competition policy is likely to face more challenges as large companies are becoming more common in more and more industries …

This paper analyzes the implications of the gradual rise in bank concentration since the 1990s for the transmission of … the level of local bank concentration and bank capitalization. I find that banks operating in high-concentration markets … banks that rationalizes the empirical findings and explains the underlying mechanism. In the model, monopolistic competition …

quasi-exogenous increases in bank size in postwar Germany. I show that firms did not grow faster after their relationship …, but worked with riskier borrowers. Bank managers benefited through higher salaries and media attention. The paper presents …

competition and stability in banking. There are two basic channels through which competition may increase instability: by … incentives to take risk and raise failure probabilities. The competition-stability trade-off is characterized and the … implications of the analysis for regulation and competition policy are derived. It is found that optimal regulation may depend on …

, foreign entry and industry growth. These facts suggest that intensified competition in international markets coexists with …