Financial Intermediation, Competition, and Risk.
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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Full text (MCPHS users only) |
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| Format: | Electronic eBook |
| Language: | English |
| Published: |
Washington :
International Monetary Fund,
2009
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| Series: | IMF Working Papers.
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| Subjects: | |
| Local Note: | ProQuest Ebook Central |
