This paper uses a Merton-type estimate of the probability of default (PoD) for the main banks in a sample of … Organization for Economic Cooperation and Development and middle-income countries as a proxy for the fragility of their banking …

knowledge production function and intertemporal spillover effects using cointegration techniques. Time-series evidence suggests …

We study a banking model in which banks invest in a riskless asset and compete in both deposit and risky loan markets … explore these predictions empirically using a cross-sectional sample of 2,500 U.S. banks in 2003, and a panel data set of … about 2600 banks in 134 non-industrialized countries for the period 1993-2004. With both samples, we find that banks …

competitive conduct of financial institutions and banking system fragility. Using the Panzar and Rosse H-Statistic as a measure … for competition in 38 countries during 1980-2003, we present evidence that more competitive banking systems are less prone …, and alternative samples. …

account the potential two-way causality. We find that, while sounder banks tend to grow faster at moderate-growth periods …

We apply the fundamentals equilibrium exchange rate (FEER) approach and the Johansen cointegration methodology to …

issues in forecasting and structural analysis. An application to the estimation of a system of time-varying reaction … functions for four European central banks under the European Monetary System (EMS) illustrates how some of the results …