A standard macroeconomic model based on monopolistic competition (Dixit-Stiglitz) does not account for the strategic … price stickiness. (2) The real effect of monetary policy under duopolistic competition is larger than that in a Dixit …

This paper studies bank competition with borrower adverse selection. In the model, expected non-performing loan costs … are high when credit is granted in booms, when risk free rates are low, or when competition is strong. I prove that full … competition is suboptimal due to this last effect; that more competition improves the transmission of monetary policy, and that …

be conditioned by the degree of market competition. We first identify conditions under which changes in marginal costs … competition setting. We then exploit changes in monetary policy to examine whether the pass-through of borrowing costs is affected …

that the SSM reduced competition for SSM banks in countries affected by the sovereign debt crisis. Otherwise, the impact of … the SSM was limited or competition increased. Furthermore, our results suggest that anti-competitive side effects of the …

engeren Wettbewerb. Das Effizienzprinzip bewirkt, dass neue finanzielle Arrangements attraktiv werden. Die grundsätzlich …