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Concurrence imparfaite et stratégie bancaire

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  • Jean-Charles Rochet

Abstract

[eng] Imperfect competition and banking strategy J.-C. Rochet. . We model banking competition through a sequential game, with three types of strategies : . - portfolio activities . - deposits and loans activities (medium run) . - physical investments (long run) . Our main results are the following : . - contrarily to the classical results of Pyle-Hart Jaffee, banks hold heteregenous portfolios which can be split into hedging portfolios (linked to the deposits and loans activity) and investment portfolios. . -market shares in deposits and loans increase with physical investments and decrease with risk aversion of banks. . -long run equilibria are in general asymmetric. [fre] Concurrence imparfaite et stratégie bancaire. . Nous modélisons les comportements des banques commerciales en utilisant la méthodologie des jeux séquentiels. Nous distinguons trois types de stratégies:. - les stratégies de court terme (activités de marché) ;. - les stratégies de moyen terme (activités clientèle) ;. - les stratégies de long terme (investissements physiques).. Les principaux résultats obtenus sont les suivants :. -contrairement aux résultats de Pyle-Hart Jaffee, les portefeuilles de titres détenus à l'équilibre par les banques sont hétérogènes et peuvent se décomposer en portefeuilles de couverture (liés à l'activité clientèle) et en portefeuilles de placement ;. -les parts de marché dans l'activité clientèle (dépôts et crédits) sont croissantes avec les investissements physiques réalisés et décroissantes avec le coefficient d'aversion au risque des actionnaires ;. -les équilibres de long terme sont en général asymétriques, certaines banques choisissant des investissements physiques importants, alors que d'autres se contentent d'investissements minimaux.

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Bibliographic Info

Article provided by Programme National Persée in its journal Revue économique.

Volume (Year): 43 (1992)
Issue (Month): 2 ()
Pages: 261-276

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Handle: RePEc:prs:reveco:reco_0035-2764_1992_num_43_2_409352

Note: DOI:10.2307/3501992
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Web page: http://www.persee.fr/web/revues/home/prescript/revue/reco

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