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 …

reserves and lend to each other. Our systemic perspective points to these featuring dimensions of ongoing bank activity. Our … model considers bank activity process within each bank entity and across entities. Each bank keeps currency money in bank … deposits on behalf of other agents. But the bank activity is further characterised by the capacity or privilege to use these …

diese Arbeit mit einer Neubewertung der endogenen Geldtheorie. Im Text wird zwischen Horizontalisten, Vertikalisten und … endogenen Geldtheorie behält die grundlegende Erkenntnis bei, dass die Geldmenge Kredit getrieben ist, aber behebt die …

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 …

This paper investigates the relationship between bank competition and credit procyclicality for 17 OECD countries on … the 1986-2009 period. We account for heterogeneity among countries in terms of bank competition through the use of a … whether credit procyclicality is more important when the degree of bank competition is high. Our findings show that while …

empirical results on the relationship between bank competition and financial stability. The model can be used to define a …A model of imperfectly competitive banks is examined under asymmetric information about borrower quality. Greater bank … competition and a lower risk-free rate raise the screening costs of lending, which can result in pooling Nash equilibria with …