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Money Credit Constraints And Economic Activity
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Book Synopsis Money, Credit Constraints, and Economic Activity by : Alan S. Blinder
Download or read book Money, Credit Constraints, and Economic Activity written by Alan S. Blinder and published by . This book was released on 1983 with total page 16 pages. Available in PDF, EPUB and Kindle. Book excerpt: When government expenditures exceed current tax revenues, the resulting deficit must be financed either by issuing bonds, which imply obligations to levy future taxes, or by creating high-powered money. The choice between money and bonds is often thought to be of great moment for both real and nominal variables; that is, monetary policy matters.There is by now a wide empirical consensus that monetary policy has effects on real variables like output and employment. But there is far less agreement about why this is so. The purpose of this paper is to take issue with some currently fashionable views of why money has real effects, and to suggest a new theory, or rather resurrect an old one--the loanable funds theory--and give it new, improved microfoundations
Book Synopsis How Credit-money Shapes the Economy: The United States in a Global System by : Robert Guttmann
Download or read book How Credit-money Shapes the Economy: The United States in a Global System written by Robert Guttmann and published by Routledge. This book was released on 2016-09-16 with total page 727 pages. Available in PDF, EPUB and Kindle. Book excerpt: This text examines money, credit, and economic activity in the increasingly integrated global economy. It focuses on the problems afflicting the United States as it adapts to the transformation of the world economy.
Book Synopsis Money, Credit, and Economic Activity by : Karen P. Feintuck
Download or read book Money, Credit, and Economic Activity written by Karen P. Feintuck and published by . This book was released on 1990 with total page 184 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Credit Constraints, Political Instability, and Capital Accumulation by : Risto Herrala
Download or read book Credit Constraints, Political Instability, and Capital Accumulation written by Risto Herrala and published by International Monetary Fund. This book was released on 2013-12-16 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: We investigate the complex interactions between credit constraints, political instability, and capital accumulation using a novel approach based on Kiyotaki and Moore’s (1997) theoretical framework. Drawing on a unique firm-level data set from Middle-East and North Africa (MENA), empirical findings point to a large and significant effect of credit conditions on capital accumulation and suggest that continued political unrest worsens credit constraints. The results support the view that financial development measured by a relaxing of financial constraints is key to macroeconomic development.
Author :International Monetary Fund Publisher :International Monetary Fund ISBN 13 :9781557751355 Total Pages :40 pages Book Rating :4.7/5 (513 download)
Book Synopsis Debt Reduction and Economic Activity by : International Monetary Fund
Download or read book Debt Reduction and Economic Activity written by International Monetary Fund and published by International Monetary Fund. This book was released on 1990-03-19 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper focuses on principles and various aspects of debt reduction and economic activity. The paper analyzes the effect of debt and debt-service reduction on the contractual and market values of a country's debt and also describes the IMF staff's preliminary attempts to describe and quantify the macroeconomic effects of debt and debt-service reduction. The method by which the buyback is financed is critical in determining how much debt reduction takes place, or, alternatively put, how much the price of debt rises. It is assumed in this paper that individual creditors are free to retain their existing claims and that these cannot be subordinated to new claims. It should be recognized at the outset that the approach used is but one of several possibilities. It should also be emphasized that the discussion is preliminary and that results will need to be reassessed as less restrictive assumptions are employed and as our understanding of the important economic relationships involved improves.
Book Synopsis Money, Credit and Nonfinancial Economic Activity by : Benjamin M. Friedman
Download or read book Money, Credit and Nonfinancial Economic Activity written by Benjamin M. Friedman and published by . This book was released on 1982 with total page 21 pages. Available in PDF, EPUB and Kindle. Book excerpt: Data for five major industrialized economies show that the relationship between credit and nonfinancial economic activity exhibits stability comparable to that of the relationship between money and economic activity. Specific orderings among a narrow monetary aggregate, a broad monetary aggregate and a credit aggregate differ depending upon the stability criterion being applied and the country under study. On balance, credit exhibits the most stable contemporaneous relationship among the three aggregates, while the narrow money stock exhibits the most stable dynamic relationship with credit in second place and the broad money stock third. Further tests for the same five economies also show that, within the total of nonfinancial debt comprising the aggregate, the respective publicand private debt components exhibit movements over time that offset one another, and hence act to maintain the stability of total credit in relation to economic activity. Finally, additional tests for these five economies do not support the notion that the comparability of the respective relationships of credit and money to nonfinancial economic activity is due to any straightforward process whereby "money causes income and income causes credit." The interrelationships among money, credit, real income and prices in each economy are too complex to admit of any such simple interpretation
Book Synopsis Credit Supply and Productivity Growth by : Francesco Manaresi
Download or read book Credit Supply and Productivity Growth written by Francesco Manaresi and published by International Monetary Fund. This book was released on 2019-05-17 with total page 75 pages. Available in PDF, EPUB and Kindle. Book excerpt: We study the impact of bank credit on firm productivity. We exploit a matched firm-bank database covering all the credit relationships of Italian corporations, together with a natural experiment, to measure idiosyncratic supply-side shocks to credit availability and to estimate a production model augmented with financial frictions. We find that a contraction in credit supply causes a reduction of firm TFP growth and also harms IT-adoption, innovation, exporting, and adoption of superior management practices, while a credit expansion has limited impact. Quantitatively, the credit contraction between 2007 and 2009 accounts for about a quarter of observed the decline in TFP.
