Published 2025
“…The main conclusions from those models are: (1) both the payment rate and the ratio credit/GDP have negative effects on the loan interest rate; (2) habits formation generates rigidity of the interest rate with respect to the marginal cost of the monopolistic bank; in particular, it is obtained rigidity of the loan interest rate with respect to the SELIC interest rate; (3) habits formation also
causes asymmetry in the response of the loan demand due to variations in the interest rate.…”
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