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Liquidity Choice and Misallocation of Credit

Liquidity Choice and Misallocation of Credit »

Source: Liquidity Choice and Misallocation of Credit

Volume/Issue: 2019/284

Series: IMF Working Papers

Author(s): Ehsan Ebrahimy

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 20 December 2019

ISBN: 9781513521480

Keywords: Real sector, Negative interest rates, Positive interest rates, Interest rate increases, Interest rates, WP, financial development, competitive equilibrium, liquid equilibrium, Tirole

This paper studies a novel type of misallocation of credit between investments of varying liquidity. One type of investment is more liquid, i.e., its return is more pledgeable, and the other is more productive. Low...

The Drivers, Implications and Outlook for China's Shrinking Current Account Surplus1

The Drivers, Implications and Outlook for China's Shrinking Current Account Surplus1 »

Source: The Drivers, Implications and Outlook for China's Shrinking Current Account Surplus

Volume/Issue: 2019/244

Series: IMF Working Papers

Author(s): Pragyan Deb , Albe Gjonbalaj , and Swarnali Hannan

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 08 November 2019

ISBN: 9781513516097

Keywords: Accounting, Aging, Assets, Balance of trade, Bank deposits, Bilateral trade, Bonds, Capital, Capital account, Capital flows

China's current account surplus has declined significantly from its peak in 2008 and the external position in 2018 was in line with medium-term fundamentals and desirable policies. While cyclical factors and expans...

Liquidity Choice and Misallocation of Credit

Liquidity Choice and Misallocation of Credit »

Volume/Issue: 2019/284

Series: IMF Working Papers

Author(s): Ehsan Ebrahimy

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 20 December 2019

DOI: http://dx.doi.org/10.5089/9781513521480.001

ISBN: 9781513521480

Keywords: Real sector, Negative interest rates, Positive interest rates, Interest rate increases, Interest rates, WP, financial development, competitive equilibrium, liquid equilibrium, Tirole

This paper studies a novel type of misallocation of credit between investments of varying liquidity. One type of investment is more liquid, i.e., its return is more pledgeable, and the other is more productive. Low...

The Drivers, Implications and Outlook for China's Shrinking Current Account Surplus

The Drivers, Implications and Outlook for China's Shrinking Current Account Surplus »

Volume/Issue: 2019/244

Series: IMF Working Papers

Author(s): Pragyan Deb , Albe Gjonbalaj , and Swarnali Hannan

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 08 November 2019

DOI: http://dx.doi.org/10.5089/9781513516097.001

ISBN: 9781513516097

Keywords: Accounting, Aging, Assets, Balance of trade, Bank deposits, Bilateral trade, Bonds, Capital, Capital account, Capital flows

China's current account surplus has declined significantly from its peak in 2008 and the external position in 2018 was in line with medium-term fundamentals and desirable policies. While cyclical factors and expans...