作者：EICHENBAUM, M
作者单位：National Bureau of Economic Research; Federal Reserve System - USA; Federal Reserve Bank - Chicago
作者：YOSHA, O
作者单位：Tel Aviv University
摘要：In October 1983, following a stock market crash, the Israeli government became the owner of most of the banking system in the country. The government is now getting ready to privatise the banks. Using a simple model of imperfect competition between multi-product banks, the paper evaluates two proposals which have been raised in this context: spinning off entire divisions versus splitting the banks into smaller banks. The degree of substitutability between banking products (e.g. short-and long-...
