ability of a bank to restructure the borrower's firm in the case of distress, the possibility to appropriate private benefits …

estimate bank-specific Lerner indices as measures of competition and test if cost and profit efficiency are negatively related … cost savings. We suggest a united approach to measure competition and efficiency simultaneously to test this hypothesis. We …

We estimate the macroeconomic benefits and international spillovers of an increase in competition using a general …-equilibrium simulation model with nominal rigidities and monopolistic competition in product and labor markets. We draw three conclusions … after calibrating the model to the euro area against the rest of the industrial world. First, greater competition produces …

financial system in which there is intense competition among banks for private households' funds. Following earlier work by … contracts is restrained by households' financial market access. However, we also assume spatial monopolistic competition among … monopoly rents also entails a positive effect; however, this beneficial effect is only relevant if competition among banks does …

and French financial systems. The German financial system continues to appear to be bank-dominated, while the British …