Measuring welfare loss of market power: an application to European banks

Juan Fernandez De Guevara and Joaquin Maudos ()
Authors registered in the RePEc Author Service: Juan Fernández-de-Guevara ()

Applied Economics Letters, 2004, vol. 11, issue 13, 833-836

Abstract: From a model of imperfect competition among banking firms, this study derives an analytical expression that allows empirical quantification of the welfare loss associated with imperfect competition. Its application to the specific case of the European banking system shows that in spite of the process of deregulation, market power increased during the 1990s in 10 out of the 15 countries of the EU. The welfare loss associated with market power represents close to 2.5% of EU GDP.

Date: 2004
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DOI: 10.1080/1350485042000263908

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