We claim that we currently live in a banking regulatory bubble.We review how: i) banking intermediation theory hinges on dealing with borrower-lender asymmetry of information; ii) instead, the presence of complete information is keystone of finance theory. Next, we document how finance theory...

We claim that we currently live in a banking regulatory bubble. We review how: i) banking intermediation theory hinges on dealing with borrower-lender asymmetry of information; ii) instead, the presence of complete information is the keystone of the finance theory. Next, we document how finance...

Since 1994, the German banking market is confronted with an entry wave of direct banks. This banking innovation may be explained by developments on the supply side as well as on the demand side. It is pushed by developments in telecommunication technologies during a period of rising cost...

Switzerland is one of the countries with the highest concentration of bank-customer relationships. The present paper seeks to find out whether this can be explained by the structure of Swiss firms or by the organization of the Swiss banking market. Using survey data from small and medium-sized...

Adopting a continuous-time portfolio framework with endogenous financial intermediation, this paper analyzes diversification in bank lending. First, an increase in the number of independent credits in a loan portfolio is shown to enhance intermediation activities. This supports the hypothesis of...

Seit 1994 erlebt der deutsche Bankenmarkt eine Welle von Direktbankgründungen. Die Direktbankinnovation ist durch Entwicklungen auf der Angebots- und Nachfrageseite erklärbar. Einerseits ist sie in einer Periode zunehmenden Kostenwettbewerbs durch Weiterentwicklung der...

The macroprudential regulatory framework of Basel III imposes the same minimum capital and liquidity requirements on all banks around the world to ensure global competitiveness of banks. Using an agent-based model of the financial system, we find that this is not a robust framework to achieve...

Empirical research about structure, conduct and performance in banking markets has developed mostly independently from the microeconomic theory of banking. The present paper reviews the literature by focusing on the links between theoretical and empirical research. It considers basic conditions,...

The macroprudential regulatory framework of Basel III imposes the same capital and liquidity requirements on all banks around the world to ensure global competitiveness of banks. Using an agent-based model of the financial system, we find that this is not a robust framework to achieve...

Staatliche Bürgschaften und Bürgschaftsbanken sind wichtige Instrumente, um Kreditrationierung aufgrund von Informationsasymmetrien zu reduzieren und somit die Finanzierung kleiner und mittelständischer Unternehmen zu erleichtern. Der vorliegende Beitrag untersucht die Wirksamkeit dieser...