RDP 9206: Loan Rate Stickiness: Theory and Evidence
Equation (3)
q
b
=
σ
b
h
(
p
b
)
+
Γ
(
p
a
−
p
b
)
σ
a
h
(
p
a
)
+
σ
a
∫
p
b
p
a
Γ
(
r
−
p
b
)
[
−
d
h
(
r
)
]
MathType@MTEF@5@5@+= feaagKart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLn hiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYbItLDharqqtubsr 4rNCHbGeaGqiVu0Je9sqqrpepC0xbbL8F4rqqrFfpeea0xe9Lq=Jc9 vqaqpepm0xbba9pwe9Q8fs0=yqaqpepae9pg0FirpepeKkFr0xfr=x fr=xb9adbaqaaeGaciGaaiaabeqaamaabaabaaGcbaGaamyCamaaCa aaleqabaGaamOyaaaakiabg2da9iabeo8aZnaaCaaaleqabaGaamOy aaaakiaadIgadaqadaqaaiaadchadaahaaWcbeqaaiaadkgaaaaaki aawIcacaGLPaaacqGHRaWkcqqHtoWrdaqadaqaaiaadchadaahaaWc beqaaiaadggaaaGccqGHsislcaWGWbWaaWbaaSqabeaacaWGIbaaaa GccaGLOaGaayzkaaGaeq4Wdm3aaWbaaSqabeaacaWGHbaaaOGaamiA amaabmaabaGaamiCamaaCaaaleqabaGaamyyaaaaaOGaayjkaiaawM caaiabgUcaRiabeo8aZnaaCaaaleqabaGaamyyaaaakmaapedabaGa eu4KdC0aaeWaaeaacaWGYbGaeyOeI0IaamiCamaaCaaaleqabaGaam OyaaaaaOGaayjkaiaawMcaamaadmaabaGaeyOeI0IaamizaiaadIga daqadaqaaiaadkhaaiaawIcacaGLPaaaaiaawUfacaGLDbaaaSqaai aadchadaahaaadbeqaaiaadkgaaaaaleaacaWGWbWaaWbaaWqabeaa caWGHbaaaaqdcqGHRiI8aaaa@68ED@