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 …

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 …

liquidity shocks. But in contrast to these approaches we assume spacial monopolistic competition among banks. Since monopoly … positive effect. But this beneficial effect is only relevant if competition among banks does not sufficiently restrain monopoly …. In contrast, in the banking system of the U.S., with less competition for households' deposits, a high level of …