We examine how bank competition in the run-up to the 2007-2009 crisis affects banks' systemic risk during the crisis. We then investigate whether this effect is influenced by two key bank characteristics: securitization and bank capital. Using a sample of the largest listed banks from 15...

While the real effects of bank competition is a classic topic in the finance literature, there has been relatively little research studying the effect it might have on local labor markets. In this paper, I utilize county level data and an exogenous shock to competition supplied by DOJ antitrust...

This paper shows that a decrease in bank competition negatively affects local labor markets. Using bank mergers and anti-trust policy to obtain quasi-exogenous variation, I find that a 5% increase in county level bank concentration leads to a 6% decrease in small business lending, followed by a...

Economic growth is below what would be needed to resume rapid convergence to average OECD living standards. On-going efforts to improve the business climate are laudable, but need to be widened and strengthened. Much progress has been achieved in reducing red tape, but it is only recently that...

A general theoretical and empirical framework is developed for assessing the potential of a vertically integrated firm to foreclose downstream competitors. Using this framework a policymaker may also evaluate the empirical welfare effects from a vertically integrated firm raising rivals' costs....

The main objective of the competition policy and law is to preserve and promote competition, as a means to ensure efficient allocation of resources in an economy, resulting in the best possible choice of quality, the lowest prices and adequate supplies to consumers. As a general proposition,...