Competition among banks and the pass-through of monetary policy
نویسندگان
چکیده
منابع مشابه
Competition among banks and the pass-through of monetary policy
This paper introduces monopolistically competitive banks into the New Keynesian DSGE setting. I find that this contributes to explaining three empirical facts: (i) The short-run transmission of changes in monetary policy to bank retail rates is far from complete and heterogeneous. Stiffer competition among commercial banks implies that (ii) retail interest rates correlate more tightly with mark...
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ژورنال
عنوان ژورنال: Economic Modelling
سال: 2011
ISSN: 0264-9993
DOI: 10.1016/j.econmod.2011.03.015