We establish that the effect of intensified deposit market competition, measured by reduced switching costs, on the probability of bank failures depends critically on whether we focus on competition with established customer relationships or competition for the formation of such relationships....

We evaluate the effects of ring-fencing on lending market competition, and thereby on banks' risk-taking as well as taxpayers' risk exposure. We show analytically that strong ring-fencing intensifies lending market competition, reduces bank profits, and increases borrower and consumer surplus...

U.S. venture capital (VC) firms have provided the startup funding needed by many technology firms. However, bank-funded VC in Europe has been less successful with innovative new firms.Project evaluation is cited as a basis for VC funding decisions, but few studies have analyzed project...

We study the implications of product market competition and investment for price setting, wage bargaining and thereby for equilibrium unemployment in an economy with product and labour market imperfections. We show that intensified product market competition will reduce equilibrium unemployment,...