Author: Daniel BergstresserPublisher:
ISBN:
Category :
Languages : en
Pages :
Book Description
Banking Market Concentration and Consumer Credit Constraints
Author: Daniel BergstresserBanking Market Cncentration and Consumer Credit Constraints
Author: Daniel BergstresserPublisher:
ISBN:
Category :
Languages : en
Pages : 19
Book Description
This paper uses data from the 1983 Survey of Consumer Finances to test the relationship between the banks' market power and households' self-reported levels of credit constraints. The 1983 Survey was the last to identify households' geographic location, making it useful for this analysis. There is evidence that borrowers, and particularly young borrowers, were less credit-constrained in markets where banks enjoyed more market power. Interest rates on consumer borrowing decreased more sharply with age in competitive markets than in concentrated markets. These results are consistent with the Sharpe (1990) and Petersen-Rajan (1995) models of information acquisition in credit markets.
Consumer Credit in the United States
Author: United States. National Commission on Consumer FinancePublisher:
ISBN:
Category : Consumer credit
Languages : en
Pages : 324
Book Description
The Economics of Consumer Credit
Author: Giuseppe BertolaPublisher: MIT Press
ISBN: 0262026015
Category : Consumer credit
Languages : en
Pages : 389
Book Description
Cross-national analysis of empirical, theoretical, and policy issues in the consumer credit industry, including household debt, credit card usage, and bankruptcy.
Credit Supply and Productivity Growth
Author: Francesco ManaresiPublisher: International Monetary Fund
ISBN: 1498315917
Category : Business & Economics
Languages : en
Pages : 75
Book Description
We study the impact of bank credit on firm productivity. We exploit a matched firm-bank database covering all the credit relationships of Italian corporations, together with a natural experiment, to measure idiosyncratic supply-side shocks to credit availability and to estimate a production model augmented with financial frictions. We find that a contraction in credit supply causes a reduction of firm TFP growth and also harms IT-adoption, innovation, exporting, and adoption of superior management practices, while a credit expansion has limited impact. Quantitatively, the credit contraction between 2007 and 2009 accounts for about a quarter of observed the decline in TFP.
Asymmetric Information and the Market Structure of the Banking Industry
Author: Mr.Giovanni Dell'AricciaPublisher: International Monetary Fund
ISBN: 145195154X
Category : Business & Economics
Languages : en
Pages : 32
Book Description
The paper analyzes the effects of informational asymmetries on the market structure of the banking industry in a multi-period model of spatial competition. All lenders face uncertainty with regard to borrowers’ creditworthiness, but, in the process of lending, incumbent banks gather proprietary information about their clients, acquiring an advantage over potential entrants. These informational asymmetries are an important determinant of the industry structure and may represent a barrier to entry for new banks. The paper shows that, in contrast with traditional models of horizontal differentiation, the steady-state equilibrium is characterized by a finite number of banks even in the absence of fixed costs.
Bank Competition and Financial Stability
Author: Mr.Gianni De NicoloPublisher: International Monetary Fund
ISBN: 1463927290
Category : Business & Economics
Languages : en
Pages : 39
Book Description
We study versions of a general equilibrium banking model with moral hazard under either constant or increasing returns to scale of the intermediation technology used by banks to screen and/or monitor borrowers. If the intermediation technology exhibits increasing returns to scale, or it is relatively efficient, then perfect competition is optimal and supports the lowest feasible level of bank risk. Conversely, if the intermediation technology exhibits constant returns to scale, or is relatively inefficient, then imperfect competition and intermediate levels of bank risks are optimal. These results are empirically relevant and carry significant implications for financial policy.
Bank Concentration and Crises
Author: Publisher: World Bank Publications
ISBN:
Category :
Languages : en
Pages : 48
Book Description
FDIC Quarterly
Author: Microeconometrics of Banking
Author: Hans DegrysePublisher: Oxford University Press, USA
ISBN: 0195340477
Category : Business & Economics
Languages : en
Pages : 249
Book Description
This title provides a compendium to recent work in empirical banking. It follows the structure in 'The Microeconomics of Banking' by Xavier Freixas and Jean Charles Rochet in arranging the relevant methodologies, applications and results to achieve a coherent synthesis between available theory and supporting empirics.