This paper explores the degree of competition among each of several major categories of Swiss banks, using a structural econometric model. Conduct is found to vary across ownership structures, with foreign-owned banks exhibiting the most market power and state-owned or mutual banks the least....

Using several samples of forward exchange rate forecasts for the British pound vs. the US dollar, this article explores the post-sample predictive performance of adjusting the forecasts for recent empirical bias. Numerical accuracy is assessed via both parametric and nonparametric tests, and...

Practitioners, regulators and researchers have long recognized important conceptual distinctions among screening, monitoring and collection of loans. However, virtually no empirical studies have explored whether these tools of risk management are employed as net substitutes or as net...

Using data from metropolitan U.S. labor market areas, the authors quantify empirical associations between entry by small firms and multiple economic outcomes including levels, growth rates, and volatilities of income and employment. The inclusion of volatilities, motivated by prior studies,...

We apply the Bresnahan--Lau model (1982) to test the degree of competition of China's banking industry over the period 1986 to 2011. Results strongly reject monopoly power and indicate perfectly competitive behaviour. China's entry into the WTO did not cause any measurable shift in banking...

Several theories of externalities and asymmetric information suggest a positive role for government programs to assist credit markets, though potential distortions by special interests carry attendant dangers. The authors examine the empirical association between funding by several federal...

Even after controlling for other observable factors, reciprocal deposits are associated with higher bank risk as measured by the probability of failure and the <italic>Z</italic>-score. These results are consistent with the moral hazard hypothesis and reject the risk substitution hypothesis.