We find that competition from payday lenders leads depository institutions to raise overdraft fees and reduce the … illuminate competition and pricing frictions in the large, yet largely unstudied, small-dollar loan market. -- Payday credit … ; overdraft credit ; competition ; adverse selection …

We find that competition from payday lenders leads depository institutions to raise overdraft fees and reduce the … illuminate competition and pricing frictions in the large, yet largely unstudied, small-dollar loan market …

Financial intermediation and bank spreads are important elements in the analysis of business cycle transmission and … relationships in the banking sector can lead to indeterminacy of equilibrium forcing the central bank to react to spread movements …

Financial intermediation and bank spreads are important elements in the analysis of business cycle transmission and … relationships in the banking sector can lead to indeterminacy of equilibrium forcing the central bank to react to spread movements …

) relationship between the standard deviation (coefficient of variation) and the average in bank lending-rate markups. In a … quantitative theory consistent with these empirical observations, banks' lending market power is determined in equilibrium and is a …. Normatively, under a given inflation target, welfare gains arise if a central bank can use additional liquidity-provision (or tax …

activities and gamblers who play in lotteries. It links a central bank's interest rate policy to expected cash flows of both … than the steady state level. This worsening of the borrower pool is more serious if the central bank does not react to …

equilibrium model, and show that - consistent with our empirical finding - a monetary easing implies an expansion of bank lending …

-wide productivity endogenously, bank reaction to shocks corresponds to the balance sheet channel. Shadow banks are constrained by their … bank lending moves in the opposite direction to bank lending following monetary policy shocks, which mitigates aggregate …

policy rate to bank-lending rates. Strong cost-side effects heavily constrain the policy rate response to inflation from …