) relationship between the standard deviation (coefficient of variation) and the average in bank lending-rate markups. In a …. Normatively, under a given inflation target, welfare gains arise if a central bank can use additional liquidity-provision (or tax …

We analyze the relationship between bank size and risk-taking under the New Basel Capital Accord. Using a model with … imperfect competition and moral hazard, we show that the introduction of an internal ratings based (IRB) approach improves upon … a competitive advantage and, due to fiercer competition, pushes smaller banks to take higher risks. This may even lead …

) model featuring deposit issuance via bank credit and endogenous default. We argue that the official policy rate and the …

market busts if bank portfolios suffer, but also in booms if trading absorbs more money. The government has multiple policy … University) and Philip Lowe (Reserve Bank of Australia).Opening Address:"http://ssrn.com/abstract=3212469" Low for Long or …

compress spreads, and thereby reduce bank profitability, deposit creation and output. Third, near the ZLB Phillips curves are …

We develop a New Keynesian model where all payments between agents require bank deposits through deposits …-in-advance constraints, bank deposits are created through disbursement of bank loans, and banks face a convex lending cost. At the zero lower …

We develop a New Keynesian model where all payments between agents require bank deposits, bank deposits are created … through disbursement of bank loans, and banks face convex lending costs. At the zero lower bound on deposit rates (ZLBD …

transfer ; credit derivatives ; public and private information ; access to credit ; bank competition …We present a banking model with imperfect competition in which borrowers’ access to credit is improved when banks are … of CRT generally increases welfare in our setup. However, under private information, higher competition induces an …

We present a banking model with imperfect competition in which borrowers' access to credit is improved when banks are … of CRT generally increases welfare in our setup. However, under private information, higher competition induces an …

We study the effects of asymmetric information and imperfect competition in the market for small business lines of … credit. We estimate a structural model of credit demand, loan use, pricing, and firm default using matched firm-bank data …