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The aim of this paper is to assess the level of competition prevailing in the Spanish banking system. The current … banks. In both settings, a noteworthy increase in the degree of competition is identified at the turn of the eighties, when … hypothesis which states that concentration impairs competition. …
Persistent link: https://www.econbiz.de/10005022271
market competition with search costs. …
Persistent link: https://www.econbiz.de/10005022230
. Many empirical studies suggest that financial reform promoted bank competition in most mature and emerging economies …. However, some earlier studies that adopted conventional approaches to measure competition concluded that bank competition in … Panzar- Rosse H-statistic fail to measure competition in Chinese loan markets properly due to the system of interest rate …
Persistent link: https://www.econbiz.de/10010862252
approach is able to measure competition of bank market segments, such as the loan market, whereas many well-known measures of … ignores differences in bank product quality and design, as well as the attractiveness of innovations. We measure competition …This paper is the first that applies a new measure of competition, the Boone indicator, to the banking industry. This …
Persistent link: https://www.econbiz.de/10005022263
stronger competition implies significantly lower spreads between bank and market interest rates for most loan market products … where competitive pressures are stronger. Further, where loan market competition is stronger, we observe larger bank spreads …This paper analyses the impact of loan market competition on the interest rates applied by euro area banks to loans and …
Persistent link: https://www.econbiz.de/10005022279
This paper investigates the relationship between credit market competition and the availability of bank credit for ….Therefore market power in credit markets and collateral appear as substitutes to increase the availability of bank finance under …
Persistent link: https://www.econbiz.de/10005022289
This article combines a discrete choice model of demand for residential local telephone access and an optimal price regulation model to estimate the welfare weights that state regulators place on consumers with different incomes and locations. I find no evidence of a bias towards rural consumers...
Persistent link: https://www.econbiz.de/10009391849
Emerging economies with inflation targets (IT) face a dilemma between fulfilling the theoretical conditions of "strict IT", which imply a fully flexible exchange rate, or applying a "flexible IT", which entails a de facto managed floating exchange rate with FX interventions to moderate exchange...
Persistent link: https://www.econbiz.de/10008914185
This paper presents a model featuring variable utilization rates across firms due to production inflexibilities and idiosyncratic demand uncertainty. Within a New Keynesian framework, we show how the corresponding bottlenecks and stock-outs generate asymmetries in the transmission mechanism of...
Persistent link: https://www.econbiz.de/10004965261
In this article, we explore the demand for the euro for risk management purposes, and the evidence of stock market integration in the euro area. We define a reserve currency as one that investors demand either because it helps them hedge real interest risk and inflation risk, or because it helps...
Persistent link: https://www.econbiz.de/10008464965