Agénor, Pierre-Richard (contributor); … - 2008 - Rev.
analysis considers a bank-only world where intermediaries compete in Cournot fashion and monitoring and state verification are … affect the
welfare effects of forming a currency union. The analysis considers a
bank-only world where intermediaries compete … has been convergence in prime lending rates, interest rate
spreads remain large. Indeed, the World Bank (2004) found that …