This paper examines (1) the change in commercial banks’ risk taking as states in the United States removed restrictions on bank branching within state borders and (2) the channels through which the removal of these restrictions affect bank risk taking. I find that, after the liberalization of...

This paper studies how a bank's diversification affects its own risk taking behavior and the risk taking of competing, nondiversified banks. In particular, I test whether greater geographic diversification of banks has effects on the risk taking behavior of nondiversified competitors beyond...

We assess the effects from the industrial policy of growing state-controlled national champions on the Russian banking system, its concentration and competitiveness. Some light is shed on comparative financial performance of state-controlled banks versus other market participants. We also show...

We assess the effect that the industrial policy of growing state-controlled national champions in Russia had on concentration and competitiveness of the banking system in 2000—2012. A modified method of calculating the indicators of market concentration suggests that the main segments of the...

I develop a structural model of mortgage demand and lender competition to study how leverage regulation affects the equilibrium in the UK mortgage market. Using variation in risk-weighted capital requirements across lenders and across mortgages with differential loan-to-values, I show that a...

This working paper examines the degree of collusion in the banking sector of Hong Kong based on the conjectural variation approach. The results suggest that banks in Hong Kong operated in a competitive fashion in the loan market during the period 1991-2002 with no significant sign of collusion...

Empirical literature and related legal practice using concentration as a proxy for competition measurement are prone to a fallacy of division, as concentration measures are appropriate for perfect competition and perfect collusion but not intermediate levels of competition. Extending the classic...