-taking. As market power is the primary source of franchise value, reduced competition in banking markets has been seen as …

Using bank level measures of competition and co-dependence, we show a robust negative relationship between bank … competition and systemic risk. Whereas much of the extant literature has focused on the relationship between competition and the … find that greater competition encourages banks to take on more diversified risks, making the banking system less fragile to …

We present a banking model with imperfect competition in which borrowers’ access to credit is improved when banks are … of CRT generally increases welfare in our setup. However, under private information, higher competition induces an … transfer ; credit derivatives ; public and private information ; access to credit ; bank competition …

imperfect competition and moral hazard, we show that the introduction of an internal ratings based (IRB) approach improves upon … a competitive advantage and, due to fiercer competition, pushes smaller banks to take higher risks. This may even lead …