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Although the modern theory of financial intermediation portrays liquidity creation as an essential role of banks, comprehensive measures of bank liquidity creation do not exist. We construct four measures and apply them to data on U.S. banks from 1993-2003. We find that bank liquidity creation increased every year and exceeded $2.8 trillion in 2003. Large(More)
This paper studies the role that market structure plays in affecting the diffusion of electronic banking. Electronic banking (and electronic commerce more generally) reduces the cost of performing many types of transactions for firms. The full benefits for firms from adoption, however, only accrue once consumers begin to perform a significant share of their(More)
If consumers value ‘mix and match’ combinations of network complements, incompatibility between different sellers’ components should affect prices. InATMmarkets, a 1996governance change exogenously generated such incompatibility, by allowing banks to impose surcharges when other banks’ deposit customers use their ATM’s. In our data, incompatibility makes(More)
Market Power in Outputs and Inputs: An Empirical Application to Banking by Robert M. Adams*, Lars-Hendrik Röller, and Robin C. Sickles This paper provides evidence on the empirical separability of input and output market imperfections. We specify a model of banking competition and simultaneously estimate bank conduct in output (loan) and input (deposit)(More)
We model the relationship between market power and both loan interest rates and bank risk without placing strong restrictions on the moral hazard problems between borrowers and banks, and between banks and a government guarantor. Our results suggest that these relationships hinge on intuitive parameterizations of the overlapping moral hazard problems.(More)
Analysis of Candidate Plasticity Genes in Visual Cortex Paul J. Kiser April 22, 2010 The goals of this dissertation is to further the understanding of the roles of two genes identified by differential display polymerase chain reaction (ddPCR) of cat visual cortex as candidate genes to playa role in visual cortical plasticity. Analysis of normal and dark(More)
Although the modern theory of financial intermediation portrays banks as liquidity creators, comprehensive measures of bank liquidity creation do not exist. We construct such measures and apply them to data on U.S. banks from 1993-2003. Based on our preferred measure, the amount of liquidity created by the banking sector has grown by approximately(More)
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