A Structural Empirical Analysis of Retail Banking Competition: the Case of Hungary

摘要：

In this paper we analyze the degree of competition in the Hungarian household credit and deposit markets. We estimate discrete-choice, multinomial logit deposit service and loan demand functions for each bank and calculate the corresponding price elasticities. Two models of the banking industry are considered: a static, differentiated product Nash-Bertrand oligopoly (as non-collusive benchmark) and a cartel. With estimated marginal costs and observed interest rates we calculate the price-cost margins and compare these to the theoretically implied ones. We .nd that in our sample period the competition in the Hungarian banking sector is low, i.e. price-cost margins are high.

关键词： Demand discrete choice product differentiation banking market power

作者: József Molnár Márton Nagy Csilla Horváth

作者单位: Research Department, Bank of Finland, P.O.Box 160, FIN-00101 Helsinki, Finland Magyar Nemzeti Bank, Budapest, 1850, Szabadság tér 8-9, Hungary Radboud University Nijmegen - Nijmegen School of Management, Thomas van Aquinostraat 3, P.O.Box 9108

会议类型: 国际会议

会议名称: 2007年中国金融国际年会

会议地点: 成都

会议语种:英文

页码: 1-46

在线出版日期: 2007-07-09（万方平台首次上网日期，不代表论文的发表时间）