Creditor rights, monetary policy, financial crisis, and trade credit
نویسندگان
چکیده
منابع مشابه
Monetary policy in a financial crisis
What are the economic effects of an interest rate cut when an economy is in the midst of a financial crisis? Under what conditions will a cut stimulate output and employment, and raise welfare? Under what conditions will a cut have the opposite effects? We answer these questions in a general class of open economy models, where a financial crisis is modelled as a time when collateral constraints...
متن کاملMonetary Policy, Fiscal Policy, and the Efficiency of Our Financial System: Lessons from the Financial Crisis
I am enormously grateful to Rich Clarida and Jeff Fuhrer for their kind and thoughtful initiative, first in conceiving the idea for this conference and then in organizing it so successfully; to Eric Rosengren and the Federal Reserve Bank of Boston for the marvelous hospitality we have all enjoyed these past two days; to the many fine economists who devoted their valuable time to writing papers ...
متن کاملCreditor Rights, Enforcement and the Access to Credit
A large and growing literature has demonstrated in recent years how deep and efficient financial markets help to foster economic growth, by promoting investment and productivity growth (e.g., Rajan and Zingales, 1998). Through their role in selecting and monitoring projects, diversifying risks, and allowing investment and production to be carried out in the most productive scale and time frame,...
متن کاملFederal Reserve Bank of Dallas Globalization and Monetary Policy Institute Credit Risks and Monetary Policy Trade-off's
Financial frictions and financial shocks can affect the trade-off between inflation stabilization and output-gap stabilization faced by a central bank. Financial frictions lead to a greater response in output following any deviation of inflation from target and thus lead to an increase in the sacrifice ratio. As a result, optimal monetary policy in the face of credit frictions is to allow great...
متن کاملTrade, Unemployment, and Monetary Policy
We study the effects of trade integration for the conduct of monetary policy in a two-country model with heterogeneous firms, endogenous producer entry, and labor market frictions. The model reproduces important empirical regularities related to international trade, namely synchronization of business cycles across trading partners and reallocation of market shares across producers. Three key re...
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ژورنال
عنوان ژورنال: BRQ Business Research Quarterly
سال: 2021
ISSN: 2340-9444,2340-9444
DOI: 10.1177/2340944420988294