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Author : Tullio Jappelli
Publisher :
ISBN 13 :
Total Pages : 23 pages
Book Rating : 4.:/5 (322 download)
Download or read book The Welfare Effects of Liquidity Constraints written by Tullio Jappelli and published by . This book was released on 1995 with total page 23 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Milton H. Marquis
Publisher :
ISBN 13 :
Total Pages : 27 pages
Book Rating : 4.:/5 (133 download)
Download or read book The joint and several effects of liquidity constraints, financing contraints, and financial intermediation on the welfare cost of inflation written by Milton H. Marquis and published by . This book was released on with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Milton H. Marquis
Publisher :
ISBN 13 :
Total Pages : 42 pages
Book Rating : 4.:/5 (318 download)
Download or read book The Joint and Several Effects of Liquidity Constraints, Financing Constraints, and Financial Intermediation on the Welfare Cost of Inflation written by Milton H. Marquis and published by . This book was released on 1999 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Jonathan Chiu
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)
Download or read book On the Welfare Effects of Credit Arrangements written by Jonathan Chiu and published by . This book was released on 2018 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This article studies the welfare effects of credit arrangements and how these effects depend on the trading mechanism and inflation. In a competitive market, credit arrangements can be welfare reducing, because high consumption by credit users drives up the price level, reducing consumption by money users who are subject to a binding liquidity constraint. By adopting an optimal trading mechanism, however, these welfare implications can be overturned. Both price discrimination and nonlinear pricing are essential features of an optimal mechanism.
Author : Milton H. Marquis
Publisher :
ISBN 13 :
Total Pages : 27 pages
Book Rating : 4.:/5 (318 download)
Download or read book The Joint and Several Effects of Liquidity Constraints, Financing Contraints and Financial Intermediation on the Welfare Cost of Innflation written by Milton H. Marquis and published by . This book was released on 1999 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Rodrigo Cifuentes
Publisher :
ISBN 13 :
Total Pages : 22 pages
Book Rating : 4.:/5 (249 download)
Download or read book Tax Incentives for Retirement Savings written by Rodrigo Cifuentes and published by . This book was released on 2003 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Sebastian Edwards
Publisher : University of Chicago Press
ISBN 13 : 9780226184944
Total Pages : 782 pages
Book Rating : 4.1/5 (849 download)
Download or read book Preventing Currency Crises in Emerging Markets written by Sebastian Edwards and published by University of Chicago Press. This book was released on 2002-11-15 with total page 782 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economists and policymakers are still trying to understand the lessons recent financial crises in Asia and other emerging market countries hold for the future of the global financial system. In this timely and important volume, distinguished academics, officials in multilateral organizations, and public and private sector economists explore the causes of and effective policy responses to international currency crises. Topics covered include exchange rate regimes, contagion (transmission of currency crises across countries), the current account of the balance of payments, the role of private sector investors and of speculators, the reaction of the official sector (including the multilaterals), capital controls, bank supervision and weaknesses, and the roles of cronyism, corruption, and large players (including hedge funds). Ably balancing detailed case studies, cross-country comparisons, and theoretical concerns, this book will make a major contribution to ongoing efforts to understand and prevent international currency crises.
Author : Paul Gertler
Publisher : World Bank Publications
ISBN 13 : 2006081012
Total Pages : 50 pages
Book Rating : 4.0/5 (6 download)
Download or read book Investing Cash Transfers to Raise Long Term Living Standards written by Paul Gertler and published by World Bank Publications. This book was released on 2006 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: "The authors test whether poor households use cash transfers to invest in income generating activities that they otherwise would not have been able to do. Using data from a controlled randomized experiment, they find that transfers from the Oportunidades program to households in rural Mexico resulted in increased investment in micro-enterprise and agricultural activities. For each peso transferred, beneficiary households used 88 cents to purchase consumption goods and services, and invested the rest. The investments improved the household's ability to generate income with an estimated rate of return of 17.55 percent, suggesting that these households were both liquidity and credit constrained. By investing transfers to raise income, beneficiary households were able to increase their consumption by 34 percent after five and a half years in the program. The results suggest that cash transfers to the poor may raise long-term living standards, which are maintained after program benefits end. "--World Bank web site.
