4 Works

Market Concentration and Uniform Pricing: Evidence from Bank Mergers

João Granja & Nuno Paixao
"In recent years there has been considerable debate about the economic impact of rising levels of market concentration across many industries. In this paper, we focus on the US deposit market. Greater market concentration is usually associated with lower deposit rates. As a result, anti-trust authorities tend to block mergers and acquisitions that could significantly increase concentration in local markets. However, we don’t find that deposit rates necessarily decrease after a merger, even in areas...

Analyzing Default Risk and Liquidity Demand during a Financial Crisis: The Case of Canada

Jason Allen, Ali Hortaçsu & Jakub Kastl
This paper explores the reliability of using prices of credit default swap contracts (CDS) as indicators of default probabilities during the 2007/2008 financial crisis. We use data from the Canadian financial system to show that these publicly available risk measures, while indicative of initial problems of the financial system as a whole, do not seem to correspond to risks implied by the cross-sectional heterogeneity in bank behavior in short-term lending markets. Strategies in, and reliance...

Preface: SCiL 2021 Editors' Note

Allyson Ettinger, Ellie Pavlich & Brandon Prickett

Mamlūk Studies Review Volume 23 (full volume)

Registration Year

  • 2021
    4

Resource Types

  • Text
    4

Affiliations

  • University of Chicago
    4
  • Bank of Canada
    2
  • University of Massachusetts Amherst
    1
  • Stanford University
    1
  • National Bureau of Economic Research
    1
  • Brown University
    1