WHO COMPETES WITH WHOM? THE CASE OF DEPOSITORY INSTITUTIONS

WHO COMPETES WITH WHOM? THE CASE OF DEPOSITORY INSTITUTIONS The willingness of consumers to substitute between banks and thrifts and between multimarket and single‐market institutions is of strong interest to policymakers, yet little empirical work exists in this area. We estimate a structural model of consumer choice of depository institutions using a broadly representative panel data set covering the U.S. from 1990–2001. Using a flexible framework, we uncover utility parameters that affect a consumer's institution choice and measure the degree of market segmentation for two institutional subgroups. Our estimated parameters, elasticities and policy experiments suggest limited substitutability between banks and thrifts and between multimarket and single‐market institutions, especially in urban markets. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png The Journal of Industrial Economics Wiley

WHO COMPETES WITH WHOM? THE CASE OF DEPOSITORY INSTITUTIONS

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Publisher
Wiley Subscription Services, Inc., A Wiley Company
Copyright
Copyright © 2007 Wiley Subscription Services, Inc., A Wiley Company
ISSN
0022-1821
eISSN
1467-6451
D.O.I.
10.1111/j.1467-6451.2007.00306.x
Publisher site
See Article on Publisher Site

Abstract

The willingness of consumers to substitute between banks and thrifts and between multimarket and single‐market institutions is of strong interest to policymakers, yet little empirical work exists in this area. We estimate a structural model of consumer choice of depository institutions using a broadly representative panel data set covering the U.S. from 1990–2001. Using a flexible framework, we uncover utility parameters that affect a consumer's institution choice and measure the degree of market segmentation for two institutional subgroups. Our estimated parameters, elasticities and policy experiments suggest limited substitutability between banks and thrifts and between multimarket and single‐market institutions, especially in urban markets.

Journal

The Journal of Industrial EconomicsWiley

Published: Mar 1, 2007

References

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