) assets are bank-specific. We show that when the outside options of needy banks are weak, surplus banks may strategically … under-provide lending, thereby inducing inefficient sales of bank-specific assets. A central bank can ameliorate this …

behavior following monetary policy shocks. In a first step, we show that the sensitivity of bank profits to interest rates … income gap also predicts the sensitivity of bank lending to interest rates, both for commercial & industrial loans and for … mortgages. Quantitatively, a 100 basis point increase in the Fed funds rate leads a bank at the 75th percentile of the income …

low-income countries. Transmission is measured by the impulse response of bank lending rates to monetary policy shocks … there is wide variation in the response of bank lending rates to a monetary policy innovation across countries. Monetary … policy shocks are more likely to affect bank lending rates in the theoretically expected direction in countries that have …

the proprietary bank-to-bank European interbank dataset extracted from Target2 and also exploit the Lehman and sovereign …

Using a general-equilibrium simulation model featuring nominal rigidities and monopolistic competition in product and … labour markets, this Paper estimates the macroeconomic benefits and international spillovers of an increase in competition …, greater competition produces large effects on macroeconomic performance, as measured by standard indicators. In particular, we …