The macroeconomics of financial crises: how risk premiums and liquidity traps affect policy options... In addition to demonstrating how the emergence of risk premiums in money and capital markets can generate liquidity traps at positive interest rates and may drive economies into recessions, it shows the following: (1) Fiscal policy works even in a small, open economy under flexible exchange rates when the country is stuck in a liquidity trap; (2) Near the fringe of liquidity traps, there may be perfect traps, in which neither monetary nor fiscal policy works when used in isolation but policy coordination is called for; and (3) Massive financial crises in the domestic money market may even destabilize the econom
Macroeconomic shocks and international trade: empirical findings for switzerland... The estimated dynamicresponses of output, net exports, the real interest rate, and the price level to four kinds of disturbances: shocks to aggregate supply, the terms of trade, domestic fiscal policy, and the domestic money market are as expected....
Bank behavior in developing countries...system.Banks;East Africa;Banking systems;Developing countries;Economic reforms;banking, international banks, financial sector, financial system, foreign exchange, financial systems, banking system, financial institutions, financial intermediation, banking sector, bank behavior, banking services, financial services, national bank, return on assets, financial sector development, banking sectors, bank groups, reserve requirements, financial sector liberalization, financial repression, bank policy, financial liberalization, financial markets, disintermediation, bonds, bank branches, banking markets, country comparison, discount rate, bank entry, hedges, domestic financial intermediation, international financial markets, banking industry, banking supervision, bank of tanzania, bank accounts, banking assets, bank lending, bank depository institutions, bank deposits, international standards, international money markets, bank data, financial fragility, interest rate controls, bank soundness, banks ? balance sheets, resource allocation, bank accounting, deposit rates, money market, money markets, deposit rate, financial reform, financial reforms, domestic money market, financial structure, currency risk
