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BEGIN:VEVENT
UID:4f39aa9120252e074a81987cfc8b30b5
CATEGORIES:Seminars
CREATED:20191028T095051
SUMMARY:Lunch Seminar: Emanuele Tarantino - LUISS & EIEF
DESCRIPTION;ENCODING=QUOTED-PRINTABLE:<p style="text-align: justify;"><strong><span style="font-size: 11pt; font-
 family: Calibri, sans-serif; color: black;">Bank Mergers, Credit Supply and
  Financial Stability: Evidence from the Spanish Banking Sector Restructurin
 g Program</span></strong></p><p style="text-align: justify;"><span style="f
 ont-size: 11pt; font-family: Calibri, sans-serif; color: black;">Abstract: 
         </span></p><p style="text-align: justify;"><span style="font-size: 
 11pt; font-family: Calibri, sans-serif; color: black;">In the wake of the G
 reat Recession, the Spanish government restructured its banking system by f
 ostering the consolidation of savings banks. We exploit the institutional d
 esign of the restructuring program to study the impact of market power on c
 redit supply and financial stability. We find that the market-power effect 
 of mergers produces a reduction in credit supply, a tightening in credit te
 rms and an increase in interest rates, especially to smaller firms. However
 , we also find that the market power of bank mergers yields a reduction in 
 the volume of non-performing loans and loan defaults. </span></p>
DTSTAMP:20260404T124316Z
DTSTART:20191030T130000Z
DTEND:20191030T140000Z
SEQUENCE:0
TRANSP:OPAQUE
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