the bank shareholder and manager incentives. It can even happen that the exogenous shock impact on credit has a different … on credit creation in the other. I show that the presence of the two named categories of non-transferable skills in the … disturbances. At the same time, this bank-specific market friction creates a separate channel of shock propagation, a function of …

respect to optimality of standard debt contracts in this model are discussed. Adverse selection in credit markets and its … and bankruptcy decisions. Alternative assumptions about informational asymmetries in credit markets are presented as well …

shares of fee income since by expanding into non-traditional businesses the bank needs more capital to prevent the potential … be possibly attributed to relatively high switching costs and to close relationship between depositor and bank in the EU …

, as credit growth in emerging economies tends to be rather volatile, we rely on dynamic approach projecting key balance …

are patently voluntary. We offer a consistent reformulation of the theory: Each of the effort or quality levels is …

The theoretical literature gives conflicting predictions on how bank competition should affect financial stability, and … definition of financial stability and bank competition used by researchers influences their results in a systematic way. The …

sources of systemic risk: (i) linkages between local banks, and (ii) linkages between a foreign par- ent bank and its local … subsidiary. Using a nonparametric method based on extreme value theory, which accounts for fat-tail shocks, we analyze interde … foreign parent bank to its local subsidiary is substantially smaller than the risk between two local banks. …