. At the transition point there is a jumpin risk taking, as private banks do not internalize the social costs of bank … data complementing existing evidence that financial instability is highest when bank control is capturedby small lobbies. …

competitive environment affect bank monitoring choices and the effectiveness of capital regulation? Our approach deviates from the …

from bank defaults across the member countries. At the same time, however, the banking union will resort to bank bailouts … more often, distorting risk incentives of banks. For low bank liquidation costs, the net welfare effect of a banking union …

removing barriers to bank entry on bank competition and economic growth. As governments were not concerned about systemic … stability in this period, we are able to isolate the effects of bank competition from those of state implicit guarantees. We … find that the introduction of free banking laws stimulated the creation of new banks and led to more bank failures. Our …

six business model components and discuss how these adjust to post-crisis financial developments. Specifically, bank …