Macroeconomic Implications of "Deep Habits" in Banking

Recent empirical evidence shows that price-cost margins in the market for bank credit are countercyclical in the U.S. economy and that this cyclical behavior can be explained in part from the fact that switching banks is costly for customers (i.e., from a borrower hold-up effect). Our goal, in this...

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Veröffentlicht in:	Journal of money, credit and banking credit and banking, 2010-12, Vol.42 (8), p.1495-1521
Hauptverfasser:	ALIAGA-DÍAZ, ROGER, OLIVERO, MARÍA PÍA
Format:	Artikel
Sprache:	eng
Schlagworte:	Bank credit Bank loans Bank markets Banking Banking industry banks' price-cost margins borrower hold-up Business cycles Costs Countercyclicality Credit market deep habits E32 E44 Economic fluctuations Economic theory Empirical research Financial margins Financial services Interest rates Loan rates Macroeconomics Monopolistic competition Price-cost margins Prices Securities markets Studies switching costs U.S.A
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