Book Synopsis Money, Credit and Economic Activity by : Mehdi S. Monadjemi
Download or read book Money, Credit and Economic Activity written by Mehdi S. Monadjemi and published by . This book was released on 1986 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Money and Credit by : Bruce G. Carruthers
Download or read book Money and Credit written by Bruce G. Carruthers and published by Polity. This book was released on 2010-03-15 with total page 225 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book offers a fresh and uniquely sociological perspective on money and credit. As basic economic institutions, money and credit are easy to overlook when they work well. When they malfunction, their importance becomes obvious and demands further investigation. Bruce G. Carruthers and Laura Ariovich examine the social dimensions of money and credit at both the individual and corporate levels, from the development of personal credit in a consumer society to the role of government in the creation of money. In clear prose, they illustrate how the overall economy is governed by the financial system and the flow of capital into, and out of, firms. They also explore the social meanings of money, and how people distinguish between "dirty" and "clean" money. This accessible and engaging book will be essential reading for upper-level students of economic sociology, and those interested in how the bills, coins, and plastic in our pockets shape the world in which we live.
Book Synopsis The Relationship of Money and Credit to Economic Activity by : South-East Asian Central Banks. Research and Training Centre
Download or read book The Relationship of Money and Credit to Economic Activity written by South-East Asian Central Banks. Research and Training Centre and published by . This book was released on 1981 with total page 382 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Federal Reserve System Purposes and Functions by : Board of Governors of the Federal Reserve System
Download or read book The Federal Reserve System Purposes and Functions written by Board of Governors of the Federal Reserve System and published by . This book was released on 2002 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Provides an in-depth overview of the Federal Reserve System, including information about monetary policy and the economy, the Federal Reserve in the international sphere, supervision and regulation, consumer and community affairs and services offered by Reserve Banks. Contains several appendixes, including a brief explanation of Federal Reserve regulations, a glossary of terms, and a list of additional publications.
Book Synopsis Monetary and Credit Aggregates and Economic Activity by : Shafiqul Islam
Download or read book Monetary and Credit Aggregates and Economic Activity written by Shafiqul Islam and published by . This book was released on 1982 with total page 70 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Credit Aggregates and Monetary Policy by : Mark Alan Kinsey
Download or read book Credit Aggregates and Monetary Policy written by Mark Alan Kinsey and published by . This book was released on 1986 with total page 432 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Monetary Policy and Economic Activity in West Germany by : Stephen F. Frowen
Download or read book Monetary Policy and Economic Activity in West Germany written by Stephen F. Frowen and published by . This book was released on 1977 with total page 298 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Credit Growth, Monetary Policy, and Economic Activity in a Three-regime TVAR Model by : Stefan Avdjiev
Download or read book Credit Growth, Monetary Policy, and Economic Activity in a Three-regime TVAR Model written by Stefan Avdjiev and published by . This book was released on 2014 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt: "The authors employ a threshold vector autoregression (TVAR) methodology in order to examine the nonlinear nature of the interactions among credit market conditions, monetary policy, and economic activity. They depart from the existing literature on the subject along two dimensions. First, they focus on a model in which the relevant threshold variable describes the state of economic activity rather than credit market conditions. Second, in contrast to the existing TVAR literature, which concentrates exclusively on single-threshold models, they allow for the presence of a second threshold, which is overwhelmingly supported by all relevant statistical tests. The results indicate that the dynamics of the interactions among credit market conditions, monetary policy and economic activity change considerably as the economy moves from one phase of the business cycle to another and that single-threshold TVAR models are too restrictive to fully capture the nonlinear nature of those interactions. The impact of most shocks tends to be largest during periods of sub-par economic growth and smallest during times of moderate economic activity. By contrast, credit risk shocks have the largest impact when output growth is considerably above it long-term trend."--Abstract.
Book Synopsis Debt and Economic Activity in the United States by : Benjamin M. Friedman
Download or read book Debt and Economic Activity in the United States written by Benjamin M. Friedman and published by . This book was released on 1981 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper documents a long-standing stability in the relationship between outstanding debt and economic activity in the United States, and explores the implications for capital formation of several hypotheses that could explain this observed phenomenon. The aggregate of outstanding credit liabilities of all nonfinancial borrowers in the United States bears as close a relationship to U.S. non- financial economic activity as do the more familiar asset aggregates like the money stock (however measured) or the monetary base. This stability in the debt-to-income relationship reflects the net outcome of pronounced but offsetting movements of the public and private components of the total debt aggregate. Three different hypotheses provide potential explanations for this phenomenon. Two of these, one emphasizing taxpayers' actions and one based on credit market borrowing constraints, carry the implication that increases in government debt outstanding associated with financing budget deficits crowd out private financing and hence private capital formation. The third hypothesis, which emphasizes the portfolio preferences of lenders, implies that increased government financing will not crowd out private capital formation but will cause the private sector to shift from debt to equity financing
Book Synopsis A Note on Learning in a Credit Economy by : Pei Kuang
Download or read book A Note on Learning in a Credit Economy written by Pei Kuang and published by . This book was released on 2014 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
