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Financial services firms play a key role in the European economy. The efficiency and profitability of these firms and the competition among them have an impact

This paper brings to the forefront the assumptions that we make when focussing on a particular type of explanation for bank profitability. We evaluate a broad f

We study versions of a general equilibrium banking model with moral hazard under either constant or increasing returns to scale of the intermediation technology

The complete, up-to-the-minute investment banking briefing for everyone who does business in Europe. European finance after the Euro: What next? Understanding t

We analyze how bank profitability impacts financial stability from both theoretical and empirical perspectives. We first develop a theoretical model of the rela