Market Power in Banking
本文通过一个理论框架，分析银行在贷款和存款市场的市场势力如何影响信贷供给和金融稳定，并指出值得进一步研究的渠道，对关注银行竞争与货币政策传导的学者有参考价值。
Bank market power, in both loan and deposit markets, has important implications for credit provision and for financial stability. This article discusses these issues through the lens of a simple theoretical framework. On the asset side, banks choose the quality and quantity of loans. On the liability side, they may be subject to depositor runs whenever they offer demandable contracts. This structure allows us to review the literature on the role of market power for credit provision and stability and also highlight the interactions between the two sides of banks’ balance sheets. Our approach identifies relevant channels that deserve further analysis, especially given the rising importance of bank market power for monetary policy transmission and the rise of the digital economy.