This paper studies the integration of deposit and loan markets, which may be constrained by the geographic dispersion of depositors, borrowers, and banks. This dispersion results in problems of asymmetric information, monitoring and transaction costs, which in turn may prevent deposits from...

The 1994 Riegle-Neal Act (RN) removed restrictions on branch-network expansion for banks in the United States. An important motivation was to facilitate geographic risk diversification (GRD). Using a factor model to measure banks' geographic risk, we show that RN expanded GRD possibilities in...

This paper develops a structural multi-location consumer demand model to analyze spatially differentiated retail networks. A novel feature is that we allow consumers to care about outlets that are close to either home or workplace locations. This is in contrast to the previous literature, which...