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Bank Markups, Horizontalism and the Significance of Banks's Liquidity Preference: An Empirical Assessment

Author

Listed:
  • Deriet, M.
  • Seccareccia, M.

Abstract

The purpose of this paper is to assess whether the widely-held markup theory of interest rate determination, first put forth by Rousseas in the mid-1980s, is sufficiently robust empirically or whether one aspect of Keynesian liquidity preference theory, that which emphasizes the role of banks's liquidity preference, is significant in determining bank markups. This is done by studying Canadian observations of the interest rate structure and the latter's relation to indicators of bank liquidity.

Suggested Citation

  • Deriet, M. & Seccareccia, M., 1996. "Bank Markups, Horizontalism and the Significance of Banks's Liquidity Preference: An Empirical Assessment," Working Papers 9601e, University of Ottawa, Department of Economics.
  • Handle: RePEc:ott:wpaper:9601e
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    Cited by:

    1. Louis-Philippe Rochon, 2001. "Cambridge's Contribution to Endogenous Money: Robinson and Kahn on credit and money," Review of Political Economy, Taylor & Francis Journals, vol. 13(3), pages 287-307.

    More about this item

    Keywords

    BANKS; LIQUIDITY; TAUX D'INTERET;

    JEL classification:

    • E40 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - General
    • E43 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Interest Rates: Determination, Term Structure, and Effects
    • G20 - Financial Economics - - Financial Institutions and Services - - - General
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages

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