The primary objective of this paper is to investigate the interaction of formal and informal nancial markets and their impact on economic activity in quasi-emerging market economies (QEMEs). Using a four-sector dynamic stochastic general equilib-rium (DSGE) model, we demonstrate that formal and informal \u85nancial sector loans are complementary in the aggregate, suggesting that an increase in the use of formal nancial sector (FFS) credit creates additional productive capacity that requires more informal nancial sector (IFS) credit to maintain equilibrium. Our model also demon-strates that the response of FFS loans to a positive production technology shock is sensitive to the rate of success for high risk borrowers while the response of IFS...
A vast literature has focused on what causes businesses to move into informality and what is the imp...
A standard view holds that removing barriers to entry and improving judicial enforcement would reduc...
This paper examines whether the presence of informal credit markets reduces the cost of credit ratio...
The primary objective of this paper is to investigate the interaction of formal and informal nancial...
This paper reviews the literature on the informal economy, focusing first on empirical findings and ...
This paper reviews the literature on the informal economy, focusing first on empirical findings and ...
This paper reviews the literature on the informal economy, focusing first on empirical findings and ...
How does informality in emerging economies affect the conduct of monetary and fiscal policy? To answ...
How does informality in emerging economies affect the conduct of monetary policy? To answer this que...
How does informality in emerging economies affect the conduct of monetary policy? To answer this que...
This study expanded the hitherto DSGE model with bank intermediation to include informal credit inte...
The standard view suggests that removing barriers to entry and improving judicial enforcement reduce...
The paper develops a fully-microfounded DGE model for a small open economy subject to frictions in t...
We build a model of firms ’ choice between formality and informal-ity. Complying with costly registr...
This paper makes a pioneering attempt to provide a theory of determination of interest rate in the i...
A vast literature has focused on what causes businesses to move into informality and what is the imp...
A standard view holds that removing barriers to entry and improving judicial enforcement would reduc...
This paper examines whether the presence of informal credit markets reduces the cost of credit ratio...
The primary objective of this paper is to investigate the interaction of formal and informal nancial...
This paper reviews the literature on the informal economy, focusing first on empirical findings and ...
This paper reviews the literature on the informal economy, focusing first on empirical findings and ...
This paper reviews the literature on the informal economy, focusing first on empirical findings and ...
How does informality in emerging economies affect the conduct of monetary and fiscal policy? To answ...
How does informality in emerging economies affect the conduct of monetary policy? To answer this que...
How does informality in emerging economies affect the conduct of monetary policy? To answer this que...
This study expanded the hitherto DSGE model with bank intermediation to include informal credit inte...
The standard view suggests that removing barriers to entry and improving judicial enforcement reduce...
The paper develops a fully-microfounded DGE model for a small open economy subject to frictions in t...
We build a model of firms ’ choice between formality and informal-ity. Complying with costly registr...
This paper makes a pioneering attempt to provide a theory of determination of interest rate in the i...
A vast literature has focused on what causes businesses to move into informality and what is the imp...
A standard view holds that removing barriers to entry and improving judicial enforcement would reduc...
This paper examines whether the presence of informal credit markets reduces the cost of credit ratio...