CFS working paper series
https://gfk-cfs.de/working-papers/
Refine
Year of publication
- 2006 (39) (remove)
Document Type
- Working Paper (39)
Language
- English (39) (remove)
Has Fulltext
- yes (39)
Is part of the Bibliography
- no (39)
Keywords
- USA (7)
- Bank (4)
- Geldpolitik (3)
- Risikokapital (3)
- Aktienmarkt (2)
- Contract Design (2)
- Corporate Governance (2)
- Deutschland (2)
- Europäische Union (2)
- GARCH-Prozess (2)
- Geduld (2)
- Haushalt (2)
- Housing Wealth (2)
- Kreditmarkt (2)
- Monetary Policy (2)
- Moral Hazard (2)
- OECD (2)
- Portfolio Selection (2)
- Prognose (2)
- Value at Risk (2)
- Value-at-Risk (2)
- Venture Capital (2)
- Vertrag (2)
- Währungsunion (2)
- Absatzweg (1)
- Adverse Selection (1)
- Aktienanlage (1)
- Aktienbörse (1)
- Aktienportefeuille (1)
- Altersstruktur (1)
- Anlagepolitik (1)
- Anticipatory Feeling (1)
- Arbeitslosigkeit (1)
- Arbeitsmarkt (1)
- Asset Price Bubbles (1)
- Asset Price Cycles (1)
- Asset Pricing (1)
- Asset-Backed Security (1)
- Asymmetric Information (1)
- Asymmetrische Information (1)
- Bank Lending Conditions (1)
- Bankenliquidität (1)
- Bankrott (1)
- Bayes-Entscheidungstheorie (1)
- Bevölkerungsentwicklung (1)
- Boom (1)
- Bootstrap (1)
- Buffer Stock Saving (1)
- Business Cycles (1)
- Bust (1)
- Capital Taxation (1)
- Capital-Asset-Pricing-Modell (1)
- Cohorts (1)
- Collateral Constraint (1)
- Common Factor Model (1)
- Consumer Credit (1)
- Consumption (1)
- Consumption Dynamics (1)
- Consumption Function (1)
- Credit Cards (1)
- Credit Cycles (1)
- Debit Cards (1)
- Debt-equity swap (1)
- Debt-nature swap (1)
- Decision (1)
- Deutscher Aktienindex (1)
- Devisen (1)
- Disappointment (1)
- Distribution of Welfare (1)
- Downside Risk (1)
- Effektivverzinsung (1)
- Einkommen (1)
- Endogenous Beliefs (1)
- Entscheidung bei Unsicherheit (1)
- Equity Premium (1)
- Erwartung (1)
- Euro Area and US (1)
- Financial Crisis (1)
- Finland (1)
- Finnland (1)
- Fonds (1)
- GARCH (1)
- Geschichte 1984-1995 (1)
- Geschichte 1986-1998 (1)
- Geschichte 1989-2002 (1)
- Gleichgewicht (1)
- Global Economy (1)
- Gläubiger (1)
- Großbritannien (1)
- Haushaltsdefizit (1)
- High Frequency Data (1)
- Historical Cost (1)
- Home Bias (1)
- House Prices (1)
- Household Consumption Data (1)
- Household Portfolios (1)
- Hypothekengeschäft (1)
- Incomplete Markets (1)
- Index Model (1)
- Industriestaaten (1)
- Inflation (1)
- Insurance (1)
- Intensity Models (1)
- International Capital Flows (1)
- Investment Banking (1)
- Italien (1)
- Japan (1)
- Kanada (1)
- Kapitalertrag (1)
- Kapitalgewinn (1)
- Kapitalkonzentration (1)
- Kassamarkt (1)
- Konjunkturzyklus (1)
- Konsumentenkredit (1)
- Konzentration <Wirtschaft> (1)
- Kredit (1)
- Kreditkarte (1)
- Kreditpolitik (1)
- Kreditrisiko (1)
- Krisenmanagement (1)
- Labor Market (1)
- Lack of Planning (1)
- Learning (1)
- Limited Commitment (1)
- Literacy (1)
- Lohnstarrheit (1)
- Macroeconomic News (1)
- Mark-to-market (1)
- Market Microstructure (1)
