Tasas de interés y política monetaria en un duopolio bancario de Cournot

Abstract

THE OBJECTIVE OF THIS PAPER IS TO ANALYZE THE WAY IN WHICH LOAN AND DEPOSIT INTEREST RATES ARE DETERMINED IN A COURNOT-S DUOPOLY MODEL OF BANKING COMPETENCE. IT IS SHOWN THAT THE LOAN INTEREST RATE DEPENDS ON STRUCTURAL PARAMETERS OF THE FIRMS AND IT IS THE RESULT OF STRATEGIC INTERACTION BETWEEN BOTH BANKS. MEANWHILE, THE DEPOSIT INTEREST RATE IS DETERMINED BY MONETARY VARIABLES. SINCE THE LAST KIND OF INTEREST RATE IS DETERMINED BY MONETARY VARIABLES, THE MONEY IS NOT SUPER NEUTRAL IN THIS MODEL, FURTHERMORE, THE MONETARY POLICY CON INFLUENCE IN THE CREDIT MARKET PERFORMANCE. IN THE SAME WAY, WE TAKE AN INSIGHT OF THE ROLE OF THE EXCHANGE RATE IN THE CREDIT MARKET PERFORMANCE.