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Business as Usual : Bank Net Zero Commitments, Lending, and Engagement
Sastry, Parinitha; Verner, Emil; Marqués Ibáñez, David - National Bureau of Economic Research - 2024
We use administrative credit registry data from Europe to study the impact of voluntary lender net zero commitments. We have two sets of findings. First, we find no evidence of lender divestment. Net zero banks neither reduce credit supply to the sectors they target for decarbonization nor do...
Persistent link: https://www.econbiz.de/10014544681
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Monetary Tightening and U.S. Bank Fragility in 2023 : Mark-to-Market Losses and Uninsured Depositor Runs?
Jiang, Erica Xuewei; Matvos, Gregor; Piskorski, Tomasz; … - National Bureau of Economic Research - 2023
accounting for loan portfolios held to maturity. Marked-to-market bank assets have declined by an average of 10% across all the …-- unlike insured depositors, uninsured depositors stand to lose a part of their deposits if the bank fails, potentially giving … them incentives to run. A case study of the recently failed Silicon Valley Bank (SVB) is illustrative. 10 percent of banks …
Persistent link: https://www.econbiz.de/10014247969
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Aggregate Lending and Modern Financial Intermediation : Why Bank Balance Sheet Models are Miscalibrated
Buchak, Greg; Matvos, Gregor; Piskorski, Tomasz; Seru, Amit - National Bureau of Economic Research - 2023
Existing macroeconomic models focused on bank balance sheet lending are deficient because they do not account for the … investigate two increasingly significant margins of adjustment in credit markets: banks' ability to sell loans and shadow bank … following bank capital shock. Recovery is also faster, because profitable loan sales (e.g., securitization) allow banks to build …
Persistent link: https://www.econbiz.de/10014322871
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The Deposit Business at Large vs. Small Banks
Avernas, Adrien d'; Eisfeldt, Andrea L.; Huang, Can; … - National Bureau of Economic Research - 2023
locations of large-bank branches have demographics typically associated with greater financial sophistication, large-bank …
Persistent link: https://www.econbiz.de/10014436996
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Quantities and Covered-Interest Parity
Moskowitz, Tobias J.; Ross, Chase P.; Ross, Sharon Y.; … - National Bureau of Economic Research - 2024
Studies of intermediated arbitrage argue that bank balance sheets are an important consideration, yet little evidence …
Persistent link: https://www.econbiz.de/10014635670
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Screening in Contract Design : Evidence from the ACA Health Insurance Exchanges
Geruso, Michael - 2016
We study insurers' use of prescription drug formularies to screen consumers in the ACA Health Insurance Exchanges. We begin by showing that Exchange risk adjustment and reinsurance succeed in neutralizing selection incentives for most, but not all, consumer types. A minority of consumers,...
Persistent link: https://www.econbiz.de/10012455848
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Digital Hermits
Miklós-Thal, Jeanine; Goldfarb, Avi; Haviv, Avery M.; … - National Bureau of Economic Research - 2023
When a user shares multi-dimensional data about themselves with a firm, the firm learns about the correlations of different dimensions of user data. We incorporate this type of learning into a model of a data market in which a firm acquires data from users with privacy concerns. User data is...
Persistent link: https://www.econbiz.de/10014226117
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Which Firms Gain from Digital Advertising? Evidence from a Field Experiment
Dai, Weijia; Kim, Hyunjin; Luca, Michael - National Bureau of Economic Research - 2023
Measuring the returns of advertising opportunities continues to be a challenge for many businesses. We design and run a field experiment in collaboration with Yelp across 18,294 firms in the restaurant industry to understand which types of businesses gain more from digital advertising. We...
Persistent link: https://www.econbiz.de/10014226122
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Helping Small Businesses become more Data-Driven : A Field Experiment on eBay
Bar-Gill, Sagit; Brynjolfsson, Erik; Hak, Nir - National Bureau of Economic Research - 2023
As more and more activities in the economy become digitized, analytics and data-driven decision-making (DDD) are becoming increasingly important. The adoption of analytics and DDD has been slower in small-to-medium enterprises (SMEs) compared to large firms, and reliable causal estimates of the...
Persistent link: https://www.econbiz.de/10014248007
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Discrete-Choice Models and Representative Consumer Theory
Dubé, Jean-Pierre H.; Joo, Joonhwi; Kim, Kyeongbae - National Bureau of Economic Research - 2022
We establish the Hurwicz-Uzawa integrability of the broad class of discrete-choice additive random-utility models of individual consumer behavior with perfect substitutes preferences and divisible goods. We derive the corresponding indirect uility function and then establish a representative...
Persistent link: https://www.econbiz.de/10013334349