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Informational Rigidities and the Stickiness of Temporary Sales
Nakamura, Emi; Steinsson, Jon; Anderson, Eric; … - National Bureau of Economic Research (NBER) - 2013
Frequent price changes do not imply a rapid response of prices to economic shocks if the price changes are based on old information. We study the extent of such information "stickiness" for temporary sales. Institutionally, we describe how and why temporary sales are "sticky plans" that are...
Persistent link: https://www.econbiz.de/10010969292
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Piracy and Copyright Enforcement Mechanisms
Danaher, Brett; Smith, Michael D.; Telang, Rahul - National Bureau of Economic Research (NBER) - 2013
filesharing displaces sales of media goods and then discuss whether such displacement will lead to reduced incentives to produce …
Persistent link: https://www.econbiz.de/10010969366
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Specialty drug prices and utilization after loss of U.S. patent exclusivity, 2001-2007
Conti, Rena M.; Berndt, Ernst R. - National Bureau of Economic Research (NBER) - 2014
estimated prices of these drug undergoing LOE fall with generic entry. Second, we estimate reduced form random effects models of … utilization subsequent to LOE. We observe substantial price erosion after generic entry; average monthly price declines appear to … entry, but this result appears to be largely driven by oral drugs. We discuss second-best welfare consequences of these …
Persistent link: https://www.econbiz.de/10010950850
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Permission to Exist
Byford, Martin C.; Gans, Joshua S. - National Bureau of Economic Research (NBER) - 2014
that emerges post-entry or reduce the value to the inefficient firm of selling its position to entrants. The paper provides …
Persistent link: https://www.econbiz.de/10010950904
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Labor Market Frictions, Firm Growth, and International Trade
Fajgelbaum, Pablo D. - National Bureau of Economic Research (NBER) - 2013
This paper develops a model to study the aggregate effects of labor market frictions in an open economy through their impact on the growth and investment decisions of firms. The model features interactions between firms' dynamic fixed investments in exporting and search frictions with job-to-job...
Persistent link: https://www.econbiz.de/10010950980
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The Effect of Mergers in Search Market: Evidence from the Canadian Mortgage Industry
Allen, Jason; Clark, Robert; Houde, Jean-François - National Bureau of Economic Research (NBER) - 2013
We examine the relationship between concentration and price dispersion using variation induced by a merger in the Canadian mortgage market. Since interest rates are determined through a search and negotiation process, consolidation eliminates a potential negotiation part- ner, weakening...
Persistent link: https://www.econbiz.de/10010950992
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Multi-Product Firms and Product Quality
Manova, Kalina; Zhang, Zhiwei - National Bureau of Economic Research (NBER) - 2012
This paper proposes that quality differentiation is an important feature of the operations of multi-product firms. We develop a model in which manufacturers vary product quality across their product range by using inputs of different quality levels. Firms' core competency is in varieties of...
Persistent link: https://www.econbiz.de/10010951043
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When Is Prevention More Profitable than Cure? The Impact of Time-Varying Consumer Heterogeneity
Kremer, Michael; Snyder, Christopher M. - National Bureau of Economic Research (NBER) - 2013
We argue that in pharmaceutical markets, variation in the arrival time of consumer heterogeneity creates differences between a producer's ability to extract consumer surplus with preventives and treatments, potentially distorting R&D decisions. If consumers vary only in disease risk, revenue...
Persistent link: https://www.econbiz.de/10010951276
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Do Consumers Respond to Marginal or Average Price? Evidence from Nonlinear Electricity Pricing
Ito, Koichiro - National Bureau of Economic Research (NBER) - 2012
Nonlinear pricing and taxation complicate economic decisions by creating multiple marginal prices for the same good. This paper provides a framework to uncover consumers' perceived price of nonlinear price schedules. I exploit price variation at spatial discontinuities in electricity service...
Persistent link: https://www.econbiz.de/10010951392
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The Rise and Fall of Unions in the U.S.
Greenwood, Jeremy; Dinlersoz, Emin M. - National Bureau of Economic Research (NBER) - 2012
Union membership displayed a ∩-shaped pattern over the 20th century, while the distribution of income sketched a ∪. A model of unions is developed to analyze these phenomena. There is a distribution of firms in the economy. Firms hire capital, plus skilled and unskilled labor. Unionization...
Persistent link: https://www.econbiz.de/10011271477