process of interstate bank deregulation that lowered barriers to competition across U.S. states over the 1980s and 1990s with … facing each individual bank. We find that regulatory-induced competition reduced liquidity creation. Consistent with some …Does an intensification of competition among banks increase or decrease liquidity creation? By integrating the dynamic …

sensitivity of deposit flows to bank performance. The fragility is stronger when the aggregate conditions in the banking system …

taking place for retail banking. Data on cross-border retail bank flows, cross-border bank mergers and the law of one price … reveal no evidence of integration in retail banking. This paper shows that the previous tests of bank integration are weak in … that they are not based on an equilibrium concept and are neither necessary nor sufficient statistics for bank integration …

traditional partnership replaced by public companies. The organizational change has increased the competition for managerial … talent, which may have weakened the commitment between investors and managers. We show how increased competition and the …

their investors. We show the bank has to have a fragile capital structure, subject to bank runs, in order to perform these … functions. Far from being an aberration to be regulated away, the funding of illiquid loans by a bank with volatile demand … such as narrow banking and bank capital requirements …

We study a modification of the Diamond and Dybvig (1983) model in which the bank may hold a liquid asset, some … depositors see sunspots that could lead them to run, and all depositors have incomplete information about the bank's ability to … survive a run. The incomplete information means that the bank is not automatically incentivized to always hold enough liquid …

competition reduces bank opacity, enhancing the ability of markets and regulators to monitor banks …Did regulatory reforms that lowered barriers to competition among U.S. banks increase or decrease the quality of … information that banks disclose to the public and regulators? We find that an intensification of competition reduced abnormal …

-local firms. They therefore mostly buy locally, limiting firms' potential market size (and competition). We explore this …