Since bank credit lines are a major source of corporate funding, we examine the determinants of credit line usage with a comprehensive database of Spanish corporate credit lines. A line’s default status is a key factor driving its usage, which increases as a firm’s financial condition...

A common assumption in the academic literature is that franchise value plays a key role in limiting bank risk-taking. As market power is the primary source of franchise value, reduced competition in banking markets has been seen as promoting banking stability. We test this hypothesis using data...

We estimate a structural model of the market for automatic tellermachines (ATMs) in order to evaluate the implications of regulating ATMsurcharges on ATM entry and consumer and producer surplus. We estimatethe model using data on firm and consumer locations, and identify theparameters of the...