Arbeitspapier
An endogenous growth model of money, banking, and financial repression
In this paper, we develop an endogenous growth model with financial intermediation to examine the effects of financial repression on growth, inflation, and welfare. By limiting the liquidity provision, binding reserve requirements always suppress economic growth while their effect on inflation is a function, among other things, of the degree of repression. For example, contrary to previous claims, if financial repression is severe enough so that an informal financial sector emerges, liberalization is inflationary. Notwithstanding, liberalization in these cases is always welfare improving. Finally, we characterize the condition that gives rise to a unique optimal level of binding reserve requirements, i.e., the optimal degree of "moderate" financial repression.
- Sprache
-
Englisch
- Erschienen in
-
Series: Working Paper ; No. 96-4
- Klassifikation
-
Wirtschaft
- Thema
-
Financial markets
Money theory
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Espinosa, Marco
Yip, Chong K.
- Ereignis
-
Veröffentlichung
- (wer)
-
Federal Reserve Bank of Atlanta
- (wo)
-
Atlanta, GA
- (wann)
-
1996
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:41 MEZ
Datenpartner
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Espinosa, Marco
- Yip, Chong K.
- Federal Reserve Bank of Atlanta
Entstanden
- 1996
Ähnliche Objekte (12)
Money, banking and financial markets
The decline of traditional banking and endogenous money
Endogenous Money in the Age of Financial Liberalization
Endogenous money: on banking behaviour in new and post Keynesian models
Minsky on banking: Early work on endogenous money and the prudent banker
Banking, Inside Money and Outside Money
Money, credit and banking and the cost of financial activity
Money, credit and banking
Endogenous money: Structuralist and horizontalist
Evolution of money, banking and financial crisis : history, theory and policy
Good-Bye Financial Repression, Hello Financial Crash
Financial Repression in General Equilibrium
Money, banking and financial markets
The decline of traditional banking and endogenous money
Endogenous Money in the Age of Financial Liberalization
Endogenous money: on banking behaviour in new and post Keynesian models
Minsky on banking: Early work on endogenous money and the prudent banker
Banking, Inside Money and Outside Money
Money, credit and banking and the cost of financial activity
Money, credit and banking
Endogenous money: Structuralist and horizontalist
Evolution of money, banking and financial crisis : history, theory and policy
Good-Bye Financial Repression, Hello Financial Crash
Financial Repression in General Equilibrium
Money, banking and financial markets
The decline of traditional banking and endogenous money
Endogenous Money in the Age of Financial Liberalization
Endogenous money: on banking behaviour in new and post Keynesian models
Minsky on banking: Early work on endogenous money and the prudent banker
Banking, Inside Money and Outside Money
Money, credit and banking and the cost of financial activity
Money, credit and banking
Endogenous money: Structuralist and horizontalist
Evolution of money, banking and financial crisis : history, theory and policy
Good-Bye Financial Repression, Hello Financial Crash