Long-Run and Short-Run Effects of Money Injections
... Berentsen, Camera, and Waller (2005) generalize the Lagos-Wright model by assuming two rounds of trade before agents can readjust their money holdings. This assumption generates a non-degenerate distribution of money holdings at the start of the second decentralized market. In contrast to our enviro ...
... Berentsen, Camera, and Waller (2005) generalize the Lagos-Wright model by assuming two rounds of trade before agents can readjust their money holdings. This assumption generates a non-degenerate distribution of money holdings at the start of the second decentralized market. In contrast to our enviro ...
macroeconomics of microfinance: how do the channels - Cerge-Ei
... The aim of the paper is to unveil the impact of microfinance on the broader economy through the identification of transfer channels and the extent to which it affects the market structure of the financial sector. The research agenda is of acute importance given the rapid expansion of microfinance an ...
... The aim of the paper is to unveil the impact of microfinance on the broader economy through the identification of transfer channels and the extent to which it affects the market structure of the financial sector. The research agenda is of acute importance given the rapid expansion of microfinance an ...
Zambia: Condemned to debt
... only document that defines conditionality. Zambia cannot access the HIPC initiative unless its government has negotiated a ‘Decision Point’ document with the IMF and World Bank and has agreed a ‘Letter of Intent’ for an IMF PRGF programme. The undemocratic imposition of policies on Zambia has also u ...
... only document that defines conditionality. Zambia cannot access the HIPC initiative unless its government has negotiated a ‘Decision Point’ document with the IMF and World Bank and has agreed a ‘Letter of Intent’ for an IMF PRGF programme. The undemocratic imposition of policies on Zambia has also u ...
161128 APS 210 FINAL clean
... securitisation and meets the operational requirements for regulatory capital relief under Prudential Standard APS 120 Securitisation (APS 120), the ADI may exclude the assets and liabilities of the relevant special purpose vehicles (SPVs) from the calculation of its minimum liquidity holdings (MLH) ...
... securitisation and meets the operational requirements for regulatory capital relief under Prudential Standard APS 120 Securitisation (APS 120), the ADI may exclude the assets and liabilities of the relevant special purpose vehicles (SPVs) from the calculation of its minimum liquidity holdings (MLH) ...
Monetary Policy, Imperfect Information and the Expectations Channel
... on the policies and strategies the central bank may implement to make monetary policymaking more effective. The long-run money neutrality follows the simple mechanism of classical economics according to which money has only nominal effects (on prices and wages). Two kinds of imperfections have been ...
... on the policies and strategies the central bank may implement to make monetary policymaking more effective. The long-run money neutrality follows the simple mechanism of classical economics according to which money has only nominal effects (on prices and wages). Two kinds of imperfections have been ...
Monetary Analysis: Tools and Applications
... and the price level. Monetary developments may be subject to a host of special influences and distortions which render the relationship between money and prices complex in the short run. Extracting the stable long-run relationship – say between euro area M3 and the euro area price level – from short ...
... and the price level. Monetary developments may be subject to a host of special influences and distortions which render the relationship between money and prices complex in the short run. Extracting the stable long-run relationship – say between euro area M3 and the euro area price level – from short ...
Price Level Targeting - The Market Monetarist
... is limited. Finally, the implications, when the price level targeting policy lacks credibility, are investigated. It turns out, that even though it may involve some transitional costs adopting a price level target because the private sector rst has to learn about the policy, it is still optimal in ...
... is limited. Finally, the implications, when the price level targeting policy lacks credibility, are investigated. It turns out, that even though it may involve some transitional costs adopting a price level target because the private sector rst has to learn about the policy, it is still optimal in ...
Amendments to the Capital Framework for Securitisation Exposures
... in relation to the AMA where a Reporting Bank is a subsidiary of a banking institution incorporated outside Singapore, means the methodology used by the Reporting Bank to determine its operational risk capital based on an allocation of the operational risk capital of the banking institution incorpor ...
... in relation to the AMA where a Reporting Bank is a subsidiary of a banking institution incorporated outside Singapore, means the methodology used by the Reporting Bank to determine its operational risk capital based on an allocation of the operational risk capital of the banking institution incorpor ...
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... Ibn Abbas is reported to have said: the Prophet peace be upon him has came to Medina and found that people were selling dates for deferred delivery after a duration of one or two years on a Salam basis. The Prophet peace be upon him said: whoever pays for dates on a deferred delivery basis (salam) s ...
... Ibn Abbas is reported to have said: the Prophet peace be upon him has came to Medina and found that people were selling dates for deferred delivery after a duration of one or two years on a Salam basis. The Prophet peace be upon him said: whoever pays for dates on a deferred delivery basis (salam) s ...
Banking Industry Private Banking Specification of
... The industry has made significant steps forward. In view of the distinct nature of the clientele and operations of private banking businesses, the Hong Kong Monetary Authority (HKMA) issued a circular in 2012 4 to provide further clarification to private banks on the regulatory requirements governin ...
