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Bank mergers, competition and liquidity
Carletti, Elena; Hartmann, Philipp; Spagnolo, Giancarlo - 2003
We model the impact of bank mergers on loan competition, banks' reserve holdings and aggregate liquidity. Banks compete …
Persistent link: https://www.econbiz.de/10009635892
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Bank mergers, competition and liquidity
Carletti, Elena; Hartmann, Philipp; Spagnolo, Giancarlo - 2003
Persistent link: https://www.econbiz.de/10011604338
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Bank mergers, competition and liquidity
Carletti, Elena; Hartmann, Philipp; Spagnolo, Giancarlo - 2005
We model the impact of bank mergers on loan competition, reserve holdings and aggregate liquidity. A merger creates an … the interbank market. Loan market competition modifies the heterogeneity in the size of banks, thus affecting aggregate …
Persistent link: https://www.econbiz.de/10011585555
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Leniency and Damages
Marvao, Catarina; Spagnolo, Giancarlo; Buccirossi, Paolo - The Stockholm Institute of Transition Economics and … - 2015
cooperation with the competition authority increases the chance that the cartel’s victims will bring a successful suit. A long … Hungary) and full access to all evidence collected by the competition authority, including leniency statements, is granted to …
Persistent link: https://www.econbiz.de/10011168913
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Leniency and Damages
Marvão, Catarina; Spagnolo, Giancarlo; Buccirossi, Paolo - 2016
cooperation with the competition authority increases the chance that the cartel's victims will bring a successful suit. A long … Hungary) and full access to all evidence collected by the competition authority, including leniency statements, is granted to …
Persistent link: https://www.econbiz.de/10012110659
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Multimarket Contact, Concavity, and Collusion: on Extremal Equilibria of Interdependent Supergames
Spagnolo, Giancarlo - Economics Institute for Research (SIR), … - 1996
Following Bernheim and Whinston (1990), this paper addresses the effects of multimarket contact on firms ability to collude in repeated oligopolies. Managerial incentives, taxation, and financial market imperfections tend to make firms objective function strictly concave in profits and market...
Persistent link: https://www.econbiz.de/10005649430
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On Interdependent Supergames : Multimarket Contact, Concavity and Collusion
Spagnolo, Giancarlo - 1999
Following Bernheim and Whinston (1990), this paper addresses the effects of multimarket contact on firms' ability to collude. Real world imperfections tend to make firms' objective function strictly concave and market supergames "interdependent": firms' payoffs in each market depend on how they...
Persistent link: https://www.econbiz.de/10014193963
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On Interdependent Supergames : Multimarket Contact, Concavity and Collusion
Spagnolo, Giancarlo - 1999
Following Bernheim and Whinston (1990), this paper addresses the effects of multimarket contact on firms' ability to collude. Real world imperfections tend to make firms' objective function strictly concave and market supergames "interdependent": firms' payoffs in each market depend on how they...
Persistent link: https://www.econbiz.de/10014194052
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Leniency and Damages
Buccirossi, Paolo; Marvão, Catarina M. P.; Spagnolo, … - 2016
cooperation with the competition authority increases the chance that the cartel’s victims will bring a successful suit. A long … Hungary) and full access to all evidence collected by the competition authority, including leniency statements, is granted to …
Persistent link: https://www.econbiz.de/10014137919
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Leniency Inflation, Cartel Damages and Criminalization
Marvão, Catarina M. P.; Spagnolo, Giancarlo - 2021
We revisit the pros and cons of cartel criminalization with focus on its possible introduction in the EU. We document a recent phenomenon that we name EU ``leniency inflation", whereby leniency has been increasingly awarded to many, and sometimes all members of a cartel. We argue that, coupled...
Persistent link: https://www.econbiz.de/10013221273