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symmetric information (including no hidden actions), perfect competition does not obtain. When a private lender allows a …
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this development was increased competition in the loan business from the 1880s onwards, which weakened the negotiating …
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emergence of the global fiscal cycle: governments' competition over the provision of reserve assets gives rise to strategic … complementarity in the issuances, even when the reserve assets are substitutes in partial equilibrium. We show our reserve-asset-competition …
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We test if unconventional monetary policy instruments influence the competitive conduct of banks. Between q2:2010 and q1:2012, the ECB absorbed e218 billion worth of government securities from five EMU countries under the Securities Markets Programme (SMP). Using detailed security holdings data...
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