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Keywords:Banking structure 

Working Paper
Market structure and quality: an application to the banking industry

This paper presents empirical evidence consistent with the predictions of the endogenous sunk cost model of Sutton (1991), with an application to banks. In particular, banking markets remain concentrated regardless of market size. Given an asymmetric oligopoly where dominant and fringe firms coexist, the number of dominant banks remains unchanged with market size, with only the number of fringe banks varying across markets. Such structure is sustained by competitive investments in quality, with the level of quality increasing with market size and dominant banks providing higher quality than ...
Finance and Economics Discussion Series , Paper 2003-14

Conference Paper
Relationship banking : a successful alternative to scale

Proceedings , Paper 929

Journal Article
How does ownership structure and manager wealth influence risk? : a look at ownership structure, manager wealth, and risk in commercial banks

Bank managers, stockholders, and directors must work closely together in deciding what risks their bank will assume and how to control the bank's overall risk exposure. Each decision-maker will have to understand the risk preferences of others in order to make mutually acceptable decisions and develop policies that reflect all of their concerns. To the extent that weak risk control is tied to management and ownership structure, bank examiners must also understand the basic components of a sound management and ownership structure if the examiner is to suggest corrective steps for a problem ...
Financial Industry Perspectives , Issue Dec , Pages 15-40

Working Paper
Central bank responsibility, seigniorage, and welfare

Historically, countries have relied on seigniorage. In this paper, we explore a set of features in which a benevolent government will rely on seigniorage. We use a simple overlapping generations model with return-dominated money. Money is valued because of a reserve requirement. The government has to raise a fixed amount of revenue solely for the purposes of making transfers to the old. It has two revenue-generating options: lump-sum taxes (money creation) under the control of the treasury (central bank). We restrict the amount of seigniorage collected to be nonnegative and require that the ...
Working Papers , Paper 9909

Working Paper
Foundations of the structure-conduct-performance paradigm

Finance and Economics Discussion Series , Paper 83

Conference Paper
Market structure and quality : an application to the banking industry

Proceedings , Paper 844

Journal Article
Banking industry consolidation and market structure: impact of the financial crisis and recession

The number of U.S. commercial banks and savings institutions declined by 12 percent between December 31, 2006, and December 31, 2010, continuing a consolidation trend begun in the mid-1980s. Banking industry consolidation has been marked by sharply higher shares of deposits held by the largest banks?the 10 largest banks now hold nearly 50 percent of total U.S. deposits. However, antitrust policy is predicated on the assumption that banking markets are local in nature, and enforcement has focused on preventing bank mergers from increasing the concentration of local banking markets. The author ...
Review , Volume 93 , Issue Nov , Pages 419-438

Journal Article
A comparison of proposals to restructure the U.S. financial system

Review , Issue Jul , Pages 58-75

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