This paper explores how changes in credit market competition may result in a less pronounced effect of credit …

competition and a lower risk-free rate raise the screening costs of lending, which can result in pooling Nash equilibria with … empirical results on the relationship between bank competition and financial stability. The model can be used to define a …

interact with the degree of local credit market competition to increase lending growth. Specifically, I use a shift … in more competitive mortgage markets; with less-regulated non-bank lenders being most responsive to this competition …