Author : Bengt Holmstrom
Publisher : MIT Press
ISBN 13 : 0262518538
Total Pages : 263 pages
Book Rating : 4.2/5 (625 download)
Download or read book Inside and Outside Liquidity written by Bengt Holmstrom and published by MIT Press. This book was released on 2013-01-11 with total page 263 pages. Available in PDF, EPUB and Kindle. Book excerpt: Two leading economists develop a theory explaining the demand for and supply of liquid assets. Why do financial institutions, industrial companies, and households hold low-yielding money balances, Treasury bills, and other liquid assets? When and to what extent can the state and international financial markets make up for a shortage of liquid assets, allowing agents to save and share risk more effectively? These questions are at the center of all financial crises, including the current global one. In Inside and Outside Liquidity, leading economists Bengt Holmström and Jean Tirole offer an original, unified perspective on these questions. In a slight, but important, departure from the standard theory of finance, they show how imperfect pledgeability of corporate income leads to a demand for as well as a shortage of liquidity with interesting implications for the pricing of assets, investment decisions, and liquidity management. The government has an active role to play in improving risk-sharing between consumers with limited commitment power and firms dealing with the high costs of potential liquidity shortages. In this perspective, private risk-sharing is always imperfect and may lead to financial crises that can be alleviated through government interventions.
Author : Sergio Nicoletti-Altimari
Publisher :
ISBN 13 :
Total Pages : 64 pages
Book Rating : 4.3/5 ( download)
Download or read book The Effect of Liquidity Constraints on Consumption and Labor Supply written by Sergio Nicoletti-Altimari and published by . This book was released on 1995 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Mr.Mauricio Vargas
Publisher : International Monetary Fund
ISBN 13 : 1498365051
Total Pages : 48 pages
Book Rating : 4.4/5 (983 download)
Download or read book Identifying Binding Constraints to Growth written by Mr.Mauricio Vargas and published by International Monetary Fund. This book was released on 2015-01-14 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: As emphasized by Hausmann, Rodrik and Velasco, the policy challenge of boosting growth requires prioritization and identifying what are the most binding constraints. This paper draws on firm-level data from the World Bank Enterprise Survey, which suggests that the obstacles for the functioning of firms is related to firm size. Recognizing the potential endogeneity and simultaneity between firms' constraints and firm size, we implement an Ordered-Probit model with a potential categorical endogenous regressor to estimate, for the case of Bolivia, the conditional probability of facing obstacles given the firm size category, while controlling for other factors. The results confirm the importance of allowing for the roles of firm size in identifying constraints and suggest priorities for policies to remove constraints to economic performance.
Author : Joseph G. Haubrich
Publisher : University of Chicago Press
ISBN 13 : 0226921964
Total Pages : 286 pages
Book Rating : 4.2/5 (269 download)
Download or read book Quantifying Systemic Risk written by Joseph G. Haubrich and published by University of Chicago Press. This book was released on 2013-01-24 with total page 286 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the aftermath of the recent financial crisis, the federal government has pursued significant regulatory reforms, including proposals to measure and monitor systemic risk. However, there is much debate about how this might be accomplished quantitatively and objectively—or whether this is even possible. A key issue is determining the appropriate trade-offs between risk and reward from a policy and social welfare perspective given the potential negative impact of crises. One of the first books to address the challenges of measuring statistical risk from a system-wide persepective, Quantifying Systemic Risk looks at the means of measuring systemic risk and explores alternative approaches. Among the topics discussed are the challenges of tying regulations to specific quantitative measures, the effects of learning and adaptation on the evolution of the market, and the distinction between the shocks that start a crisis and the mechanisms that enable it to grow.
