Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/186131 
Erscheinungsjahr: 
2018
Schriftenreihe/Nr.: 
Texto para discussão No. 665
Verlag: 
Pontifícia Universidade Católica do Rio de Janeiro (PUC-Rio), Departamento de Economia, Rio de Janeiro
Zusammenfassung: 
How countercyclical macroprudential credit policies affect the loan spread? To answer this question, we propose a microeconomic model of bank competition that contemplates differences in the behavior of public and private banks and the peculiarities of the market for corporate loans vis-a-vis the market for consumer loans. We solve the model and calibrate it using parameters of the Brazilian economy, where government-owned banks not only account for almost half of the outstanding loans in the credit market but also have played a strong countercyclical role in the economy. Subsequently, we use the equilibrium conditions of the model to study the effects of macroprudential credit policies on loan spreads. The results indicate that credit expansion by public banks is more effective to reduce loans interest rates during recession periods than during periods of economic expansion.
Schlagwörter: 
Interest Rate Spread
Bank Competition
Public and Private Loans
JEL: 
E13
E43
E51
Dokumentart: 
Working Paper

Datei(en):
Datei
Größe
1.57 MB





Publikationen in EconStor sind urheberrechtlich geschützt.