Is there a financial accelerator in US banking?: Evidence from the cyclicality of banks' price-cost margins
AbstractWe show that price-cost margins for US banks are consistently countercyclical, even after controlling for credit risk, the term structure of interest rates and monetary policy. This evidence supports the existence of a "financial accelerator" in US banking.
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Bibliographic InfoArticle provided by Elsevier in its journal Economics Letters.
Volume (Year): 108 (2010)
Issue (Month): 2 (August)
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Web page: http://www.elsevier.com/locate/ecolet
Banks' price-cost margins RBC Financial accelerator;
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