What goes up must come down? Asymmetries and persistence in bank deposit rates

被引：5

作者：

Rosen R.J. ^{[1
]}

机构：

[1] Finance Department, Kelley School of Business, Indiana University

来源：

Journal of Financial Services Research | 2002年 / 21卷 / 3期

关键词：

Bank deposits; Banks; Interest rates;

D O I：

10.1023/A:1015085826129

中图分类号：

学科分类号：

摘要：

This paper contains a model of price setting in the presence of heterogeneous customers, explaining why bank interest rates respond sluggishly to some extended movements in market interest rates but not to others. Price (the bank interest rate) is likely to change only slightly with cost (the market interest rate) when the price-cost margin is already large and to be responsive when the price-cost margin is relatively small. The model is tested using data on interest rates offered for bank deposit instruments during 1987-2001. The results support the theoretical model, indicating that customer behavior plays a role in bank interest rate decisions.

引用

页码：173 / 193

页数：20

共 15 条

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