simultaneous search or any heterogeneity in preferences, production costs, or search technologies. A distribution of money holdings … price distribution, in turn, makes buyers indifferent across a range of money balances, rationalizing the non …-degenerate distribution of money holdings. We completely characterize the distribution of posted prices and money holdings in any equilibrium …

banks submit in Term Deposit Facility operations, a Federal Reserve tool created to manage the quantity of bank reserves. We … term deposits qualify for the LCR. These results suggest that liquidity regulation affects bank demand in monetary policy …

European bank equity values - an effect that is normally positive - has become negative since interest rates in the euro area …

"We study the relationship between banking competition and the transmission of monetary policy through the bank lending … analysis, we are able to reaffirm the existence of the bank lending channel of monetary transmission. Moreover, we find that …