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Fluctuations in Overseas Travel by Americans, 1820 to 2000

Dupont, Brandon - 2009

There were substantial fluctuations in the numbers of American overseas travelers, especially before World War II. These fluctuations in travel around the robust, long term upward trend are the focus of this paper. We first identify those fluctuations in the raw data and then try to explain the...

Persistent link: https://www.econbiz.de/10012463801

The Welfare Effects of Ticket Resale

Leslie, Phillip - 2009

We develop an equilibrium model of ticket resale in which buyers' decisions in the primary market, including costly efforts to "arrive early" to buy underpriced tickets, are based on rational expectations of resale market outcomes. We estimate the parameters of the model using a novel dataset...

Persistent link: https://www.econbiz.de/10012463173

How Do Patent Laws Influence Innovation? Evidence from Nineteenth-Century World Fairs

Moser, Petra - 2003

This paper introduces a new internationally comparable data set that permits an empirical investigation of the effects of patent law on innovation. The data have been constructed from the catalogues of two 19th century world fairs: the Crystal Palace Exhibition in London, 1851, and the...

Persistent link: https://www.econbiz.de/10012468788

Religious Festivals and Economic Development : Evidence from Catholic Saint Day Festivals in Mexico

Montero, Eduardo; Yang, Dean - National Bureau of Economic Research - 2021

Societies worldwide spend substantial resources celebrating religious festivals. How do festivals influence economic … and social outcomes? We study Catholic patron saint day festivals in Mexico, exploiting two features of the setting: (i … "agriculturally-coinciding" festivals (those that coincide with peak planting or harvest months) to other municipalities, examining …

Persistent link: https://www.econbiz.de/10012533370

Violating the Law of One Price : Should We Make a Federal Case Out of It?

Engel, Charles - 1999

We use new disaggregated data on consumer prices to determine why there is variability in prices of similar goods across U.S. cities. We address questions similar to those that have arisen in the international context: is this variability purely a result of market segmentation or do sticky...

Persistent link: https://www.econbiz.de/10012471548

Money and Interest Rates with Endogeneously Segmented Markets

Alvarez, Fernando - 1999

This paper analyses the effects of open market operations on interest rates in a model in which agents must pay a fixed cost to exchange assets and cash. Asset markets are endogenously segmented in that some agents choose to pay the fixed cost and some do not. When the fixed cost is zero, the...

Persistent link: https://www.econbiz.de/10012471741

Strategic Fragmented Markets

Babus, Ana; Parlatore, Cecilia - National Bureau of Economic Research - 2021

We study the determinants of asset market fragmentation in a model with strategic investors that disagree about the value of an asset. Investors' choices determine the market structure. Fragmented markets are supported in equilibrium when disagreement between investors is low. In this case,...

Persistent link: https://www.econbiz.de/10012510608

Market Segmentation and Competition in Health Insurance

Dickstein, Michael J.; Ho, Katherine; Mark, Nathaniel D. - National Bureau of Economic Research - 2021

In the United States, households obtain health insurance through distinct market segments. We explore the economics of this segmentation by comparing coverage provided through small employers versus the individual marketplace. Using data from Oregon, we find households with group coverage spend...

Persistent link: https://www.econbiz.de/10012660084

From Scarcity to Abundance : Government and Private Initiatives to Manage the Allocation of N95 Masks in the U.S. During the COVID-19 Pandemic

Joskow, Paul L. - National Bureau of Economic Research - 2022

This paper examines the structure, behavior and performance of the N95 respirator market in the U.S. before and during the COVID-19 pandemic (2020-early 2022). It focuses on the behavior and performance of government and private sector organizations in the allocation of scarce supplies of N95...

Persistent link: https://www.econbiz.de/10013172175

Market Fragmentation

Chen, Daniel - 2020

We model a simple market setting in which fragmentation of trade of the same asset across multiple exchanges improves allocative efficiency. Fragmentation reduces the inhibiting effect of price-impact avoidance on order submission. Although fragmentation reduces market depth on each exchange, it...

Persistent link: https://www.econbiz.de/10012479351

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