This paper deals with the way the rate of interbank rate, affects the optimal level of bank's profits as well as the utility of its clients. In particular we discuss the Yamazaki and Miyamoto Model of interbank rate, while changes of the latter affect, under special condition, negatively the...

The objective of this paper is to estimate the agricultural output gap for Greece during the period 1858-1938 using the univariate approach. To investigate the unit root hypothesis we use the Lumsdaine & Papell methodology. We show that models containing the agricultural output gap, as measured...

Post-war Chicago School advanced a blend of pre-war Chicago and non-Chicago quantity theory, termed Monetarism. The preponderance of the non-Chicago element in this blend has been documented well by the relevant literature. This note maintains that monetarism"s only contribution to pre-war...

Abstract This paper elaborates upon the following three theses: First, given bank sector concentration, the other aspect of this sector that matters for the overall economy is that of price vs . quantity competition by itself. Second, the macroeconomic performance of price competition is...

Abstract This paper addresses the issue of impacts of the banking market structure on debt dynamics. Using a simple theoretical model, we analytically find a positive link between number of banks and growth rate of debt. By applying panel data analysis on a set of Eurozone countries, sufficient...