-BA), and finally output-based allocation in sectors exposed to international competition combined with auctioning in …

that the SSM reduced competition for SSM banks in countries affected by the sovereign debt crisis. Otherwise, the impact of … the SSM was limited or competition increased. Furthermore, our results suggest that anti-competitive side effects of the …

classified as market-based (MBEU) and the third group is more bank-based (BBEU). We compare US, MBEU, BBEU, Eastern EU and Japan … bank-based countries. Finally, for most indicators, the ordering of groups of countries is quite stable over time, but … and all EU regions insome respects. We also find that during the crisis, substitution between market-based and bank …