A prolonged low-interest-rate environment presents a significant challenge to banks and is likely to entail major … curves and an inability to offer deposit rates significantly below zero combine to compress bank earnings in this environment …. Smaller, deposit-funded, less diversified banks are hurt most, increasing consolidation pressures and reach …

find that an increase in the efficiency of banks driven by fiercer competition is robustly associated with higher real …

persistently below the inflation targets of central banks in many advanced economies despite an unprecedented monetary expansion … (natural interest rate). Addressing this question is important for central banks for conducting monetary policy and adjusting …