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What Drives Household Borrowing and Credit Constraints? Evidence from Bosnia and Herzegovina

What Drives Household Borrowing and Credit Constraints? Evidence from Bosnia and Herzegovina »

Source: What Drives Household Borrowing and Credit Constraints? Evidence from Bosnia and Herzegovina

Volume/Issue: 2008/202

Series: IMF Working Papers

Author(s): Ke Chen Chen , and Mali Chivakul

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 2008

ISBN: 9781451870602

Keywords: household debt, credit constraints, probability, credit market, credit constraint, equation, Bosnia, Herzegovina,

Although Bosnia and Herzegovina (BiH) has experienced rapid growth in credit to households in recent years, most individuals are still credit constrained. This paper analyzes the determinants of household credit de...

The Short-Term Impact of Product Market Reforms

The Short-Term Impact of Product Market Reforms »

Source: The Short-Term Impact of Product Market Reforms : A cross-country firm-level analysis

Volume/Issue: 2016/116

Series: IMF Working Papers

Author(s): Peter Gal , and Alexander Hijzen

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 10 June 2016

ISBN: 9781475516852

Keywords: structural reform, competition, credit constraints, firm entry, Orbis

This paper analyzes the effects of product market reforms in the short and medium term across 10 regulated industries and 18 advanced economies for the period 1998-2013 using internationally comparable firm-level d...

Costly Collateral and the Public Supply of Liquidity

Costly Collateral and the Public Supply of Liquidity »

Source: Costly Collateral and the Public Supply of Liquidity

Volume/Issue: 2000/125

Series: IMF Working Papers

Author(s): Philip Schellekens

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2000

ISBN: 9781451854817

Keywords: Debt Finance, Collateral, Credit Constraints, Asset Price Volatility, entrepreneur, entrepreneurs

This paper addresses two complications arising from the use of collateral requirements in debt contracts between wealth-constrained entrepreneurs and banks. First, costly asset liquidation is found to enhance the s...

What Drives Household Borrowing and Credit Constraints? Evidence from Bosnia and Herzegovina

What Drives Household Borrowing and Credit Constraints? Evidence from Bosnia and Herzegovina »

Volume/Issue: 2008/202

Series: IMF Working Papers

Author(s): Ke Chen Chen , and Mali Chivakul

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 2008

DOI: http://dx.doi.org/10.5089/9781451870602.001

ISBN: 9781451870602

Keywords: household debt, credit constraints, probability, credit market, credit constraint, equation, Bosnia, Herzegovina,

Although Bosnia and Herzegovina (BiH) has experienced rapid growth in credit to households in recent years, most individuals are still credit constrained. This paper analyzes the determinants of household credit de...

Credit Constraints, Political Instability, and Capital Accumulation

Credit Constraints, Political Instability, and Capital Accumulation »

Source: Credit Constraints, Political Instability, and Capital Accumulation

Volume/Issue: 2013/246

Series: IMF Working Papers

Author(s): Risto Herrala , and Rima Turk Ariss

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 16 December 2013

ISBN: 9781484303085

Keywords: credit constraints, political unrest, MENA countries, equity capital, real interest rate, equity ratio, capital goods, General,

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 un...

Precautionary Demand for Foreign Assets in Sudden Stop Economies

Precautionary Demand for Foreign Assets in Sudden Stop Economies »

Source: Precautionary Demand for Foreign Assets in Sudden Stop Economies : An Assessment of the New Merchantilism

Volume/Issue: 2007/146

Series: IMF Working Papers

Author(s): Enrique Mendoza , Ceyhun Bora Durdu , and Marco Terrones

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2007

ISBN: 9781451867107

Keywords: Fisherian Deflation, Liability Dollarization, Credit Constraints, foreign assets, financial globalization, foreign asset, net foreign assets,

Financial globalization was off to a rocky start in emerging economies hit by Sudden Stops in the 1990s. The surge in foreign reserves since then is viewed as a New Merchantilism in which reserves are a war-chest f...

Fiscal Policy Through Time-Varying Tax Rates

Fiscal Policy Through Time-Varying Tax Rates »

Source: Fiscal Policy Through Time-Varying Tax Rates : If and How

Volume/Issue: 2000/170

Series: IMF Working Papers

Author(s): Martin Kaufman

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 2000

ISBN: 9781451858419

Keywords: Counter-cyclical fiscal policy, credit constraint, hyperbolic discounting, tax rate, labor income

This paper investigates if there are circumstances where time-varying tax rates could improve welfare and whether such policy can effectively be implemented in practice. While, in principle, variable taxes could im...

The Short-Term Impact of Product Market Reforms
			: A cross-country firm-level analysis

The Short-Term Impact of Product Market Reforms : A cross-country firm-level analysis »

Volume/Issue: 2016/116

Series: IMF Working Papers

Author(s): Peter Gal , and Alexander Hijzen

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 10 June 2016

DOI: http://dx.doi.org/10.5089/9781475516852.001

ISBN: 9781475516852

Keywords: structural reform, competition, credit constraints, firm entry, Orbis

This paper analyzes the effects of product market reforms in the short and medium term across 10 regulated industries and 18 advanced economies for the period 1998-2013 using internationally comparable firm-level d...

Costly Collateral and the Public Supply of Liquidity

Costly Collateral and the Public Supply of Liquidity »

Volume/Issue: 2000/125

Series: IMF Working Papers

Author(s): Philip Schellekens

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2000

DOI: http://dx.doi.org/10.5089/9781451854817.001

ISBN: 9781451854817

Keywords: Debt Finance, Collateral, Credit Constraints, Asset Price Volatility, entrepreneur, entrepreneurs

This paper addresses two complications arising from the use of collateral requirements in debt contracts between wealth-constrained entrepreneurs and banks. First, costly asset liquidation is found to enhance the s...

Managing Credit Bubbles

Managing Credit Bubbles »

Source: Managing Credit Bubbles

Volume/Issue: 2014/95

Series: IMF Working Papers

Author(s): Alberto Martin , and Jaume Ventura

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 09 June 2014

ISBN: 9781498307666

Keywords: rollover crises, secondary markets, crowding, capital stock, capital income, credit constraint, credit market, International Lending and Debt Problems, Financial Aspects of Economic Integration, Open Economy Macroeconomics

We study a dynamic economy where credit is limited by insufficient collateral and, as a result, investment and output are too low. In this environment, changes in investor sentiment or market expectations can give...