| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP6650 |
| DP6650 Monetary Factors and Inflation in Japan | |
| Stefan Gerlach; Katrin Assenmacher-Wesche; Toshitaka Sekine | |
| 发表日期 | 2008-01-25 |
| 出版年 | 2008 |
| 语种 | 英语 |
| 摘要 | A large theoretical literature shows that competition reduces banks' franchise values and induces them to take more risk. Recent research contradicts this result: When banks charge lower rates, their borrowers have an incentive to choose safer investments, so they will in turn be safer. However, this argument does not take into account the fact that lower rates also reduce the banks' revenues from non-defaulting loans. This paper shows that when this effect is taken into account, a U-shaped relationship between competition and the risk of bank failure generally obtains. |
| 主题 | Financial Economics ; Industrial Organization |
| 关键词 | Bank competition Bank failure Credit risk Default correlation Franchise values Loan defaults Loan rates Moral hazard Net interest income Risk-shifting |
| URL | https://cepr.org/publications/dp6650 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/535494 |
| 推荐引用方式 GB/T 7714 | Stefan Gerlach,Katrin Assenmacher-Wesche,Toshitaka Sekine. DP6650 Monetary Factors and Inflation in Japan. 2008. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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