{"id":"https://openalex.org/W7172007369","doi":"https://doi.org/10.2139/ssrn.7154806","title":"The Two Frictions of Intermediation: Consolidation and the Banking Wedge in Europe","display_name":"The Two Frictions of Intermediation: Consolidation and the Banking Wedge in Europe","publication_year":2026,"publication_date":"2026-01-01","ids":{"openalex":"https://openalex.org/W7172007369","doi":"https://doi.org/10.2139/ssrn.7154806"},"language":"en","primary_location":{"id":"doi:10.2139/ssrn.7154806","doi":"https://doi.org/10.2139/ssrn.7154806","is_oa":true,"landing_page_url":"https://doi.org/10.2139/ssrn.7154806","pdf_url":null,"source":{"id":"https://openalex.org/S4210172589","display_name":"SSRN Electronic Journal","issn_l":"1556-5068","issn":["1556-5068"],"is_oa":true,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I1318003438","host_organization_name":"RELX Group (Netherlands)","host_organization_lineage":["https://openalex.org/I1318003438"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"posted-content"},"parent_works":[],"lineage":["https://openalex.org/W7172007369"],"child_works_count":0,"type":"preprint","is_traditional":true,"indexed_in":["crossref"],"open_access":{"is_oa":true,"oa_status":"green","oa_url":"https://doi.org/10.2139/ssrn.7154806","any_repository_has_fulltext":true},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5115438255","display_name":"Cadamuro Leonardo","orcid":"https://orcid.org/0000-0002-4216-0382","observed_orcids":["https://orcid.org/0000-0002-4216-0382"]},"institutions":[],"countries":[],"is_corresponding":true,"raw_author_name":"Leonardo Cadamuro","raw_affiliation_strings":[],"raw_orcid":"https://orcid.org/0000-0002-4216-0382","affiliations":[]}],"institutions":[],"countries_distinct_count":0,"institutions_distinct_count":0,"corresponding_author_ids":["https://openalex.org/A5115438255"],"corresponding_institution_ids":[],"apc_list":null,"apc_paid":null,"fwci":null,"has_fulltext":false,"cited_by_count":0,"citation_normalized_percentile":null,"cited_by_percentile_year":null,"biblio":{"volume":null,"issue":null,"first_page":null,"last_page":null},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10127","display_name":"Banking stability, regulation, efficiency","score":0.9692000150680542,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10127","display_name":"Banking stability, regulation, efficiency","score":0.9692000150680542,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T12137","display_name":"Economic theories and models","score":0.0066999997943639755,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T14317","display_name":"Finance, Markets, and Regulation","score":0.0052999998442828655,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/banking-consolidation","display_name":"banking consolidation","score":0.8730000257492065},{"id":"https://openalex.org/keywords/financial-intermediation","display_name":"financial intermediation","score":0.7900000214576721},{"id":"https://openalex.org/keywords/financial-frictions","display_name":"financial frictions","score":0.4699999988079071},{"id":"https://openalex.org/keywords/market-integration","display_name":"market integration","score":0.35100001096725464},{"id":"https://openalex.org/keywords/spatial-modeling","display_name":"spatial modeling","score":0.4399999976158142},{"id":"https://openalex.org/keywords/fixed-costs","display_name":"fixed costs","score":0.4699999988079071},{"id":"https://openalex.org/keywords/free-admission","display_name":"free entry","score":0.5699999928474426},{"id":"https://openalex.org/keywords/allocative-efficiency","display_name":"allocative efficiency","score":0.5789999961853027},{"id":"https://openalex.org/keywords/access-channel","display_name":"access channel","score":0.3659999966621399},{"id":"https://openalex.org/keywords/price-of-risk","display_name":"price of risk","score":0.5740000009536743}],"concepts":[{"id":"https://openalex.org/C2776014549","wikidata":"https://www.wikidata.org/wiki/Q3050847","display_name":"Consolidation (business)","level":2,"score":0.7297000288963318},{"id":"https://openalex.org/C2779143981","wikidata":"https://www.wikidata.org/wiki/Q1445414","display_name":"Intermediation","level":2,"score":0.6820999979972839},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.6158999800682068},{"id":"https://openalex.org/C195487862","wikidata":"https://www.wikidata.org/wiki/Q850210","display_name":"Revenue","level":2,"score":0.5512999892234802},{"id":"https://openalex.org/C196345963","wikidata":"https://www.wikidata.org/wiki/Q4175604","display_name":"Allocative efficiency","level":2,"score":0.526199996471405},{"id":"https://openalex.org/C100243477","wikidata":"https://www.wikidata.org/wiki/Q12002092","display_name":"Welfare","level":2,"score":0.5160999894142151},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.4871000051498413},{"id":"https://openalex.org/C65146658","wikidata":"https://www.wikidata.org/wiki/Q1416431","display_name":"Financial intermediary","level":2,"score":0.4562999904155731},{"id":"https://openalex.org/C181169782","wikidata":"https://www.wikidata.org/wiki/Q1571520","display_name":"Vertical integration","level":2,"score":0.3140000104904175},{"id":"https://openalex.org/C83646750","wikidata":"https://www.wikidata.org/wiki/Q193893","display_name":"Capital (architecture)","level":2,"score":0.29989999532699585},{"id":"https://openalex.org/C42866809","wikidata":"https://www.wikidata.org/wiki/Q466764","display_name":"Fixed cost","level":2,"score":0.296099990606308},{"id":"https://openalex.org/C155739000","wikidata":"https://www.wikidata.org/wiki/Q877707","display_name":"Market structure","level":2,"score":0.2953999936580658},{"id":"https://openalex.org/C175444787","wikidata":"https://www.wikidata.org/wiki/Q39072","display_name":"Microeconomics","level":1,"score":0.2728999853134155},{"id":"https://openalex.org/C127162648","wikidata":"https://www.wikidata.org/wiki/Q16858953","display_name":"Channel (broadcasting)","level":2,"score":0.26589998602867126},{"id":"https://openalex.org/C141121606","wikidata":"https://www.wikidata.org/wiki/Q8142","display_name":"Currency","level":2,"score":0.26499998569488525},{"id":"https://openalex.org/C2776036281","wikidata":"https://www.wikidata.org/wiki/Q48769818","display_name":"Constraint (computer-aided design)","level":2,"score":0.25850000977516174}],"mesh":[],"locations_count":1,"locations":[{"id":"doi:10.2139/ssrn.7154806","doi":"https://doi.org/10.2139/ssrn.7154806","is_oa":true,"landing_page_url":"https://doi.org/10.2139/ssrn.7154806","pdf_url":null,"source":{"id":"https://openalex.org/S4210172589","display_name":"SSRN Electronic Journal","issn_l":"1556-5068","issn":["1556-5068"],"is_oa":true,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I1318003438","host_organization_name":"RELX Group (Netherlands)","host_organization_lineage":["https://openalex.org/I1318003438"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"posted-content"}],"best_oa_location":{"id":"doi:10.2139/ssrn.7154806","doi":"https://doi.org/10.2139/ssrn.7154806","is_oa":true,"landing_page_url":"https://doi.org/10.2139/ssrn.7154806","pdf_url":null,"source":{"id":"https://openalex.org/S4210172589","display_name":"SSRN Electronic Journal","issn_l":"1556-5068","issn":["1556-5068"],"is_oa":true,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I1318003438","host_organization_name":"RELX Group (Netherlands)","host_organization_lineage":["https://openalex.org/I1318003438"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"posted-content"},"sustainable_development_goals":[],"study_designs":[],"awards":[],"funders":[],"has_content":{"pdf":false,"grobid_xml":false},"content_urls":null,"referenced_works_count":0,"referenced_works":[],"related_works":["https://openalex.org/W2020584491","https://openalex.org/W2560360992","https://openalex.org/W2610985223","https://openalex.org/W2158905793","https://openalex.org/W1593822854","https://openalex.org/W2205834038","https://openalex.org/W50099421","https://openalex.org/W3164844830","https://openalex.org/W7098084874","https://openalex.org/W3167689583"],"abstract_inverted_index":null,"counts_by_year":[],"updated_date":"2026-11-14T11:04:58.165337","created_date":"2026-08-01T00:00:00"}