of capital markets and banking systems as well as the distribution of access to external finance across firms …

We assess the influence of competition and capital regulation on the stability of the banking system. We particularly … competitive environment affect bank monitoring choices and the effectiveness of capital regulation? Our approach deviates from the … requirements can lead to more entry into banking, essentially by reducing the competitive strength of lower quality banks. We also …

A banking union limits international bank default contagion, eliminating inefficient liquidations. For particularly low … moderate moral hazard, as the banking union encourages risk taking by systemic institutions. If banks hold opaque assets, the … net welfare effect of a banking union can be negative. Restricting the banking union mandate restores incentives …

. At the transition point there is a jumpin risk taking, as private banks do not internalize the social costs of bank … data complementing existing evidence that financial instability is highest when bank control is capturedby small lobbies. …

We study the effect of going-concern contingent capital on bank risk choice. The possibility of debt for equity …

in shadow banking. BHCs can increase their fee income by guaranteeing sold projects with a recourse to the bank's balance …Bank holding companies (BHCs) invest in risky projects through bank entities or sell projects for a fee, thus engaging … sheet. When the expected guarantee repayments depend on total bank proceeds (high capital requirements), BHCs have …