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Multimarket contact, competition and pricing in banking

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  • Coccorese, Paolo
  • Pellecchia, Alfonso

Abstract

In this paper we assess the impact of multimarket contact of banks on their market power by means of a simultaneous equation model, in which the divergence of price from marginal cost is a function of multimarket linkages. The model is estimated using aggregate data from the Italian regions for the years 1997–2009. Our results show that multimarket contact is positively and significantly correlated to the market power index, and is also connected to both home and non-home market concentration. The evidence is robust to changes in model specification and multimarket contact measures, and supports the idea that firms which have a greater amount of contact are more likely to collude.

Suggested Citation

  • Coccorese, Paolo & Pellecchia, Alfonso, 2013. "Multimarket contact, competition and pricing in banking," Journal of International Money and Finance, Elsevier, vol. 37(C), pages 187-214.
  • Handle: RePEc:eee:jimfin:v:37:y:2013:i:c:p:187-214
    DOI: 10.1016/j.jimonfin.2013.06.010
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    2. Memić Deni, 2015. "Banking Competition and Efficiency: Empirical Analysis on the Bosnia and Herzegovina Using Panzar-Rosse Model," Business Systems Research, De Gruyter Open, vol. 6(1), pages 72-92, March.
    3. repec:bla:ecnote:v:46:y:2017:i:3:p:527-554 is not listed on IDEAS
    4. Degl’Innocenti, Marta & Girardone, Claudia & Torluccio, Giuseppe, 2014. "Diversification, multimarket contacts and profits in the leasing industry," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 31(C), pages 231-252.

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    Keywords

    Banking; Competition; Market structure; Conduct; Regional analysis;

    JEL classification:

    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • L10 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - General
    • L13 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Oligopoly and Other Imperfect Markets

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