Koyama, Sérgio Mikio; Nakane, Márcio I. - Central Bank of Brazil, Research Department - 2007
This paper develops a demand model for bank loans with a two-step decision process. In the first step, the agent chooses the financial institution from which she would like to borrow. In the second step, conditioned in the first decision, the agent chooses the desired amount of the loan. The...