- Marktanteil (1)
- Matching (1)
- Mehrgenerationenmodell (1)
- Mergers and Acquisitions (1)
- Model Adequacy (1)
- Monte Carlo Likelihood (1)
- Mortgage Markets (1)
- Multivariate Stable Distribution (1)
- Nash Bargaining (1)
- Nichtlineares mathematisches Modell (1)
- Optimal Monetary Policy (1)
- Optimal Taxation (1)
- Optimism (1)
- Option-pricing Model (1)
- Patience (1)
- Population Aging (1)
- Portfolio Allocation (1)
- Portfolio Inertia (1)
- Portfolio Optimization (1)
- Portfoliomanagement (1)
- Portfolios (1)
- Precautionary Saving (1)
- Preisbildung (1)
- Privater Verbrauch (1)
- Progressive Taxation (1)
- Prospect Theory (1)
- Prudence (1)
- Public Policy (1)
- Real Interest Rates (1)
- Realzins (1)
- Recursive Saddlepoint Method (1)
- Regional Inflation Dynamics (1)
- Revolving Debt (1)
- Risikoverteilung (1)
- Ruhegeld (1)
- Ruhestand (1)
- Schuldverschreibung (1)
- Schweden (1)
- Schätzung (1)
- Smoothing (1)
- Sparen (1)
- Stochastic Discount Factor (1)
- Stock Market Dynamic Interactions (1)
- Stock Trading (1)
- Stockholding (1)
- Structural VAR (1)
- Sweden (1)
- Tarifverhandlung (1)
- Tying (1)
- U.S. Banking Industry (1)
- Umschuldung (1)
- Unbewegliche Sache (1)
- Under Risk (1)
- Unemployment (1)
- Universal Banking (1)
- Unobserved Component Models (1)
- Unternehmenskonzentration (1)
- Unternehmenskooperation (1)
- Unternehmenssanierung (1)
- Unternehmenszusammenschluss (1)
- VAR Modeling (1)
- Variance Decomposition (1)
- Verbrauch (1)
- Verbraucher (1)
- Vermögensumverteilung (1)
- Vermögensverteilung (1)
- Versicherungsmarkt (1)
- Versicherungsverein auf Gegenseitigkeit (1)
- Verteilungsgerechtigkeit (1)
- Wage Rigidity (1)
- Wealth Effect (1)
- Wealth Holdings (1)
- Wertpapierportefeuille (1)
- Wettbewerb (1)
- Wettbewerbsfreiheit (1)
- Wettbewerbsfähigkeit (1)
- Wirtschaftskrise (1)
- Wohlfahrtseffekt (1)
- Wohlstand (1)
- abnormal returns (1)
- bank lending (1)
- bank seserves (1)
- banking system liquidity (1)
- capital (1)
- conditional volatility (1)
- contract econometrics (1)
- contract theory (1)
- coordination risk (1)
- corporate governance (1)
- credit market competition (1)
- default (1)
- distress (1)
- distribution channel (1)
- empirical contract theory (1)
- entrepreneurship (1)
- expectations (1)
- household wealth (1)
- income risk (1)
- insurance (1)
- internal money market (1)
- leverage effect (1)
- manipulation (1)
- market shares (1)
- monetary operations (1)
- moral hazard (1)
- multivariate GARCH (1)
- mutual funds (1)
- owner-manager conflict (1)
- ownership structure (1)
- pension reform (1)
- regime-dependent correlations (1)
- renegotiation (1)
- risk transfer (1)
- second-order dependence (1)
- spot market power (1)
- strategic trading (1)
- systematic risk (1)
- systemic risk (1)
- venture capital (1)
- workout (1)
- Öffentliche Ordnung (1)
- Übernahmeangebot (1)
Institute
2006, 12
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. JEL Classification: G24, G32, G34