Interest Rates and the Design of Financial Contracts
收藏NBER2020-05-01 更新2025-01-04 收录
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https://www.nber.org/papers/w27195
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资源简介：
We show that the partial response of loan rates to interest rate changes, referred to in the bank lending literature as stickiness, is a feature of perfect capital markets. No-arbitrage models of credit risk are able to replicate empirical interest rate sensitivities. However, the widespread use of
提供机构：
美国国家经济研究局
创建时间：
2020-05-01
