general equilibrium model with two production sectors, risk-averse households and financial intermediation by banks. Banks are …

We examine the informational effects of M&As by investigating whether bank mergers improve banks’ ability to screen …-risky borrowers enjoy lower interest rates. These informational benefits appear to derive from improvements in information processing … resulting from the merger, rather than from explicit information sharing on individual customers among the merging parties. Our …

a new measure of product contractibility based on the degree of intermediation in international trade for the product …

The theory of international trade has paid scant attention to market institutions. Neither neoclassical theory nor new … have developed a stylized but explicit model of intermediation in trade. In this short paper, we present a variant of this …

This paper develops a simple model of international trade with intermediation. We consider an economy with two islands … that intermediation always magnifies the gains from trade under the former type of integration, but leads to more nuanced …

intermediation on the Internet by allowing registration and transaction prices, and multiple registration. When only registration …