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Transaction costs have attracted considerably attention in the theoretical literature on residential mobility. In many European countries, these costs mainly consist of ad-valorem transaction costs. In the current paper, we demonstrate empirically for the Netherlands that the transaction costs...
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We examine how bank competition in the run-up to the 2007-2009 crisis affects banks' systemic risk during the crisis … competition at the industry level lead to higher realized systemic risk. The results suggest that the use of securitization …
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