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III rules, thus suggesting a 'race to the top' in capital standards. We study regulatory competition when banks are …
Persistent link: https://www.econbiz.de/10011447527
Using a DSGE model with nominal wage rigidity, we investigate two scenarios for the Italian economy. The first considers sustained policy commitment to reform. The results indicate the possibility of 'growing out of bad initial conditions', if fiscal consolidation is combined with a program for...
Persistent link: https://www.econbiz.de/10012244451
that are more effective at preventing outsider's entry and at mitigating price competition lead to less patenting. We test … restrict entry and price competition. We show that guilds which originated from medieval religious confraternities were more … likely to regulate entry and competition, and that the effect on patenting is robust to instrumenting guild statutes with …
Persistent link: https://www.econbiz.de/10011717162
local credit markets. We provide evidence that marginal increases in interbank competition are detrimental to relationship … technologies are al-ready widely in use in the market by a large group of small mutual banks, an increase in competition may drive … banks to further cultivate their extensive ties with customers. -- interbank competition ; market organizational structure …
Persistent link: https://www.econbiz.de/10003979983
market competition eventually prevails over family ties even in a family-controlled governance system such as in Italy. …The paper analyzes the interplay of product market competition and governance on CEO compensation in Italian listed … definitions of competition: the intensity of import penetration, which accounts for price competition, and the intensity of R …
Persistent link: https://www.econbiz.de/10011280832
factors they perceive as drivers and obstacles to financing SMEs. We also study to what degree competition and the … banks in both countries. In particular, banks have begun to target SMEs due to the significant competition in the corporate … structure, institutional factors, regulation, competition …
Persistent link: https://www.econbiz.de/10003850504
Empirical evidence that migrants send home more remittances after disasters raises the question of whether remittances can be used to self-insure, substituting for both formal and informal insurance. We investigate this question using a unique data set on the usage patterns of financial services...
Persistent link: https://www.econbiz.de/10003983213
Modern trade theory emphasizes firm-level productivity differentials to explain the cross-border activities of non-financial firms. This study tests whether a productivity pecking order also determines international banking activities. Using a novel dataset that contains all German banks'...
Persistent link: https://www.econbiz.de/10003923511
Banking across borders has risen substantially over the past two decades. Yet there is significant heterogeneity in the international and global activities of banks across countries. This paper develops and tests a theoretical model that explains this variation from an international trade theory...
Persistent link: https://www.econbiz.de/10009707604
The number of firm bankruptcies is surprisingly low in economies with poor institutions. We study a model of bank-firm relationship and show that the banks̕ decision to liquidate bad firms has two opposing effects. First, the bank receives a payoff if a firm is liquidated. Second, it loses the...
Persistent link: https://www.econbiz.de/10002524103