Joseph Atta-Mensah

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Money Demand and Economic Uncertainty

Staff Working Paper 2004-25 Joseph Atta-Mensah
The author examines the impact of economic uncertainty on the demand for money.
Content Type(s): Staff Research, Staff Working Papers Topic(s): Monetary aggregates JEL Code(s): E, E4, E41, E5, E50

Commodity-Linked Bonds: A Potential Means for Less-Developed Countries to Raise Foreign Capital

Staff Working Paper 2004-20 Joseph Atta-Mensah
The author suggests that commodity-linked bonds could provide a potential means for less-developed countries (LDCs) to raise money on the international capital markets, rather than through standard forms of financing.

The Demand for Money in a Stochastic Environment

Staff Working Paper 2004-7 Joseph Atta-Mensah
The author re-examines the demand-for-money theory in an intertemporal optimization model. The demand for real money balances is derived to be a function of real income and the rates of return of all financial assets traded in the economy.
Content Type(s): Staff Research, Staff Working Papers Topic(s): Monetary aggregates JEL Code(s): E, E4, E41, E5, E50, G, G1, G11

Collateral and Credit Supply

Staff Working Paper 2003-11 Joseph Atta-Mensah
The author examines the role of collateral in an environment where lenders and borrowers possess identical information and similar beliefs about its future value. Using option-pricing techniques, he shows that a secured loan contract is equivalent to a regular bond and an embedded option to the borrower to default.

Bank Lending, Credit Shocks, and the Transmission of Canadian Monetary Policy

Staff Working Paper 2003-9 Joseph Atta-Mensah, Ali Dib
The authors use a dynamic general-equilibrium model to study the role financial frictions play as a transmission mechanism of Canadian monetary policy, and to evaluate the real effects of exogenous credit shocks. Financial frictions, which are modelled as spreads between deposit and loan interest rates, are assumed to depend on economic activity as well as on credit shocks.

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