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Competition and bank risk taking in a differentiated oligopoly
(Centro de Investigación y Docencia Económicas, División de Economía, 2014)
We re-examine the relationship between the degree of deposit market competition and bank
risk taking in a model where banks compete in differentiated deposit services. When banks
invest their deposits directly, as has ...
Mass production and competition
(Centro de Investigación y Docencia Económicas, División de Economía, 2014)
I evaluate the optimality properties of a two sector market economy consisting of a mass
production sector with market power and a competitive sector with small scale production.
Adam Smith's results hold: the presence ...