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Keywords:Banking structure 

Journal Article
Statement to Congress, November 18, 1987 (modernizing our financial system)

Federal Reserve Bulletin , Issue Jan , Pages 20-27

Working Paper
The adverse selection approach to financial intermediation: some characteristics of the equilibrium financial structure

This paper examines an adverse selection economy in which efficient resource allocation is supported by intermediary contracts (coalitions). Agents differ along an ex ante publicly observable dimension, so that the equilibrium arrangement yields a diverse set of financial arrangements among borrowers, lenders and intermediaries. Loans made by intermediaries would appear to be mispriced relative to a naive benchmark that ignores the (unobservable) adverse selection aspects of the environment. The model also yields an equilibrium mix of intermediated and direct finance which is broadly ...
Working Paper , Paper 95-05

Journal Article
Recent changes in the structure of commercial banking

Federal Reserve Bulletin , Issue Mar

Working Paper
Market structure and competition among retail depository institutions

We assess the competitive impact that single-market banks and thrift institutions have on multi-market banks (and vice-versa) in 1,884 non- MSA markets. We estimate a model of equilibrium market structure which endogenizes entry for three types: multi-market banks, single-market banks, and thrift institutions. Observed market structures and the solution to an entry-type game identify the parameters of a latent (unobserved) profit function. We find significant evidence of product differentiation-- particularly in the case of thrifts. Furthermore, product differentiation appears to depend upon ...
Finance and Economics Discussion Series , Paper 2004-04

Journal Article
Banking market structure in the West

FRBSF Economic Letter

Journal Article
Statement to Congress, December 1, 1987 (modernizing U.S. financial system)

Federal Reserve Bulletin , Issue Feb

Conference Paper
Structure - performance relationships in regional banking markets

Proceedings , Paper 177

Journal Article
Changes in the structure of urban banking markets in the West

This paper begins with a discussion of the influence of the number of firms and the variance of market shares on the Herfindahl-Hirschman Index (HHI) measure of market concentration. ; The paper then reports the changes in the number of depository institutions (DIs) and in the HHI in the Twelfth District and its 65 individual urban banking markets between 1982 and 1992, attributing these changes to underlying causes. I find that, although an increase in concentration need not accompany a decrease in firms, more than two-thirds of the 53 markets with DI decreases showed concentration ...
Economic Review

Journal Article
What makes a bank efficient? : a look at financial characteristics and management and ownership structure

Increased competition, new technology, and bank consolidation are reinforcing the need for banks to operate efficiently. Moreover, recent research on banking efficiency shows that there is much room for reducing expenses and making better use of bank resources. This article compares the financial characteristics, as well as the management and ownership structure, of a sample of efficient and inefficient banks from the Tenth Federal Reserve District. The comparison reveals a number of factors that contribute to bank efficiency. ; Efficient banks control all aspects of costs, yet deliver bank ...
Financial Industry Perspectives , Issue Dec , Pages 1-19

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