We model the impact of bank mergers on loan competition, banks' reserve holdings and aggregate liquidity. Banks compete … in liquidity risk and expected liquidity needs for each bank and for the banking system. Large mergers tend to increase … expected aggregate liquidity needs, and thus the liquidity provision by the central bank. Comparative statics suggest that a …

. Following a sample approach this evaluation has its geographical focus on four new member states (Estonia, Poland, Hungary and …

This paper presents one of the first studies of firm demographics in Estonia, focusing particularly on the processes of … results, derived from a novel database of Estonian firms, show that firm turnover has been rather high in Estonia during the …