This paper studies banks' competitive behavior on the deposit side of the Italian retail banking industry. We use a structural model to estimate demand for deposit services and test several supply models. We find that both the competitive, differentiated product Bertrand and the perfectly...

[fre] Structure par terme des taux d'intérêt, volatilité et prime de risque : . applications au marché de l'Eurolire . par Francesco Drudi et Roberto Violi . Cet article est consacré au contenu en information de la structure par terme des taux d'intérêt pour le marché de l'Eurolire. À...

With the help of financial engineering – and equipped with the modern technique of risk management – securitisation was supposed to identify and evaluate risks and parcel them out to informed parties who could bear them. In hindsight, we can see that this somewhat simplistic thesis –...