... The industry has made significant steps forward. In view of the distinct nature of the clientele and operations of private banking businesses, the Hong Kong Monetary Authority (HKMA) issued a circular in 2012 4 to provide further clarification to private banks on the regulatory requirements governin ...
GCC listed banks results report for the year ended 31
... 1 (AT1) capital) for the current and previous year ends. The coupon on any AT1 instrument is excluded from net profit. — Return on asset (ROA) is the ratio of net profit attributable to shareholders of the bank to average assets, where average assets are calculated by halving the sum of total assets ...
... 1 (AT1) capital) for the current and previous year ends. The coupon on any AT1 instrument is excluded from net profit. — Return on asset (ROA) is the ratio of net profit attributable to shareholders of the bank to average assets, where average assets are calculated by halving the sum of total assets ...
The Optimal Level of International Reserves For Emerging Market
... anticipation of crises with an output cost of unprecedented size. Our paper contributes to a long line of literature on reserves adequacy. The …rst costbene…t analyses of the optimal level of reserves were developed in the 1960s and the 1970s, when the focus was mainly on the current account (Helle ...
... anticipation of crises with an output cost of unprecedented size. Our paper contributes to a long line of literature on reserves adequacy. The …rst costbene…t analyses of the optimal level of reserves were developed in the 1960s and the 1970s, when the focus was mainly on the current account (Helle ...
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... instability of the relationship between monetary aggregates and goal variables such as inflation (or nominal income) meant that this strategy was doomed to failure and indeed was not pursued seriously because to do so would have been a mistake. By the early 1980s, it was becoming very clear that th ...
... instability of the relationship between monetary aggregates and goal variables such as inflation (or nominal income) meant that this strategy was doomed to failure and indeed was not pursued seriously because to do so would have been a mistake. By the early 1980s, it was becoming very clear that th ...
Monetary Effervescence - Digital Commons @ DU
... There are numerous people who deserve acknowledgment. My doctoral advisor, Ted Vial, has been generous with his time and insight and has provided honest and graceful feedback throughout this project and the larger program. My master’s advisor, LeRon Shults, while not being involved with this project ...
... There are numerous people who deserve acknowledgment. My doctoral advisor, Ted Vial, has been generous with his time and insight and has provided honest and graceful feedback throughout this project and the larger program. My master’s advisor, LeRon Shults, while not being involved with this project ...
Banco do Brasil S.A. U.S.$1,000,000,000 Global Medium
... Under the global medium-term note program (the “Program”) Banco do Brasil S.A. (“Banco do Brasil” or the “Bank”) (whether acting through its head office or through a specified branch outside Brazil) or the Bank acting jointly and severally with any one of its designated subsidiaries named herein or ...
... Under the global medium-term note program (the “Program”) Banco do Brasil S.A. (“Banco do Brasil” or the “Bank”) (whether acting through its head office or through a specified branch outside Brazil) or the Bank acting jointly and severally with any one of its designated subsidiaries named herein or ...
Money and Costly Credit
... three features observed in an economy with money and credit: …rst, money and credit coexist as means of payment; second, the choice of using money or credit is endogenous; and third, the settlement of credit requires money. Several recent papers have attempted to construct models with both money and ...
... three features observed in an economy with money and credit: …rst, money and credit coexist as means of payment; second, the choice of using money or credit is endogenous; and third, the settlement of credit requires money. Several recent papers have attempted to construct models with both money and ...
The Internal Ratings-Based Approach
... (iii) Methods for quantifying PD .................................................................................................. 16 (iv) Impact of credit derivatives and guarantees on estimation of PD ........................................ 16 C. LOSS GIVEN DEFAULT (LGD) ........................ ...
... (iii) Methods for quantifying PD .................................................................................................. 16 (iv) Impact of credit derivatives and guarantees on estimation of PD ........................................ 16 C. LOSS GIVEN DEFAULT (LGD) ........................ ...
Money and the Transmission Mechanism in the Optimizing IS
... economics libraries, contains many discussions of IS-LM relevant to this paper. In addition, in discussing the monetarist criticism of IS-LM, I make use of Karl Brunner’s position papers over 1973−1987 for the Shadow Open Market Committee, many of which were never reprinted in journals or collection ...
... economics libraries, contains many discussions of IS-LM relevant to this paper. In addition, in discussing the monetarist criticism of IS-LM, I make use of Karl Brunner’s position papers over 1973−1987 for the Shadow Open Market Committee, many of which were never reprinted in journals or collection ...
Fiscal and Financial Crises*
... financial sector safety net) were banking panics--attempts by the public to convert their deposits into currency en masse. Unless resolved by lender of last resort actions, banking panics could seriously impact the real economy by reducing the money supply (Friedman and Schwartz, 1963) and by reduci ...
... financial sector safety net) were banking panics--attempts by the public to convert their deposits into currency en masse. Unless resolved by lender of last resort actions, banking panics could seriously impact the real economy by reducing the money supply (Friedman and Schwartz, 1963) and by reduci ...