addition to general sluggishness, bank deposit rates' reactions are clearly asymmetric: flexible when market rates are …

deposit facility to retail CBDC—during a bank run in a regime of uninsured bank deposits. I study the 1931 bank run in Spain …This paper provides empirical evidence on the behaviour of non-remunerated central bank retail deposits—an analogous … data that allows for capturing the extent of the bank run and the variation in central bank retail deposits at the city …

A common assumption in the academic literature is that franchise value plays a key role in limiting bank risk …-taking. As market power is the primary source of franchise value, reduced competition in banking markets has been seen as … of market concentration do not affect bank risk-taking. However, we find a negative relationship between market power …

This paper examines the nature of competition in the Spanish banking industry during the years before and after Spain … joined the European Monetary Union (EMU). The paper models competition in a product-differentiated market where banks choose … representative bank in response to the historically low official interest rates of the post Euro period. The results show that there …

Policy efforts to revitalise entrepreneurship and investment in Spain are key to generating growth and new jobs. The … government has a substantial reform program to make it easier to do business in Spain, which should in some cases be deepened … procedures, internationalisation needs to be fostered, and competition strengthened. In addition, the negative impact of the …