Author :
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 46 pages
Book Rating : 4./5 ( download)
Download or read book Gaugin the Welfare Effects of Schock in Rural Tanzania written by and published by World Bank Publications. This book was released on with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Iwan J. Azis
Publisher : Springer
ISBN 13 : 9812872841
Total Pages : 129 pages
Book Rating : 4.8/5 (128 download)
Download or read book Managing Elevated Risk written by Iwan J. Azis and published by Springer. This book was released on 2014-12-11 with total page 129 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book discusses the risks and opportunities that arise in Emerging Asia given the context of a new environment in global liquidity and capital flows. It elaborates on the need to ensure financial and overall economic stability in the region through improved financial regulation and other policy measures to minimize the emergent risks. "Managing Elevated Risk: Global Liquidity, Capital Flows, and Macroprudential Policy—An Asian Perspective" also explores the range of policy options that may be deployed to address the impact of global liquidity on domestic financial and socio-economic conditions including income inequality. The book is primarily aimed at policy makers, financial market regulators and supervisory agencies to help them improve national regulatory systems and to promote harmonization of national regulations and practices in line with global standards. Scholars and researchers will also gain important information and knowledge about the overall impacts of changing global liquidity from the book.
Author : International Monetary Fund
Publisher : International Monetary Fund
ISBN 13 : 1451964323
Total Pages : 30 pages
Book Rating : 4.4/5 (519 download)
Download or read book The Welfare Effects of Public Expenditure Programs Reconsidered written by International Monetary Fund and published by International Monetary Fund. This book was released on 1989-08-02 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: The paper proposes a new welfare-based measure to evaluate the distributive effects of public programs. The proposed measure differs from traditional approaches in two important ways: first, it is based on life-cycle considerations, since most public expenditure programs have an intertemporal objective (such as education, housing, or social security); second, it takes into account market imperfections (such as in capital, credit, or annuity markets), which themselves give rise to many governmental interventions. The measure and its numerical illustrations suggest that, in general, the welfare effects from public programs whose aim is to eliminate market constraints predominate those that can be achieved through interpersonal income distribution.
Author : Andreas Pollak
Publisher : Mohr Siebeck
ISBN 13 : 9783161493041
Total Pages : 204 pages
Book Rating : 4.4/5 (93 download)
Download or read book Optimal Unemployment Insurance written by Andreas Pollak and published by Mohr Siebeck. This book was released on 2007 with total page 204 pages. Available in PDF, EPUB and Kindle. Book excerpt: Designing a good unemployment insurance scheme is a delicate matter. In a system with no or little insurance, households may be subject to a high income risk, whereas excessively generous unemployment insurance systems are known to lead to high unemployment rates and are costly both from a fiscal perspective and for society as a whole. Andreas Pollak investigates what an optimal unemployment insurance system would look like, i.e. a system that constitutes the best possible compromise between income security and incentives to work. Using theoretical economic models and complex numerical simulations, he studies the effects of benefit levels and payment durations on unemployment and welfare. As the models allow for considerable heterogeneity of households, including a history-dependent labor productivity, it is possible to analyze how certain policies affect individuals in a specific age, wealth or skill group. The most important aspect of an unemployment insurance system turns out to be the benefits paid to the long-term unemployed. If this parameter is chosen too high, a large number of households may get caught in a long spell of unemployment with little chance of finding work again. Based on the predictions in these models, the so-called "Hartz IV" labor market reform recently adopted in Germany should have highly favorable effects on the unemployment rates and welfare in the long run.
Author : Jean-François Laslier
Publisher : Springer Nature
ISBN 13 : 3030180506
Total Pages : 507 pages
Book Rating : 4.0/5 (31 download)
Download or read book The Future of Economic Design written by Jean-François Laslier and published by Springer Nature. This book was released on 2019-11-15 with total page 507 pages. Available in PDF, EPUB and Kindle. Book excerpt: This collection of essays represents responses by over eighty scholars to an unusual request: give your high level assessment of the field of economic design, as broadly construed. Where do we come from? Where do we go from here? The book editors invited short, informal reflections expressing deeply felt but hard to demonstrate opinions, unsupported speculation, and controversial views of a kind one might not normally risk submitting for review. The contributors – both senior researchers who have shaped the field and promising, younger researchers – responded with a diverse collection of provocative pieces, including: retrospective assessments or surveys of the field; opinion papers; reflections on critical points for the development of the discipline; proposals for the immediate future; "science fiction"; and many more. The readers should have fun reading these unusual pieces – as much as the contributors enjoyed writing them.
