The paper studies the effects of trade and industrial policy towards two imperfectly competitive Norwegian industries - ski production and Caribbean cruise shipping. The former is an import-competing industry in which consumer prices and product selection are the key issues; the latter is a pure...

In a model where banks play an active role in monitoring borrowers, we analyze the impact of securitization on bankers’ incentives across different macroeconomic scenarios. We show that securitization can be part of the optimal financing scheme for banks, provided banks retain an equity...

<em>Size and concentration of Italian banking groups over the last decade</em> - The paper analyzes the change in the size distribution of Italian banking groups over the period 1999 to 2007 following a wave of M&As among large banks. Had this process increased the degree of concentration we would have...

In this study branching costs and competitiveness of European banks are measured by fitting a monopolistic competition model to a representative sample drawn from nine EEC banking industries in the period from 1990 to 1996. In the theoretical model, banks decide strategically the size of their...