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- Title
Switching costs in the market for personal current accounts: some evidence for the United Kingdom.
- Authors
Gondat-Larralde, Céline; Nier, Erlend
- Abstract
The paper analyzes the competition in the market for personal current accounts in Great Britain. The Financial Research Survey data collected by National Opinion Poll. The findings are consistent with a moderate degree of imperfect competition in the market for personal current accounts. A positive relationship between levels of market share and price is found. This finding highlights the importance of the cost of changing banks and is consistent with dynamic models of competition with switching costs developed recently.
- Subjects
UNITED Kingdom; BALANCE of payments; ECONOMIC competition; MARKET share; PRICES
- Publication
Bank of England Quarterly Bulletin, 2006, Vol 46, Issue 2, p173
- ISSN
0005-5166
- Publication type
Article