The aim of this paper is to provide an analysis of the impact of investment in health-policies
on economic development. In order to do this, it is vital to bear in mind the fact that long-term …

Many have argued that private provision of close currency substitutes may lead to large
scale indeterminacies and excessive economic fluctuations. Others argue that money …

Aggregate productivity falls in recessions and rises in expansions. Several empirical studies
suggest that the systematic behavior of lending standards, with laxer (tighter) standards …

Credit market imperfections typically characterize a low quality financial market, where the
quality of information about borrowers is low and/or enforcement rules or institutions are not …

A linear null relationship between nominal returns and inflation is tested against threshold
alternatives using quarterly and monthly data for 39 different countries. These tests …

This paper constructs a simple overlapping generations (OLG) model with the working and
capitalist classes and two types of production technologies. The behavior of agents …

We consider a family of one-dimensional continuous piecewise smooth maps with
monotone increasing and monotone decreasing branches. It is associated with a credit cycle …

Endogenous cycles emerge through the two-way interaction between lending standards and
production fundamentals. Lax lending standards in booms lead to low interest rates and …

This paper analyzes the asymmetric effects of monetary policy shocks during low and high
financial stress regimes in India. We explore the asymmetric effects through various …

This paper examines, using small-scale vector autoregression models, the extent to which
monetary policy shocks have asymmetric effects on the cyclical component of output …