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University of Essex homepage Events Bank Heterogeneity, Deposits, Deep Habits, and the Pass-through of Interest Rates by Oliver de Groot
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Bank Heterogeneity, Deposits, Deep Habits, and the Pass-through of Interest Rates by Oliver de Groot

Join Oliver de Groot for this event, which is part of the Macroeconomics Research Seminar Series, Autumn Term 2023

  • Tue 17 Oct 23

    13:30 - 15:00

  • Colchester Campus

    5B.307

  • Event speaker

    Oliver de Groot

  • Event type

    Lectures, talks and seminars
    Macroeconomics Research Seminar Series

  • Event organiser

    Economics, Department of

Bank Heterogeneity, Deposits, Deep Habits, and the Pass-through of Interest Rates by Oliver de Groot

Join us for this weeks Macroeconomics Research Seminar, Autumn Term 2023.

Oliver de Groot, from the Management School at the University of Liverpool, will present this weeks Macroeconomics seminar on Bank Heterogeneity, Deposits, Deep Habits, and the Pass-through of Interest Rates.

Abstract

We present two new stylized facts regarding the setting of deposit rates by US banks. First, during periods of financial stress, more highly leveraged banks are slower to pass-through a falling federal funds rate to deposit customers. Second, during cyclical downturns, larger banks (once we control for other bank characteristics) are faster to pass-through a falling federal funds rate to deposit customers. To explain these two stylized facts, we develop a continuous-time general equilibrium heterogeneous bank model, in which banks face an occasionally binding leverage constraint, have monopolistic power in the market for household deposits, and importantly, households have deep habits with regard to their demand for banking services. 

This seminar will be held on campus in the Economics Common Room at 1.30pm on Tuesday 17 October 2023. This event is open to all levels of study and is also open to the public. To register your place, please contact the seminar organisers.

This event is part of the Macroeconomics Research Seminar Series.

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