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Title:Credit Market Competition and Capital Regulation Author(s):ALLEN, Franklin; CARLETTI, Elena
; MARQUEZ, RobertDate:2009Type:Working PaperSeries/Number:EUI ECO; 2009/08Abstract:It is commonly believed that equity finance for banks is more costly than deposits. This suggests that banks should economize on the use of equity and regulatory constraints on capital should be binding. Empirical evidence ...

Title:Interbank Market Liquidity and Central Bank Intervention Author(s):ALLEN, Franklin; CARLETTI, Elena
; GALE, DouglasDate:2009Type:Working PaperSeries/Number:EUI ECO; 2009/09Abstract:We develop a simple model of the interbank market where banks trade a long term, safe asset. We show that when there is a lack of opportunities for banks to hedge aggregate and idiosyncratic liquidity shocks, the interbank ...

Title:Deposits and bank capital structure Author(s):ALLEN, Franklin; CARLETTI, Elena
Date:2013Type:Working PaperSeries/Number:EUI ECO; 2013/03Abstract:In a model with bankruptcy costs and segmented deposit and equity markets, we endogenize the choice of bank and firm capital structure and the cost of equity and deposit finance. Despite risk neutrality, equity capital is ...
