TY  - UNPD
A1  - Carletti, Elena
A1  - Hartmann, Philipp
A1  - Spagnolo, Giancarlo
T1  - Bank mergers, competition and liquidity
T2  - Center for Financial Studies (Frankfurt am Main): CFS working paper series ; No. 2006,08
N2  - We model the impact of bank mergers on loan competition, reserve holdings and aggregate liquidity. A merger changes the distribution of liquidity shocks and creates an internal money market, leading to financial cost efficiencies and more precise estimates of liquidity needs. The merged banks may increase their reserve holdings through an internalization effect or decrease them because of a diversification effect. The merger also affects loan market competition, which in turn modifies the distribution of bank sizes and aggregate liquidity needs. Mergers among large banks tend to increase aggregate liquidity needs and thus the public provision of liquidity through monetary operations of the central bank. Klassifikation: D43, G21, G28, L13
T3  - CFS working paper series - 2006, 08 
KW  - credit market competition
KW  - bank seserves
KW  - internal money market
KW  - banking system liquidity
KW  - monetary operations
KW  - Industriestaaten
KW  - Bank
KW  - Kapitalkonzentration
KW  - Konzentration <Wirtschaft>
KW  - Unternehmenskonzentration
KW  - Bankenliquidität
KW  - Kreditmarkt
KW  - Wettbewerb
KW  - Wettbewerbsfreiheit
KW  - Wettbewerbsfähigkeit
Y1  - 2006
UR  - http://publikationen.ub.uni-frankfurt.de/frontdoor/index/index/docId/2807
UR  - https://nbn-resolving.org/urn:nbn:de:hebis:30-25993
ER  -