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The Impact Of Concentration And Regulation On Competition In The Dutch Mortgage Market

Author

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  • Machiel Mulder

Abstract

This article investigates the effects of industry structure and regulatory pricing constraints on competition in the Dutch mortgage market during the global financial crisis that began in 2008. This highly concentrated market became even more concentrated following the financial crisis, when some major banks became subject to price constraints imposed by the European Commission. I estimate the impact of these events on the Lerner Index per bank subsidiary over the period from 2005 to 2010. Correcting for the influence of credit default, prepayment, and funding risks, I find that the increase in concentration of firms had a negative impact on competition in the Dutch mortgage market. I also find indications that the regulatory pricing constraints imposed by the European Commission negatively influenced competition.

Suggested Citation

  • Machiel Mulder, 2014. "The Impact Of Concentration And Regulation On Competition In The Dutch Mortgage Market," Journal of Competition Law and Economics, Oxford University Press, vol. 10(4), pages 795-817.
    • Handle: RePEc:oup:jcomle:v:10:y:2014:i:4:p:795-817.
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    File URL: http://hdl.handle.net/10.1093/joclec/nhu008
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    Cited by:

    1. Andreas Dietrich, 2016. "What Drives the Gross Margins of Mortgage Loans? Evidence from Switzerland," Journal of Financial Services Research, Springer;Western Finance Association, vol. 50(3), pages 341-362, December.

    More about this item

    JEL classification:

    • C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation
    • L11 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Production, Pricing, and Market Structure; Size Distribution of Firms

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