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Search Frictions, Credit Market Liquidity, and Net Interest Margin Cyclicality

hal.structure.identifierLaboratoire d'Economie de Dauphine [LEDa]
dc.contributor.authorBeaubrun-Diant, Kevin*
hal.structure.identifierCentre Lillois d’Études et de Recherches Sociologiques et Économiques - UMR 8019 [CLERSÉ]
hal.structure.identifierCentre d'Etudes Prospectives et d'Informations Internationales [CEPII]
dc.contributor.authorTripier, Fabien*
dc.date.accessioned2014-04-01T11:00:34Z
dc.date.available2014-04-01T11:00:34Z
dc.date.issued2015
dc.identifier.urihttps://basepub.dauphine.fr/handle/123456789/13009
dc.language.isoenen
dc.subjectSearch Frictionen
dc.subjectMatching Modelen
dc.subjectNash Bargainingen
dc.subjectBank Interest Marginen
dc.subject.ddc339en
dc.subject.classificationjelC.C7.C78en
dc.subject.classificationjelE.E3.E32en
dc.subject.classificationjelE.E4.E44en
dc.subject.classificationjelG.G2.G21en
dc.titleSearch Frictions, Credit Market Liquidity, and Net Interest Margin Cyclicalityen
dc.typeArticle accepté pour publication ou publié
dc.description.abstractenThe present paper contributes to the body of knowledge on search frictions in credit markets by demonstrating their ability to explain why the net interest margins of banks behave countercyclically. During periods of expansion, a fall in the net interest margin proceeds from two mechanisms: (i) lenders accept that they must finance entrepreneurs that have lower productivity and (ii) the liquidity of the credit market rises, which simplifies access to loans for entrepreneurs and thereby reinforces their threat point when bargaining the interest rate of the loan.en
dc.relation.isversionofjnlnameEconomica
dc.relation.isversionofjnlvol82
dc.relation.isversionofjnlissue325
dc.relation.isversionofjnldate2015-01
dc.relation.isversionofjnlpages79-102
dc.relation.isversionofdoi10.1111/ecca.12101
dc.relation.isversionofjnlpublisherWiley Blackwell
dc.subject.ddclabelMacroéconomieen
dc.description.submittednonen
dc.description.halcandidateoui
dc.description.readershiprecherche
dc.description.audienceInternational
dc.relation.Isversionofjnlpeerreviewedoui
hal.identifierhal-01515427*
hal.version1*
hal.update.actionupdateMetadata*
hal.author.functionaut
hal.author.functionaut


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