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Imperfect Bank Competition, Borrower Adverse Selection, and the Transmission of Monetary Policy

Cantillo, Miguel - 2023

This paper studies bank competition with borrower adverse selection. In the model, expected non-performing loan costs … are high when credit is granted in booms, when risk free rates are low, or when competition is strong. I prove that full … competition is suboptimal due to this last effect; that more competition improves the transmission of monetary policy, and that …

Persistent link: https://www.econbiz.de/10014355959

Vertical Differentiation in Monetary Search-Theorectic Models-Revisited

Chang, Chia-Ying - 2010

In this article, the discussion on quality levels in the monetary search theoretical model is extended. By having quality levels endogenously determined, we found that whether money holders have quality preferences is crucial to the results. While the effect of the fraction of money on quality...

Persistent link: https://www.econbiz.de/10013149151

Sticky Prices, Coordination and Enforcement

Driscoll, John C.; Itō, Harumi - 2003

Price-setting models with monopolistic competition and costs of changing prices exhibit coordination failure: in … sticky-price models may more generally depend on the kind of imperfect competition assumed …

Persistent link: https://www.econbiz.de/10014075823

Loss Averse Depositors and Monetary Policy Around Zero

Stettler, Christian - 2020

Recent experience from Europe and Japan shows that commercial banks generally pass negative short-term policy rates on to wholesale depositors, such as insurances and pension funds. Yet, they refrain from charging negative rates to ordinary retail customers. This paper asks whether the existing...

Persistent link: https://www.econbiz.de/10012837225

Markups and inflation in oligopolistic markets : evidence from wholesale price data

Alexander, Patrick; Han, Lu; Kryvtsov, Oleksiy; Tomlin, Ben - 2024 - Last updated: May 28, 2024

tractable model of oligopolistic competition and sticky prices and derive closed-form expressions for the pass-through of …

Persistent link: https://www.econbiz.de/10014562948

Bank competition with product differentiation under different monetary policy rules

Toolsema, L. A. - 2001

Persistent link: https://www.econbiz.de/10001619218

News shocks, monetary policy, and amplification effects in New Keynesian macroeconomics

Offick, Sven - 2015

Persistent link: https://www.econbiz.de/10011431930

Duopolistic Competition and Monetary Policy

Ueda, Kozo - 2021

A standard macroeconomic model based on monopolistic competition (Dixit-Stiglitz) does not account for the strategic … price stickiness. (2) The real effect of monetary policy under duopolistic competition is larger than that in a Dixit …

Persistent link: https://www.econbiz.de/10013241990

Human frictions in the transmission of economic policy

D'Acunto, Francesco; Hoang, Daniel; Paloviita, Maritta; … - 2019

Intertemporal substitution is at the heart of modern macroeconomics and finance as well as economic policymaking, but a large fraction of a representative population of men - those below the top of the distribution by cognitive abilities (IQ) - do not change their consumption propensities with...

Persistent link: https://www.econbiz.de/10011959294

Managing households' expectations with salient economic policies

D'Acunto, Francesco; Hoang, Daniel; Weber, Michael - 2019 - This version: August 2019

The empirical effectiveness of economic policies that operate theoretically through similar channels differs substantially. We document this fact by comparing an easy-to-grasp expectations-based policy, unconventional fiscal policy, with a policy whose implications are harder to understand by...

Persistent link: https://www.econbiz.de/10012057290