Yun, Tack (1996), “Nominal Price Rigidity, Money Supply Endogeneity, and Business Cycles”, Journal of Monetary Economics, 37(2), 345-370. Woodford, Michael (2007), “Interpreting Inflation Persistence: Comments on the Conference on Quantitative Evidence on Price Determination”, Journal of Money, Credit, and Banking, 39(2), 203-211. Figure 1.
It is also intended to promote well-reasoned, effective work-out plans for problem assets, and effective internal controls to manage the level of such assets. As at end June 2011, Asset Quality of the banks was maintained at satisfactory levels. NPLs to total assets marginally decreased to 1.0 percent as at end-June 2011 compared to 1.1 percent at end-March 2011.