) 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 …

financing instruments for banks and means of payment for bank customers implies spillover effects of bank lending. After a bank … finances loans with new deposits, the deposit holders' payments cause reserves and deposits to flow from the lending bank to … that generate respectively strategic complementarity and strategic substitution in banks' lending decisions. We model bank …

resources in the form of deposits. Therefore, bank credit needs to be modelled as a monetary phenomenon, which directly fuels … lend, the bank does not have to raise deposit rates or significantly increase borrowing from abroad as deposit dynamics … closely resembles that of credit, which allows us to analyse real and nominal consequences of bank credit (and money) creation. …

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

it is possible to calculate the necessary money generation for a financially stable economy. A bank is in this respect a …

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 …