neutral. Furthermore, when controlling for the sectoral allocation of financing, no specific instrument - e.g. bank credit or …

higher reliance on continental rather than Anglo-Saxon financing practices, and therefore increases dependence on banks …

large banks) have been receiving, there is no consistent picture of the impact of mergers on the stability of the financial … diversification of single banks and support their resilience to shocks, and may slow down contagious default. However, merger … banks emerge in key positions in the network. …

highlight an opposite effect: higher profitability loosens bank borrowing constraints. This enables profitable banks to take …Traditional theory suggests that higher bank profitability (or franchise value) dissuades bank risk-taking. We … risk on a larger scale, inducing risk-taking. This effect is more pronounced when bank leverage constraints are looser, or …

in general, better capitalized and less leveraged banks have outperformed their peers, a finding that supports … policymakers’ efforts to strengthen bank capitalization. …

. Here, we compare the simulation properties of five mediumsized general equilibrium models used in Eurosystem central banks … Constraints ; Financial Accelerator ; Model Comparison ; Eurosystem central bank models …

and banks depends on the entrenchment of the economic elites and the length of established statehood. To validate our …