Financial Intermediation, Competition, and Risk : A General Equilibrium Exposition /
We study a simple general equilibrium model in which investment in a risky technology is subject to moral hazard and banks can extract market power rents. We show that more bank competition results in lower economy-wide risk, lower bank capital ratios, more efficient production plans and Pareto-rank...
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| Aineistotyyppi: | Aikakauslehti |
| Kieli: | English |
| Julkaistu: |
Washington, D.C. :
International Monetary Fund,
2009.
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| Sarja: | IMF Working Papers; Working Paper ;
No. 2009/105 |
| Linkit: | Full text available on IMF |