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Financial Innovation and Competition among Intermediaries

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Author Info
Gottardi, P.
Yanelle, M. O.

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Abstract

We analyze the competition among financial intermediaries in a model with product differentiation. The cases of one-sided competition, where banks compete in bid-ask spreads, and two-sided competition, where they compete for deposits and for loans separately, are compared. We show that under two-sided competition equilibrium profits and bid-ask spreads are lower and banks choose a smaller amount of differentiation, i.e., competition is fiercer in this case.

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Publisher Info
Paper provided by DELTA (Ecole normale supérieure) in its series DELTA Working Papers with number 98-02.

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Date of creation: 1998
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Handle: RePEc:del:abcdef:98-02

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  1. Frédérique Bracoud, 2002. "Sequential Models of Bertrand Competition for Deposits and Loans under Asymmetric Information," Keele Economics Research Papers KERP 2002/15, Centre for Economic Research, Keele University. [Downloadable!]
    Other versions:
  2. Ari Hyytinen, 2001. "Information Production, Banking Competition and the Market Structure of the Banking Industry," Discussion Papers 749, The Research Institute of the Finnish Economy. [Downloadable!]
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This page was last updated on 2008-8-16.


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