Blar i Norges Banks vitenarkiv på forfatter "Kristiansen, Eirik Gaard"
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Endogenous Product Differentiation in Credit Markets: What Do Borrowers Pay For?
Kim, Moshe; Kristiansen, Eirik Gaard; Vale, Bent (Working Papers;8/2001, Working paper, 2001)This paper studies strategies pursued by banks in order to differentiate their services and soften competition. More specifically we analyse whether bank's ability to avoid losses, its capital ratio, or bank size can be ... -
Life-Cycle Patterns of Interest Rate Markups in Small Firm Finance
Kim, Moshe; Kristiansen, Eirik Gaard; Vale, Bent (Working Papers;4/2007, Working paper, 2007)We derive empirical implications from a stylized theoretical model of bankborrower relationships. Banks’ interest rate markups are predicted to follow a life-cycle pattern over the borrowing firms’ age. Due to endogenous ... -
Risk Taking in Selection Contests
Hvide, Hans K.; Kristiansen, Eirik Gaard (Working Papers;2/1999, Working paper, 1999)We study selection contests in which the strategic variable is degree of risk rather than amount of effort. The selection efficiency of such contests is examined. We show that the selection efficiency of a contest may be ... -
Strategic Bank Monitoring and Firms’ Debt Structure
Kristiansen, Eirik Gaard (Working Papers;10/2005, Working paper, 2005)Firms choose debt structure and competing banks choose monitoring intensity. Monitoring improves credit allocation, but creates informational lock-in effects in bank-borrower relationships. In a competitive credit market, ... -
What Determines Banks’ Market Power? Akerlof versus Herfindahl
Kim, Moshe; Kristiansen, Eirik Gaard; Vale, Bent (Working Papers;8/2005, Working paper, 2005)We introduce a model analyzing how asymmetric information problems in a bank-loan market may evolve over the age of a borrowing firm. The model predicts a life-cycle pattern for banks’ interest rate markup. Young firms pay ...