Blar i Arbeidsnotater / Working Papers på emneord "lock-in"
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What Determines Banks’ Market Power? Akerlof versus Herfindahl
(Working Papers;8/2005, Working paper, 2005)We introduce a model analyzing how asymmetric information problems in a bank-loan market may evolve over the age of a borrowing firm. The model predicts a life-cycle pattern for banks’ interest rate markup. Young firms pay ...