EFFICIENCY AND BARGAINING POWER IN THE INTERBANK LOAN MARKET

Using detailed transactions-level data on interbank loans, we examine the efficiency of an overnight interbank lending market and the bargaining power of its participants. Our analysis relies on the equilibrium concept of the core, which imposes a set of no-arbitrage conditions on trades in the mark...

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Veröffentlicht in:	International economic review (Philadelphia) 2016-05, Vol.57 (2), p.691-716
Hauptverfasser:	Allen, Jason, Chapman, James, Echenique, Federico, Shum, Matthew
Format:	Artikel
Sprache:	eng
Schlagworte:	Arbitrage Bank liquidity Bank loans Bank markets Banking crises Banks Bargaining Bargaining power Cash Central banks Economic crises Economic crisis Lenders Loans Studies
Online-Zugang:	Volltext
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