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substantial upward bias in bank productivity estimates when ignoring banks' IT expenditures. IT-augmented bank productivity …
Persistent link: https://www.econbiz.de/10013067144
banks in Poland. We combine publicly available information with two unique, hand-collected datasets on the geo-location of … all bank branches and on small banks' Internet and social media presence. We find that late-adopting banks must forego …-power sacrifice is smaller when small banks primarily compete against their peers within local banking markets than against larger …
Persistent link: https://www.econbiz.de/10012996918
This study investigates the relationship between bank market power and firms’ financing constraints, indicated by the likelihood of being discouraged from applying for bank loans. The full data sample covers more than 72,000 small and medium-size enterprises (SMEs) in 113 countries around the...
Persistent link: https://www.econbiz.de/10014305637
banks in local markets for different categories of depositors, we investigate the long-run price effects of M&As for the …
Persistent link: https://www.econbiz.de/10005113523
by individual banks in local markets to different categories of depositors, we investigate for the first time the long …
Persistent link: https://www.econbiz.de/10005450653
We are constructing an imperfect competition general equilibrium model, with non-consumable money and labor market; our toolkit is an equilibrium default model of Shubik-Wilson (1978). Our result has an ‘equilibrium volatility' simultaneously occurring at all three markets: labor, goods, and...
Persistent link: https://www.econbiz.de/10012895423
Low key rates hurt the profits of deposit-taking institutions in a differentiated Bertrand game if there is neither a tax on banknotes, nor a limit on its quantity, nor a reduction of its quality. By making the electronic dollar the unit of account and taxing paper currency, the central bank can...
Persistent link: https://www.econbiz.de/10012856188
This paper surveys the literature on the linkages between asset prices and macroeconomic outcomes. It focuses on three major questions. First, what are the basic theoretical linkages between asset prices and macroeconomic outcomes? Second, what is the empirical evidence supporting these...
Persistent link: https://www.econbiz.de/10012060200
This paper surveys the theoretical and empirical literature on the macroeconomic implications of financial imperfections. It focuses on two major channels through which financial imperfections can affect macroeconomic outcomes. The first channel, which operates through the demand side of finance...
Persistent link: https://www.econbiz.de/10012060201
dynamics of bank relationships after corporate acquisitions and the effects of changing banks on firm performance. Foreign … acquirers do not rely on internal capital markets but keep targets' domestic banks. With more domestic banks, firms increase … fixed capital and trade credit. In contrast, domestic acquirers remove domestic but add foreign banks. The latter mainly …
Persistent link: https://www.econbiz.de/10012797240