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We study differences in the price paid for liquidity across banks using price data at the individual bank level. Unique to this paper, we also have data on individual banks' reserve requirements and actual reserve holdings, thus allowing us to gauge the extent to which a bank is short or long...
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intensity of competition in firms' product markets, on the importance of collective wage bargaining and on other structural and …
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This paper studies the effect on monetary policy of a non-homogeneous degree of competition across the (two) members of … results of Benigno (2003) in two ways. First, we show that, if the degree of competition differs across countries, the optimal …. We show that this can alter Benigno's results even under asymmetric degree of competition. Our study suggests that the …
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