أعرض تسجيلة المادة بشكل مبسط

dc.creator Fecht, Falko
dc.creator Martin, Antoine
dc.date 2005
dc.date.accessioned 2013-10-16T07:06:33Z
dc.date.available 2013-10-16T07:06:33Z
dc.date.issued 2013-10-16
dc.identifier http://hdl.handle.net/10419/19737
dc.identifier ppn:498455165
dc.identifier RePEc:zbw:bubdp2:4259
dc.identifier.uri http://koha.mediu.edu.my:8181/xmlui/handle/10419/19737
dc.description Following Diamond (1997) and Fecht (2004) we use a model in which financial market access of households restrains the efficiency of the liquidity insurance that banks' deposit contracts provide to households that are subject to idiosyncratic liquidity shocks. But in contrast to these approaches we assume spacial monopolistic competition among banks. Since monopoly rents are assumed to bring about inefficiencies, improved financial market access that limits monopoly rents also entails a positive effect. But this beneficial effect is only relevant if competition among banks does not sufficiently restrain monopoly rents already. Thus our results suggest that in the bank-dominated financial system of Germany, in which banks intensely compete for households' deposits, improved financial market access might reduce welfare because it only reduces risk sharing. In contrast, in the banking system of the U.S., with less competition for households' deposits, a high level of households' financial market participation might be beneficial.
dc.language eng
dc.relation Discussion Paper, Series 2: Banking and Financial Supervision 2005,04
dc.rights http://www.econstor.eu/dspace/Nutzungsbedingungen
dc.subject G21
dc.subject E44
dc.subject G10
dc.subject ddc:330
dc.subject Financial Intermediaries
dc.subject Risk Sharing
dc.subject Banking Competition
dc.subject Comparing Financial Systems
dc.subject Finanzmarkt
dc.subject Privater Haushalt
dc.subject Bank
dc.subject Wettbewerb
dc.subject Monopolistischer Wettbewerb
dc.subject Wohlfahrtseffekt
dc.subject Deutschland
dc.subject risk sharing
dc.title Banks, markets, and efficiency
dc.type doc-type:workingPaper


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أعرض تسجيلة المادة بشكل مبسط