Income inequality in many countries has risen recently. Using aggregate data of 22 countries, this paper provides a new evidence about the factor which might contribute to the rise in income inequality. The main finding is that the lack of competition, which is measured as the rise in markup,...

The EU agenda for improving competitiveness is missing in action. Economic competitiveness has been a central plank in the development of the European Union - a relentless quest for policies that lead to more prosperity and that make European companies in world markets more successful. However,...

We model the impact of bank mergers on loan competition, banks' reserve holdings and aggregate liquidity. Banks compete in a differentiated loan market, hold reserves against liquidity shocks, and refinance in the interbank market. A merger creates an internal money market that induces financial...