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Essays on Macroeconomics with Imperf...

Ino, Akio.

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Essays on Macroeconomics with Imperfect Competition in the Banking Sector.

紀錄類型:	書目-電子資源 : Monograph/item
正題名/作者:	Essays on Macroeconomics with Imperfect Competition in the Banking Sector./
作者:	Ino, Akio.
出版者:	Ann Arbor : ProQuest Dissertations & Theses, : 2018,
面頁冊數:	69 p.
附註:	Source: Dissertation Abstracts International, Volume: 80-01(E), Section: A.
Contained By:	Dissertation Abstracts International80-01A(E).
標題:	Economics. -
電子資源:	http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=10837637
ISBN:	9780438308916

Essays on Macroeconomics with Imperfect Competition in the Banking Sector.
Ino, Akio.

Essays on Macroeconomics with Imperfect Competition in the Banking Sector. - Ann Arbor : ProQuest Dissertations & Theses, 2018 - 69 p.

Source: Dissertation Abstracts International, Volume: 80-01(E), Section: A.

Thesis (Ph.D.)--The University of Wisconsin - Madison, 2018.

In the first chapter, I introduce imperfect competition and entry and exit in the banking sector into an otherwise standard DSGE model. The model generates an amplification mechanism through bank entry and exit. In particular, if there is a positive productivity shock, borrowing to finance investment increases leading to higher bank profits and an increase in entry. Increased competition leads to a reduction in markups and encourages further investment.

ISBN: 9780438308916Subjects--Topical Terms:

517137
Economics.

Essays on Macroeconomics with Imperfect Competition in the Banking Sector.
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520 $a In the first chapter, I introduce imperfect competition and entry and exit in the banking sector into an otherwise standard DSGE model. The model generates an amplification mechanism through bank entry and exit. In particular, if there is a positive productivity shock, borrowing to finance investment increases leading to higher bank profits and an increase in entry. Increased competition leads to a reduction in markups and encourages further investment.
520 $a Compared to the model with perfect competition, imperfect competition in the banking sector increases the standard deviation of output by 7.5%.
520 $a In the second chapter, I build a New Keynesian model with imperfect competition and entry and exit in the banking sector. The model generates an amplification mechanism through the interaction of sticky prices and bank entry and exit. With sticky prices, output becomes more persistent. For example, the first order auto-correlation increases from 0.93 under flexible price to 0.935. When there is a positive productivity shock, this increased persistence makes investment more profitable and encourages bank entry. As a result, the response of bank entry is always positive, which was not true under the flexible price version of the model.
520 $a The model with sticky prices increases the standard deviation of output by 9.5% compared to the model with perfect competition and flexible prices. Since the model with imperfect competition and flexible prices increases the standard deviation of output by 7.5%, the contribution of sticky prices and its interaction with bank entry is 2.0%.
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