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 …

International financial linkages, particularly through global bank flows, generate important questions about the …. Empirical tests of the trilemma support this view that global bank effects are heterogeneous and that the primary drivers of …

financial services, the number of U.S. bank branches has continued to increase steadily over time. Further, an increasing … lower bank-average deposits per branch and roughly equal volumes of small business loans per branch, but no reduction in net …-sized branch networks had lower bank-average deposits and small business loan volume per branch, but had lower net deposit costs …

In moral hazard models, bank shareholders have incentives to transfer wealth from the deposit insurer - that is … value, and a risk measure, this paper develops a semi-parametric model for estimating the critical level of bank risk at …

markets in bank holding companies to isolate plausibly exogenous variation in the financial constraints faced by subsidiary … banks. In particular, I demonstrate that affiliated bank loan growth is less sensitive to changes in the federal funds rate …

We address two questions: (i) Are bank capital structure and value correlated in the cross section, and if so, how? (ii …) If bank capital does affect bank value, how are the components of bank value affected by capital? We first develop a … dynamic model with a dissipative cost of bank capital that is traded off against the benefits of capital: strengthened …