[PDF][PDF] Banking, Costly Credit, and Interest Rates with Limited Commitment
HS Choi - Korean Economic Review, 2025 - keapaper.kea.ne.kr
This study aims to explore the effects of a payment system with limited commitment on the
loan rate, the distribution of money, and social welfare. The payment system needs liquidity …
loan rate, the distribution of money, and social welfare. The payment system needs liquidity …
[PDF][PDF] Payment Systems, Multiple Types of Collateral, Banking, and Collateral Policy
HS Choi - Korean Economic Review, 2023 - keapaper.kea.ne.kr
An interbank payment system facilitates the transfer of funds among banks and finalizes
settlements. To ensure the stability of the payment system a bank generally posts collateral …
settlements. To ensure the stability of the payment system a bank generally posts collateral …
On a Pecuniary Externality of Competitive Banking Through Goods Pricing Dispersion
T Kam, H Lee, J Lee, IM Ng - Available at SSRN 4747331 - papers.ssrn.com
AbstractWe show that even with idealized competitive banks, banking amplifies retail-goods
firms' ability to extract higher markups from ex-post heterogeneous buyers. This works …
firms' ability to extract higher markups from ex-post heterogeneous buyers. This works …