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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

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

Thomas Quint

Martin Shubik

Yale University Press

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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