A macroeconomic theory of banking oligopoly
نویسندگان
چکیده
We study the behavior and macroeconomic impact of oligopolistic banks in a tractable environment with micro-foundations for money banking. In our model, large interact strategically as they compete against each other to make loans. Banks face potential liquidity issues try secure deposits source funds. find that it is welfare-maximizing have banking sector oligopolistic, i.e., small number banks. addition, inflation stimulates bank entry but always reduces welfare.
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ژورنال
عنوان ژورنال: European Economic Review
سال: 2021
ISSN: ['1873-572X', '0014-2921']
DOI: https://doi.org/10.1016/j.euroecorev.2021.103864