incorporate the effects of macroeconomic uncertainty on private savings behavior. It is shown that the greater the uncertainty in … savings and, other things equal, the larger is the current account surplus. Empirical support for the model is found using …

) little susceptibility to manipulation; (iv) timeliness; (v) scalable from the individual bank to the system. We show how this …

This paper investigates the degree of bank competition in the euro area, the U.S. and U.K. before and after the recent … financial crisis, and revisits the issue whether the introduction of EMU and the euro have had any impact on bank competition …. The results suggest that the level of bank competition converged across euro area countries in the wake of the EMU. The …