Download or read book A General Equilibrium Model with Informal Financial Markets written by International Monetary Fund and published by International Monetary Fund. This book was released on 1991-02-01 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: The paper presents a general equilibrium framework for short-run macroeconomic analysis in a developing country context where controls on interest rates and foreign exchange restrictions lead to the emergence of informal financial markets. The complexity of the model precludes an analytical treatment. A simulation approach, based on parameters derived from estimates in the existing literature, is used to assess the properties of the model, which differ in important ways from those of standard open-economy models.

Download or read book A general equilibrium model with informal financial markets written by Pierre-Richard; Haque Agénor (Nadeem U.; Montiel, Peter J.) and published by . This book was released on 2004 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book General equilibrium model with informal financial markets written by Pierre-Richard Agénor and published by . This book was released on 1991 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book A General Equilibrium Model with Informal Financial Markets written by Pierre-Richard Agenor and published by . This book was released on 2006 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: The paper presents a general equilibrium framework for short-run macroeconomic analysis in a developing country context where controls on interest rates and foreign exchange restrictions lead to the emergence of informal financial markets. The complexity of the model precludes an analytical treatment. A simulation approach, based on parameters derived from estimates in the existing literature, is used to assess the properties of the model, which differ in important ways from those of standard open-economy models.

Download or read book A General Equilibrium Modeling with Informal Financial Markets written by Pierre-Richard Agenor and published by . This book was released on 1991 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book General Equilibrium Foundations of Finance written by Thorsten Hens and published by Springer Science & Business Media. This book was released on 2002 with total page 336 pages. Available in PDF, EPUB and Kindle. Book excerpt: The purpose of General Equilibrium Foundations of Finance is to give a sound economic foundation of finance based on the general equilibrium model with incomplete markets which embodies the famous CAPM as an important special case. This goal is achieved by giving reasonable restrictions on the agents' characteristics that lead to a well determined financial markets model having a unique competitive equilibrium. The innovation of this book is to transfer and to extend the theoretical results on the structure of competitive equilibria into the modern context of incomplete financial markets. General Equilibrium Foundations of Finance should be easily accessible by advanced Ph.D. students as well as by theorists of any subfield of mathematical economics. It should be interesting both for theorists who are looking for possible applications of rigorous theorizing as well as for practitioners who seek for a theoretical foundation of fruitful applications of financial markets' models.

Download or read book Informal Labour and Credit Markets written by Nicoletta Batini and published by International Monetary Fund. This book was released on 2010-02-01 with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper reviews the literature on the informal economy, focusing first on empirical findings and then on existing approaches to modeling informality within both partial and general equilibrium environments. We concentrate on labour and credit markets, since these tend to be most affected by informality. The phenomenon is particularly important in emerging and other developing economies, given their high degrees of informal labour and financial services and the implications these have for the effectiveness of macroeconomic policy. We emphasize the need for dynamic general equilibrium (DGE) and ultimately dynamic stochastic general equilibrium (DSGE) models for a full understanding of the costs, benefits and policy implications of informality. The survey shows that the literature on informality is quite patchy, and that there are several unexplored areas left for research.

Download or read book Financial Frictions and Firm Informality A General Equilibrium Perspective written by Luis Franjo and published by INTERNATIONAL MONETARY FUND. This book was released on 2020-09-25 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper we build a model of occupational choice with informal production and progressive income taxation. We calibrate the model to the Brazilian economy to evaluate the impact of removing financial frictions on informality. We find that financial deepening leads to a drop in the size of the informal sector (from 37 percent to 22 percent of official GDP), to an increase in measured TFP (by 4 percent), to an increase in official GDP (by 27 percent), to a decrease in tax evasion (by 17 percent) and to an increase in fiscal revenues (by 15 percent). When assessing the response of this policy at different levels of financial development, we find a non-linear relationship between the credit-to-GDP ratio on the one hand, and either the size of the informal economy, or GDP per capita on the other hand. We test these features with cross-country data and find evidence in favor of both types of non-linearity. We also investigate changes in the income tax progressitivity as an alternative policy and find it to be more effective in countries with a medium to high level of financial markets development.

Download or read book Imperfect information and financial markets written by Corrado Benassi and published by . This book was released on 1989 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Revisiting the Informal Sector written by Sarbajit Chaudhuri and published by Springer Science & Business Media. This book was released on 2009-10-15 with total page 246 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides insight into the diverse aspects of the informal sector, its role in the context of unemployment, child labor, globalization and environment, as well as its multi-faceted interaction with the other sectors of the economy.

Download or read book Three Essays on General Equilibrium Models with Imperfect Financial Markets written by Marcos de Barros Lisboa and published by . This book was released on 1996 with total page 244 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book A General Equilibrium Model of Sovereign Default and Business Cycles written by Vivian Z. Yue and published by International Monetary Fund. This book was released on 2011-07-01 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: Emerging markets business cycle models treat default risk as part of an exogenous interest rate on working capital, while sovereign default models treat income fluctuations as an exogenous endowment process with ad-noc default costs. We propose instead a general equilibrium model of both sovereign default and business cycles. In the model, some imported inputs require working capital financing; default on public and private obligations occurs simultaneously. The model explains several features of cyclical dynamics around default triggers an efficiency loss as these inputs are replaced by imperfect substitutes; and default on public and private obligations occurs simultaneously. The model explains several features of cyclical dynamics around deraults, countercyclical spreads, high debt ratios, and key business cycle moments.

Download or read book Essays on General Equilibrium Models with Imperfest Financial Markets written by Paolo Siconolfi and published by . This book was released on 1987 with total page 112 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Two sector Model of General Equilibrium written by Harry Gordon Johnson and published by . This book was released on 1971 with total page 126 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book General Equilibrium of Financial Markets written by Monique Florenzano and published by . This book was released on 1999 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book General Equilibrium Theory with Asymmetric Information and Incomplete Financial Markets written by Lionel Jean De Boisdeffre and published by . This book was released on 2003 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Indeterminacy in General Equilibrium Economies with Incomplete Financial Markets written by Tito Pietra and published by . This book was released on 1989 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: