explicit formula representation and simple recursive algorithms to calculate them. Additionally the effciency and stability of …

Abstract: This paper documents large cross-country variation in the relationship between bank competition and bank … stability and explores market, regulatory and institutional features that can explain this variation. We show that an increase … in competition will have a larger impact on banks’ fragility in countries with stricter activity restrictions, lower …

The effectiveness of relative performance evaluation schemes, such as yardstick competition, can be undermined by … which we compare the efficiency of two performance evaluation schemes. …

novel feature is the competition between lenders in their choice of contracts offered. Qualities of investment projects are … themselves across all offered contracts. Competition of banks introduces three possibilities for a breakdown of credit markets … restored, if the permissible types of contracts are limited by regulation resembling the separation of investment and …

networks when these middlemen have no incentive to break up the network. Finally, we examine efficiency and stability in …We examine the strong pairwise stability concept in network formation theory under collective network benefits ….Strong pairwise stability considers a pair of players to add a link through mutual consent while permitting them to unilaterally …

equilibrium constraints.The convergence analysis of sample-path methods rely heavily on stability conditions.We first review …