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Has antitrust policy in banking become obsolete?

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Author Info
Katerina Simons
Joanna Stavins
Abstract

The authors analyze the effect of bank mergers on deposit interest rates, using data on banks responding to the Federal Reserve's Monthly Survey of Selected Deposits over an 11-year period. Their results suggest that banks exercise market power in pricing money market deposits and CD's in their local markets.

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Publisher Info
Article provided by Federal Reserve Bank of Boston in its journal New England Economic Review.

Volume (Year): (1998)
Issue (Month): Mar ()
Pages: 13-26
Download reference. The following formats are available: HTML (with abstract), plain text (with abstract), BibTeX, RIS (EndNote, RefMan, ProCite), ReDIF
Handle: RePEc:fip:fedbne:y:1998:i:mar:p:13-26

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Related research
Keywords: Antitrust law ; Bank mergers ; Interest rates;

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

  1. Hannan, Timothy H., 1991. "Bank commercial loan markets and the role of market structure: evidence from surveys of commercial lending," Journal of Banking & Finance, Elsevier, vol. 15(1), pages 133-149, February. [Downloadable!] (restricted)
  2. Smirlock, Michael, 1985. "Evidence on the (Non) Relationship between Concentration and Profitability in Banking," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 17(1), pages 69-83, February. [Downloadable!] (restricted)
  3. Neumark, David & Sharpe, Steven A, 1992. "Market Structure and the Nature of Price Rigidity: Evidence from the Market for Consumer Deposits," The Quarterly Journal of Economics, MIT Press, vol. 107(2), pages 657-80, May. [Downloadable!] (restricted)
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  4. Berger, Allen N & Hannan, Timothy H, 1989. "The Price-Concentration Relationship in Banking," The Review of Economics and Statistics, MIT Press, vol. 71(2), pages 291-99, May. [Downloadable!] (restricted)
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  5. Bresnahan, Timothy F., 1989. "Empirical studies of industries with market power," Handbook of Industrial Organization, in: R. Schmalensee & R. Willig (ed.), Handbook of Industrial Organization, edition 1, volume 2, chapter 17, pages 1011-1057 Elsevier. [Downloadable!] (restricted)
  6. Hannan, Timothy H & Berger, Allen N, 1991. "The Rigidity of Prices: Evidence from the Banking Industry," American Economic Review, American Economic Association, vol. 81(4), pages 938-45, September. [Downloadable!] (restricted)
  7. Paul S. Calem & Leonard I. Nakamura, 1995. "Branch banking and the geography of bank pricing," Finance and Economics Discussion Series 95-25, Board of Governors of the Federal Reserve System (U.S.).
  8. Calem, Paul S & Carlino, Gerald A, 1991. "The Concentration/Conduct Relationship in Bank Deposit Markets," The Review of Economics and Statistics, MIT Press, vol. 73(2), pages 268-76, May. [Downloadable!] (restricted)
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  9. Prager, Robin A & Hannan, Timothy H, 1998. "Do Substantial Horizontal Mergers Generate Significant Price Effects? Evidence from the Banking Industry," Journal of Industrial Economics, Blackwell Publishing, vol. 46(4), pages 433-52, December. [Downloadable!] (restricted)
Full references

Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Asli Demirguc-Kunt & Luc Laeven & Ross Levine, 2003. "Regulations, Market Structure, Institutions, and the Cost of Financial Intermediation," NBER Working Papers 9890, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
    Other versions:
  2. Laurie Bates & Rexford Santerre, 2006. "Leviathan in the Crosshairs," Public Choice, Springer, vol. 127(1), pages 133-145, April. [Downloadable!] (restricted)
  3. Rebeca Juan, 2008. "Competition in Local Markets: Some Evidence from the Spanish Retail Banking Market," Review of Industrial Organization, Springer, vol. 32(2), pages 145-162, March. [Downloadable!] (restricted)
  4. Stijn Claessens & Thomas Glaessner & Daniela Klingebiel, 2002. "Electronic Finance: Reshaping the Financial Landscape Around the World," Journal of Financial Services Research, Springer, vol. 22(1), pages 29-61, August. [Downloadable!] (restricted)
  5. H.P. Huizinga & J.H.M. Nelissen & R. Vander Vennet, 2001. "Efficiency Effects of Bank Mergers and Acquisitions," Tinbergen Institute Discussion Papers 01-088/3, Tinbergen Institute. [Downloadable!]
  6. Allen N. Berger & Richard J. Rosen & Gregory F. Udell, 2001. "The effect of market size structure on competition: the case of small business lending," Working Paper Series WP-01-10, Federal Reserve Bank of Chicago. [Downloadable!]
    Other versions:
  7. Allen N. Berger & Seth D. Bonime & Lawrence G. Goldberg & Lawrence J. White, 1999. "The Dymanics of Market Entry: The Effects of Mergers and Acquisitions on De Novo Entry and Small Business Lending in the Banking Industry," Working Papers 99-13, New York University, Leonard N. Stern School of Business, Department of Economics. [Downloadable!]
    Other versions:
  8. Robert M. Feinberg & A.F.M. Ataur Rahman, 2006. "Are Credit Unions Just Small Banks? Determinants of Loan Rates in Local Consumer Lending Markets," Eastern Economic Journal, Eastern Economic Association, vol. 32(4), pages 647-659, Fall. [Downloadable!]
  9. Robert Feinberg, 2002. "Credit Unions: Fringe Suppliers or Cournot Competitors?," Review of Industrial Organization, Springer, vol. 20(2), pages 105-113, March. [Downloadable!] (restricted)
  10. Joanna Stavins, 2004. "Do bank mergers affect Federal Reserve check volume?," Public Policy Discussion Paper 04-7, Federal Reserve Bank of Boston. [Downloadable!]
  11. Charles Kahn & George Pennacchi & Ben Sopranzetti, 2001. "Bank Consolidation and Consumer Loan Interest Rates," Center for Financial Institutions Working Papers 01-14, Wharton School Center for Financial Institutions, University of Pennsylvania. [Downloadable!]
    Other versions:
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This page was last updated on 2009-12-6.

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