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Barley, Gold, or FiatToward a Pure Theory of Money$
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Thomas Quint and Martin Shubik

Print publication date: 2014

Print ISBN-13: 9780300188158

Published to Yale Scholarship Online: May 2014

DOI: 10.12987/yale/9780300188158.001.0001

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Monopolistic and Oligopolistic Bankers

Monopolistic and Oligopolistic Bankers

Chapter:
(p.163) Chapter 13 Monopolistic and Oligopolistic Bankers
Source:
Barley, Gold, or Fiat
Author(s):

Thomas Quint

Martin Shubik

Publisher:
Yale University Press
DOI:10.12987/yale/9780300188158.003.0013

This chapter covers models with either monopolistic or oligopolistic private banking. The three main models posed and solved are: 1) a fiat-money model with a monopolistic “corporate bank” that makes loans to the traders, with the bank’s objective being solely to maximize its monetary profit; 2) a fiat-money model with a monopolistic “individually owned bank” that makes loans to traders AND bids to consume good 1 and good 2; 3) a fiat-money model with a (small) finite number of corporate banks who form an oligopoly in the lending market; each such bank is large enough to influence the market interest rate for loans by changing the amount that it lends.

Keywords:   corporate bank, individually owned bank, monopolistic banking, oligopolistic banking

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