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The German financial system is characterized by lower degrees of penetration by foreign commercial banks and of (bank) disintermedation than, for instance, that of the United States. These differences between the two countries could be attributed to the fact that universal banking in Germany...
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(Gabaix, 2011) for the banking sector, introducing Bertrand competition and heterogeneous banks charging variable markups …
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contribution is two-fold. First, we expand the theory of granularity to encompass the Bertrand competition frequently used in …
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. We discuss whether the initiatives may mark the start of a new protectionist era. We argue that standard globalization … against the globalization process. We discuss the benefits of globalization benefits in terms of lower prices for consumers, a …
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The globalization of capital and product markets has many implications for economic welfare. Countries can specialize …, one potentially adverse effect of globalization is the possibility that business cycle volatility might increase. Rapid …
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The internationalization of financial markets is one of the focal points in the discussion about recent globalization …
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