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structure, I find that the average monthly interest rates implied by the expectations theory is consistent with the pattern of …
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We introduce a dynamic network model of interbank lending and estimate the parameters by indirect inference using network statistics of the Dutch interbank market from mid-February 2008 through April 2011. We find that credit-risk uncertainty and peer monitoring are significant factors in...
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approach to address endogeneity. Consistent with economic theory, our estimates show a nonlinear demand function that exhibits …
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