| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP4248 |
| DP4248 Old Sins: Exchange Rate Clauses and European Foreign Lending in the 19th Century | |
| Marc Flandreau; Nathan Sussman | |
| 发表日期 | 2004-02-23 |
| 出版年 | 2004 |
| 语种 | 英语 |
| 摘要 | We model the impact of bank mergers on loan competition, reserve holdings and aggregate liquidity. A merger creates an internal money market that affects reserve holdings and induces financial cost advantages, but also withdraws liquidity from the interbank market. We assess changes in liquidity needs for each bank and for the banking system as a whole, and relate them to the degree of loan market competition. Large mergers tend to increase aggregate liquidity needs, and thus the liquidity provision in monetary operations by the central bank. Fiercer loan market competition seems to be beneficial for aggregate liquidity in industrial countries. |
| 主题 | Financial Economics ; International Macroeconomics ; Industrial Organization |
| 关键词 | Credit market competition Bank reserves Internal money market Banking system liquidity |
| URL | https://cepr.org/publications/dp4248 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/533214 |
| 推荐引用方式 GB/T 7714 | Marc Flandreau,Nathan Sussman. DP4248 Old Sins: Exchange Rate Clauses and European Foreign Lending in the 19th Century. 2004. |
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