Hidden Bibliographic Details
| Other authors / contributors: | International Monetary Fund. Western Hemisphere Department, issuing body.
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| ISBN: | 1283565811
9781283565813
9781463992781
1463992785
9781463927196
1463927193
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| Notes: | At head of title: Western Hemisphere Department.
Title from PDF title page (IMF Web site, viewed December 8, 2011).
"December 2011."
Includes bibliographical references.
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| Summary: | Emerging markets are particularly vulnerable to boom-bust credit cycles, due to excessive capital flows, shallow equity markets, and companies' high leverage and open FX positions. While the policy debate on how to respond to boom-bust credit cycles remains unsettled, it has been conjectured that credit subsidies may provide a particularly effective policy tool to counter a credit bust. This paper reports on a rare policy experiment where credit subsidies were used to buffer the impact of the global financial crisis on Serbia in 2009. Model simulations suggest that credit subsidies in Serbia helped to mitigate the slump in output.
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| Other form: | Print version: Podpiera, Jiri. Using Credit Subsidies to Counteract a Credit Bust: Evidence from Serbia. Washington : International Monetary Fund, ©2011 9781463927196
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