We estimate the macroeconomic benefits and international spillovers of an increase in competition using a general …-equilibrium simulation model with nominal rigidities and monopolistic competition in product and labor markets. We draw three conclusions … after calibrating the model to the euro area against the rest of the industrial world. First, greater competition produces …

particular, I find that a bank affiliated with a multi-bank holding company is significantly safer than either a stand-alone bank … or a bank affiliated with a one-bank holding company. Not only does affiliation reduce the probability of future … other banks. Moreover, the effects of affiliation are strengthened for an expanding bank holding company. However, the …

returns for bank advisors when they advise their own loan customers in acquiring other firms. -- Relationship banking …"This paper looks at the role of both commercial and investment banks in providing merger advisory services. In this … area, unlike some areas of investment banking, commercial banks have always been allowed to compete directly with …

In moral hazard models, bank shareholders have incentives to transfer wealth from the deposit insurer - that is … value, and a risk measure, this paper develops a semi-parametric model for estimating the critical level of bank risk at …-taking incentive prevailed during 1986-92, a period characterized by serious banking problems and financial turmoil. We find that …