Consumption habits and interest rate rigidity
نویسندگان
چکیده
منابع مشابه
Consumption Habits and interest rate rigidity
In this paper we provide a micro model of loans which the lender is a monopolistic bank and the borrower is a competitive consumer with consumption habits who may default on part of his debt. In this setting, we prove that the loan demand curve is kinked and therefore it is possible to find interest rate rigidity in equilibrium as well as asymmetric response of loans to interest rate variations...
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ژورنال
عنوان ژورنال: Estudos Econômicos (São Paulo)
سال: 2011
ISSN: 0101-4161
DOI: 10.1590/s0101-41612011000300002