within the earnings distribution.
Author :International Monetary Fund. Strategy, Policy, & Review Department Publisher :International Monetary Fund ISBN 13 :1498340008 Total Pages :104 pages Book Rating :4.4/5 (983 download)
Book Synopsis Macroeconomic Policy Frameworks for Resource-Rich Developing Countries--Analytic Frameworks and Applications by : International Monetary Fund. Strategy, Policy, & Review Department
Download or read book Macroeconomic Policy Frameworks for Resource-Rich Developing Countries--Analytic Frameworks and Applications written by International Monetary Fund. Strategy, Policy, & Review Department and published by International Monetary Fund. This book was released on 2012-08-24 with total page 104 pages. Available in PDF, EPUB and Kindle. Book excerpt: This supplement presents the analytical frameworks underlying the IMF’s staff’s enhanced policy analysis and advice to resource-rich developing countries (RRDCs). The proposed macro-fiscal models, which are applied to selected country or regional cases, are aimed at addressing questions regarding how to deal with resource revenue uncertainty and how to scale up spending within relevant frameworks that ensure fiscal and external sustainability while addressing absorptive capacity constraints. The country applications confirm the importance attached by both IMF staff and country authorities of using the appropriate macro-fiscal frameworks to address the specific challenges faced by RRDCs.
Book Synopsis Macroeconomics: Canadian Edition Updated by : N. Gregory Mankiw
Download or read book Macroeconomics: Canadian Edition Updated written by N. Gregory Mankiw and published by Macmillan. This book was released on 2003-08-12 with total page 642 pages. Available in PDF, EPUB and Kindle. Book excerpt: The #1 bestselling intermediate macroeconomics book, Mankiw's masterful text covers the field as accessibly and concisely as possible, in a way that emphasizes the relevance of both macroeconomics's classical roots and its current practice. Featuring the latest data, new case studies, and a number of significant content updates, the new Sixth Edition takes the Mankiw legacy even further.
Book Synopsis Private Pensions and Public Policies by : William G. Gale
Download or read book Private Pensions and Public Policies written by William G. Gale and published by Rowman & Littlefield. This book was released on 2004-04-21 with total page 428 pages. Available in PDF, EPUB and Kindle. Book excerpt: The private pension system, together with Social Security, has provided millions of Americans with income security in retirement. But over the past thirty years, pension coverage has stagnated, leaving behind some vulnerable groups. Defined contribution plans have exposed workers to greater investment risk, while cash balance and other hybrid plans may have adverse effects on older workers caught in the transition. Pension regulations, infamous for their complexity, can be bewildering to policy analysts and policymakers. Private Pensions and Public Policies sheds timely and much-needed light on specific issues within the broader context and framework of pension reform. Contributors focus on topics that must be addressed in any reform effort, including the effects of the shift in emphasis toward defined contribution plans (after the 1974 Employee Retirement Income and Security Act) and hybrid plans (from the 1990s); regulatory issues such as nondiscrimination rules and contribution limits; how to increase the information available to participants and improve financial education; how participants in defined contribution plans make choices on questions such as asset allocation, back-loaded versus front-loaded saving, and annuities versus lump sum distributions; and the interaction of the private pension system with Social Security. Contributors include Robert L. Clark (North Carolina State University), Sylvester J. Schieber (Watson Wyatt Worldwide), Richard A. Ippolito (George Mason University School of Law), Alan L. Gustman (Dartmouth College), Thomas L. Steinmeier (Texas Tech University), John Karl Scholz (University of Wisconsin), Dean M. Maki, (JPMorgan Chase), William Even (Miami University of Ohio), Jagadeesh Gokhale (American Enterprise Institute), Laurence J. Kotlikoff (Boston University), Mark J. Warshawsky (TIAA-CREF Institute), Annika Sunden (Boston College), Andrew A. Samwick (Dartmouth College), David A. Wise (Harvard University), Joel Dickson (T
