We study how information sharing between banks influences the geographical clustering of branches. A spatial oligopoly model first explains why branches cluster and how information sharing impacts price competition and equilibrium clustering. With data on 59,333 branches of 676 banks in 22...

The incidence of mis-selling, fraud, and poor customer service by retail banks is significantly higher in areas with higher proportions of poor and minority borrowers and in areas where government regulation promotes an increased quantity of lending. Specifically, low-to-moderate-income (LMI)...

The recent financial crisis led to the expansion of deposit-insurance coverage in many countries. We develop a structural model of the banking market, in which banks act as financial intermediaries between consumers who have funds and businesses that seek loans, and explore the implications of...

Italian Abstract: L'articolo analizza il processo di internazionalizzazione del settore bancario dal punto di vista delle strategie delle imprese in condizioni di oligopolio. Il caso italiano è interessante da questo punto di vista per le sue dinamiche simultanee di ingresso di diversi...

This paper investigates the link between banking system expansion and economic growth. Contrary to evidence from the United States, several recent microeconomic studies from developing country settings do not find enduring effects of banking that carry over to the medium or long term. The paper...

We analyze the effectiveness of consumer financial regulation by considering the 2009 Credit Card Accountability Responsibility and Disclosure (CARD) Act. We use a panel data set covering 160 million credit card accounts and a difference-in-differences research design that compares changes in...

Without regulation, securitization allowed mortgage industry actors to gain fees and to put off risks. During the housing boom, the ability to pass off risk allowed lenders and securitizers to compete for market share by lowering their lending standards, which activated more borrowing. Lenders...

This working paper examines the degree of collusion in the banking sector of Hong Kong based on the conjectural variation approach. The results suggest that banks in Hong Kong operated in a competitive fashion in the loan market during the period 1991-2002 with no significant sign of collusion...

We analyze the relationship between loan pricing and market concentration in the US corporate loan market by creating a measure of markup using banks’ internal loan risk assessments. Our risk-adjusted measure of markup is orthogonal to the subsequent performance of loans, while a measure that...

In a famous episode of financial history which lasted over eight years, the market for the future on the Bund moved entirely from LIFFE, a London-based derivatives exchange, to DTB, a Frankfurt-based exchange. This paper studies the determinants of the observed dynamics, using a novel panel...