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Bank Net Worth and Frustrated Moneta...

Zentefis, Alexander Konstantinos.

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Bank Net Worth and Frustrated Monetary Policy.

紀錄類型:	書目-電子資源 : Monograph/item
正題名/作者:	Bank Net Worth and Frustrated Monetary Policy./
作者:	Zentefis, Alexander Konstantinos.
出版者:	Ann Arbor : ProQuest Dissertations & Theses, : 2017,
面頁冊數:	119 p.
附註:	Source: Dissertation Abstracts International, Volume: 78-12(E), Section: A.
Contained By:	Dissertation Abstracts International78-12A(E).
標題:	Finance. -
電子資源:	http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=10274151
ISBN:	9780355078121

Bank Net Worth and Frustrated Monetary Policy.
Zentefis, Alexander Konstantinos.

Bank Net Worth and Frustrated Monetary Policy. - Ann Arbor : ProQuest Dissertations & Theses, 2017 - 119 p.

Source: Dissertation Abstracts International, Volume: 78-12(E), Section: A.

Thesis (Ph.D.)--The University of Chicago, 2017.

This paper presents a model in which the effect of monetary policy depends on the state of bank net worth. When banks are flush with equity, changes in the central bank's policy interest rate pass through fully to bank lending rates. When banks have low equity, there is no such pass-through. Banks in the model are local monopolists for borrowers near them. When they have lots of equity, they compete for customers at the edges of their markets. When they have little equity, they retreat and exploit the monopoly power over their local customers. With very low equity, banks may even raise lending rates after a drop in the policy rate. The model posits novel connections between aggregate bank net worth, bank competition, and the effectiveness of monetary policy.

ISBN: 9780355078121Subjects--Topical Terms:

542899
Finance.

Bank Net Worth and Frustrated Monetary Policy.
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